Homebuilders, Affiliated Financing Arms, and the Mortgage Crisis
14 Pages Posted: 4 Jun 2014
Date Written: June 2, 2014
The authors’ findings indicate that homebuilder financing affiliates do make loans to observably riskier borrowers, but the loans made by homebuilders have lower delinquency rates than those made by unaffiliated lenders, even when loan and borrower characteristics are held constant.
Keywords: Homebuilders, Financial Crisis, Finance Arms of Homebuilders, Household Finance, Portfolio Choice, Investment Decisions, Banks, Depository Institutions, Micro Finance Institutions, Mortgages
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