Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Originations

By Elena Loutskina, Philip E. Strahan. 2009

407 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/1bd862dfc846fb44610c12c6ce60fa3444b87761

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Citations in the corpus

What’s in an education? Implications of CEO education for bank performance (2016, background): “…business and in its place growing investments in real estate and mortgages, as a result of the real estate boom and developments in financial innovation that saw banks readily adopt the originate-to-distribute model (Brunnermeier, 2009; Mian and Sufi, 2009; Loutskina and Strahan, 2009).”
The Role of Securitization in Bank Liquidity and Funding Management (2011, background): “…studies tied securitization to excessive credit supply (Mian and Sufi (2008), Demyanyk and Van Hermert (2008), Keys, Mukherjee, Seru and Vig (2008), Loutskina and Strahan (2009), and Rajan, Seru and Vig (2009)); lack of ex-post monitoring incentives (Piskorski, Seru and Vig (2009), Parlour and…”
Shadow Banks and Macroeconomic Instability (2017, neutral): “Similar evidence has been found in bank level data (Altunbas, Gambacorta and MarquezIbanez, 2009; Loutskina and Strahan, 2009).”
Informed and Uninformed Investment in Housing: The Downside of Diversification (2011, background): “Moreover, our earlier research suggests that mortgage supply declines discretely around the jumbo-loan cutoff (e.g. rates rise at the cut-off), and this drop in supply is greatest for banks with low levels of liquid assets and high costs of deposit finance (Loutskina and Strahan, 2009).”
Asset Quality Misrepresentation by Financial Intermediaries: Evidence from the RMBS Market: Asset Quality Misrepresentation by Financial Intermediaries (2015, positive): “…the nature of intermediation has changed dramatically over the past decade, with the introduction of more agents in the supply chain of credit (Loutskina and Strahan (2009), Keys et al. (2013), Nadauld and Sherlund (2013)) potentially weakening the ability of existing market arrangements and…”
Housing Price Booms and Crowding-Out Effects in Bank Lending (2018, result): “Our approach is similar to that taken by Adelino, Schoar, and Severino (2015); Chaney, Sraer, and Thesmar (2012); and Loutskina and Strahan (2015), among others.”