Article ID Journal Published Year Pages File Type
962059 Journal of Housing Economics 2012 18 Pages PDF
Abstract
► We examine the misstated-income problem during the recent mortgage-market crisis. ► We measure the difference in stated and actual incomes on loan applications. ► Our results suggest a substantial degree of income overstatement in 2005 and 2006. ► Income over-statement was more common in markets with higher house-price growth.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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The prevalence and impact of misstated incomes on mortgage loan applications
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