It takes the average reader and 53 minutes to read Do Lenders Make Less-Informed Investments in High-Growth Housing Markets? by Sophia Chen
Assuming a reading speed of 250 words per minute. Learn more
Nonlocal mortgage lenders with greater exposure to high-growth housing markets accept fewer loan applications in these markets and experience greater stock return volatility. When these lenders expand to high-growth markets, they also ration credit to a significantly greater degree than when they ex-pand to other markets. Mean-variance analyses show that nonlocal lenders’ exposure to high-growth markets is associated with more risk, more efficiency, and more return on mortgage portfolios. Overall, these results imply that expansion to high-growth markets leads to a decline in screening and riskier investment by nonlocal lenders, which may reflect a risk–return tradeoff in their portfolio strategy.
Do Lenders Make Less-Informed Investments in High-Growth Housing Markets? by Sophia Chen is 53 pages long, and a total of 13,409 words.
This makes it 18% the length of the average book. It also has 16% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes 1 hour and 13 minutes to read Do Lenders Make Less-Informed Investments in High-Growth Housing Markets? aloud.
Do Lenders Make Less-Informed Investments in High-Growth Housing Markets? is suitable for students ages 8 and up.
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