Lender Screening and the Role of Securitization: Evidence from Prime and Subprime Mortgage Markets

This article examines the link between mortgage securitization and lender screening during the boom and bust of the U.S. housing market. Using comprehensive data on both prime and subprime securitized and bank-held loans, we provide evidence that securitization affected lenders' screening decis...

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Bibliographic Details
Published in:The Review of financial studies 2012-07, Vol.25 (7), p.2071-2108
Main Authors: Keys, Benjamin J., Seru, Amit, Vig, Vikrant
Format: Article
Language:English
Subjects:
2001-2006
Bank loans
Banking
Decision making
Documentation
Financial securities
Financial systems
Housing market
Investment analysis
Investors
Lenders
Liar loans
Loan defaults
Loan rates
Loans
Moral hazard
Mortgage loans
Mortgage markets
Mortgages
Retail banking services
Securitization
Studies
Subprime lending
Subprime loans
Tests
Time series
U.S.A
Underwriting
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