Who Facilitated Misreporting in Securitized Loans?
نویسندگان
چکیده
منابع مشابه
Who Facilitated Misreporting in Securitized Loans?∗
This paper examines apparent misrepresentation among securitized non-agency loans using three indicators: unreported second liens, owner occupancy misreporting, and appraisal overstatements. We find that approximately 30% of loans exhibited some indication of potential misrepresentation. Misreporting is similar in both low and fulldocumentation loans and is associated with a 51% higher likeliho...
متن کاملComparing Securitized and Balance Sheet Loans: Size Matters
Do securitized loans differ from loans held on lenders’ balance sheets? If so, why? We assemble a unique dataset of commercial mortgages with information on loan characteristics at origination and subsequent performance. The most significant difference between securitized (CMBS) and balance sheet loans is the loan size. The largest loans are 42 percentage points more likely to be securitized th...
متن کاملMisreporting of Natural Resource
A number of oil market experts argue that OPEC members substantially overreport their reserves. The potential damage for the world economy calls for an analysis of the motives and the preconditions for successful misreporting of natural resource reserves. Based on a signalling game within an international trade model, this article develops a framework for such an analysis. Exporting countries w...
متن کاملMisreporting of dietary energy intake in adolescents.
OBJECTIVES To examine the prevalence of under and overreporting of energy intake in adolescents and their associated factors. METHODS Cross-sectional study with 96 postpubertal adolescents (47 normal-weight and 49 obese), mean age of 16.6±1.3 years. Weight and height were measured, and body mass index was calculated. Body composition was assessed by dual energy X-ray absorptiometry. Dietary i...
متن کاملCollateral Misreporting in the RMBS Market ∗
Based on differences between residential mortgage appraisals and automated valuation model (AVM) valuations from a leading valuation firm, at least 15% of non-agency securitized loans originated between 2001 and 2007 have upwardly biased appraisals, which cause average collateral value to be overstated by almost 5%. Simulations and internal data from a large lender that include funded loans and...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Review of Financial Studies
سال: 2016
ISSN: 0893-9454,1465-7368
DOI: 10.1093/rfs/hhv130