Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market

By Tomasz Piskorski, Amit Seru, James B. Witkin. 2013

217 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/e51db550d00055987adb553849b59895c3871845

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In Economics and Econometrics

1. Gonzalo Maturana
2. John M. Griffin

In Finance

1. Gonzalo Maturana
2. John M. Griffin
3. Stefan Nagel
4. Natalia Outecheva

Citations in the corpus

• Credit-Induced Boom and Bust (2017, unknown): “the failure of ratings models and the rapid expansion of non-agency securitization markets (Rajan et al. (2010), Purnanandam (2011), Nadauld and Sherlund (2013) and Keys et al.”
• Trust Busting: The Effect of Fraud on Investor Behavior (2018, unknown): “…the causes and consequences of the subprime crisis, including lax screening (Keys, Mukherjee, Seru, and Vig, 2010), misrepresentation of mortgages (Piskorski, Seru, and Witkin, 2015), deceptive advertising (Gurun, Matvos, and Seru, 2015), and the use of TARP funds to purchase assets from those…”
• Mortgage Rates, Household Balance Sheets, and the Real Economy (2014, unknown): “  6 See, among many others, Keys et al. (2010, 2012, 2013), Mian and Sufi (2009), Mian et al. (2011), and Favilukis, Ludvingson, and Van Nieuwerburgh (2013), Piskorski et al (2014).”
• Fraudulent Income Overstatement on Mortgage Applications During the Credit Expansion of 2002 to 2005 (2017, unknown): “1 Adelino et al do not comment on our research showing how home-equity based borrowing contributed to the aggregate rise in the household debt to income ratio (Mian and Sufi (2011), Mian and Sufi (2014a)).”
• Who Facilitated Misreporting in Securitized Loans (2016, background): “Piskorski et al. (2015) use credit data that note where a person is having their bills sent.”
• The Financial Crisis of 2007–2009: Why Did It Happen and What Did We Learn? (2015, unknown): “In Ramakrishnan and Thakor’s (1984) theory of financial intermediation, a raison d’etre for banks is specialization in screening borrowers with a priori unknown default risk (see also Allen 1990; Bhattacharya and Thakor 1993; Coval and Thakor 2005; Millon and Thakor 1985).”
• Fintech, regulatory arbitrage, and the rise of shadow banks (2018, unknown): “(2014), Granja et al. (2014), Piskorski et al (2015), Fligstein and Roehrkasse (2016), we study lawsuits arising out of the financial crisis and capital constraints.”