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- Faculty Publications (13)
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- All HBS Web (61)
- Faculty Publications (13)
- Web
Behavioral Finance & Financial Stability
Competition: Effects on Risky Mortgage Origination By: Marco Di Maggio, Amir Kermani & Sanket Korgaonkar FEB 2019 How does financial deregulation affect the use of complex loans features? How do regulated intermediaries react to the...
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- 30 Apr 2024
- Book
When Managers Set Unrealistic Expectations, Employees Cut Ethical Corners
Bridgestone/Firestone (2000), related party transactions and accounting fraud at Enron (2001), accounting fraud at WorldCom (2002), corrupt payments at Siemens (2007), mortgage lending abuses at Countrywide...
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by Dina Gerdeman
- Web
Named Fellowship Funds - Alumni
including Alliance Mortgage Company (now Everbank), Enterprise National Bank, and the UK-based self-storage business Space Maker Property Holdings LLC. This fund is to be awarded to deserving MBA students who are entrepreneurial and...
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- Web
Finance - Faculty & Research
Mortgage Convexity By: Samuel G. Hanson Most home mortgages in the United States are fixed-rate loans with an embedded prepayment option. When long-term rates decline, the effective duration of...
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- Web
Research - Behavioral Finance & Financial Stability
Research Research Invisible Primes: Fintech Lending with Alternative Data By: Marco Di Maggio, Dimuthu Ratnadiwakara & Don Carmichael MAR 2022 Will the use of alternative data to assess borrowers’ creditworthiness result in broader credit...
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- 25 Oct 2020
- Research & Ideas
The Dark Side of Fintech Borrowing
requirement introduced by the Dodd-Frank Act for fintech lenders might serve the industry well, Di Maggio suggests. The law “forced the banks to actually make sure that the borrowers will be able to repay their loans.” “In the mortgage...
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- Web
Recommended Reading - Advancing Racial Equity
percent higher for non-Hispanic whites than for blacks or Hispanics. Homeownership is the most common method for wealth accumulation and is viewed as critical for access to the most desirable communities and most comprehensive public services. Homeownership and View Details
- 06 Nov 2008
- Op-Ed
Selling Out The American Dream
leveraging of assets, on irresponsible banks and mortgage brokers who fabricated applications for no downpayment home loans knowing that the risks could be readily laid off on unsuspecting third parties. But underpinning the collapse of...
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by John Quelch
- 24 Sep 2020
- Research & Ideas
Financial Meltdowns Are More Predictable Than We Thought
passed since risky mortgage lending, excessive borrowing, and soaring housing prices collided in 2008 to trigger one of the more severe financial crises in American history. Since then, economists have been studying the factors that led...
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- Web
2018 Financial Risk and Regulation Survey - Behavioral Finance & Financial Stability
2007-2009. When asked about the 19 potential factors that contributed to the crisis (see survey text), respondents identified the following as the top 5: financial engineering, mortgage lenders not paying attention to risk because they...
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- Web
2022 Reunion Presentations - Alumni
market volatility have reached their highest levels since March 2020; mortgage rates in the US have doubled since the start of the year; credit spreads are markedly wider; global equity indices are in bear market territory; and the number...
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- 25 Mar 2013
- Research & Ideas
How Chapter 11 Saved the US Economy
financing, new lenders are given priority in the capital structure. This is a critical incentive because it spurs banks and other creditors to lend to companies in Chapter 11 by giving them senior status, effectively letting them stand in...
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- 12 Sep 2007
- Op-Ed
Building Sandcastles: The Subprime Adventure
negative amortization) turned millions of renters into homeowners. Subprime lending soared from near 0 in the early 1990s to 20.1 percent of all originations in 2006. The subprime lenders hawked their View Details
- 01 Jun 2016
- News
Imagine an Economy Without Wall Street
out on an entrepreneurial path but was thwarted by the country’s lack of a finance and lending infrastructure. A similar shortcoming in the mortgage and lending industry also...
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- 01 Dec 2008
- News
No Easy Fix for the Financial Crisis
subprime crisis. “It’s hard to overstate the dramatic buildup in subprime lending by mid-decade,” he said. “Subprime lending represented a minimal share of home mortgages in...
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- 29 Sep 2008
- Research & Ideas
Financial Crisis Caution Urged by Faculty Panel
much more complicated due in part to the development of mortgage brokers. The new system fueled a bevy of mortgage backed securities and derivatives that were terribly difficult for experts to comprehend, he...
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- 01 Jun 2008
- News
Greed, Gullibility, and Optimism
mortgages are now held by institutions with little connection to local communities? It obscured the risk that is inherent in lending and in owning. We have developed such a sophisticated housing-finance...
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- Web
Real Property - Course Catalog
characteristics, market analyses and metrics used in evaluating and operating each of these asset types, and particular risks or opportunities with respect to these types of projects and buildings. The third module reviews capital markets including private equity...
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- 01 Mar 2009
- News
Buddy, Can You Spare a Trillion
right across the Western financial system. Not many people understood that defaults on subprime mortgages would destroy the value of exotic new asset-backed instruments like collateralized debt obligations. Not many people saw that, as...
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- 30 Nov 2016
- Op-Ed
Where Could More Regulation Help Small Businesses? Online Lending.
services where commonsense regulation is welcome and needed: online lending to businesses. Over the last few years online business lending has exploded. Dozens of “financial technology” (fintech) players...
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