Price Revelation and Efficient Mortgage Markets

7 Pages Posted: 2 Dec 2009

See all articles by Susan M. Wachter

Susan M. Wachter

University of Pennsylvania - Wharton School, Department of Real Estate ; University of Pennsylvania - Finance Department

Date Written: December 1, 2009

Abstract

Over the past decade, the growth of the secondary market has produced an increased differentiation in the pricing of available capital for mortgage lending, as well as in the brokers and lenders involved in the distribution of mortgages. A major outcome of this shift is the emergence of subprime lenders. This paper provides commentary on the views of price revelation and efficient mortgage markets.

Suggested Citation

Wachter, Susan M., Price Revelation and Efficient Mortgage Markets (December 1, 2009). Available at SSRN: https://ssrn.com/abstract=1516717 or http://dx.doi.org/10.2139/ssrn.1516717

Susan M. Wachter (Contact Author)

University of Pennsylvania - Wharton School, Department of Real Estate ( email )

The Wharton School
3620 Locust Walk
Philadelphia, PA 19104-6330
United States
215-898-6355 (Phone)

HOME PAGE: http://real.wharton.upenn.edu/~wachter/index.html

University of Pennsylvania - Finance Department ( email )

The Wharton School
3620 Locust Walk
Philadelphia, PA 19104
United States

HOME PAGE: http://real.wharton.upenn.edu/~wachter/index.html

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