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  • October 2019
  • Article

Partial Deregulation and Competition: Effects on Risky Mortgage Origination

By: Marco Di Maggio, Amir Kermani and Sanket Korgaonkar
We exploit the OCC's preemption of national banks from state laws against predatory lending as a quasi-experiment to study the effect of deregulation and its interaction with competition on the supply of complex mortgages. Following the preemption ruling, national... View Details
Keywords: Great Recession; Subprime; Complex Mortgages; Credit Supply; Household Debt; Preemption Rule; Competition; Mortgages; Government Legislation; Credit; Financial Crisis
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  • 06 Jun 2011
  • Research & Ideas

Why Leaders Lose Their Way

(R-NV) resigned after covering up an extramarital affair with monetary payoffs. Lee B. Farkas, former chairman of giant mortgage lender Taylor, Bean & Whitaker, in April was found guilty for his role in one of the largest bank fraud... View Details
Keywords: by Bill George
  • 26 Apr 2011
  • First Look

First Look: April 26

be more complex than previously thought. While fervent believers benefit from their involvement, those with weaker beliefs are actually less happy than those who do not ascribe to any religion—atheists and agnostics. These results may... View Details
Keywords: Sean Silverthorne
  • 20 Dec 2011
  • First Look

First Look: December 20

investment-banking revenues. To assess the generality of our findings, we test the same relations using compensation data from a second high-status bank and obtain similar results. The Best of Both Worlds: Integrating Conscious and Unconscious Thought Best Solves View Details
Keywords: Carmen Nobel

    Jerry R. Green

    Jerry R. Green

    David A. Wells Professor of Political Economy

    John Leverett Professor in the University

    Harvard University

     

    Jerry Green is the John Leverett Professor in the University and the David A. Wells... View Details

    Keywords: aerospace; education industry; insurance industry; professional services
    • 21 Jul 2010
    • Research & Ideas

    HBS Faculty Debate Financial Reform Legislation

    Congress tried to turn back the clock by prohibiting banks from engaging in proprietary trading for their own accounts, subject to complex exemptions. Trouble is, proprietary trading was not a cause of the financial crisis and may reduce... View Details
    Keywords: by Staff
    • 06 Oct 2015
    • First Look

    October 6, 2015

    with similar experience, workload, and patient profiles—but varying in their level of task shifting—suggests that shifting of lower complexity tasks by senior surgeons to trained junior colleagues does not negatively impact in-hospital... View Details
    Keywords: Sean Silverthorne
    • 02 Nov 2009
    • Research & Ideas

    Shareholders Need a Say on Pay

    between shareholders and boards." He adds that it forces both entities to grapple with an extremely complex issue. "To have more say on pay, you need to have something to say in the first place." One At A Time The political... View Details
    Keywords: by Julia Hanna; Financial Services
    • Web

    Placement - Doctoral

    experienced coaches. HBS coaches teach students writing, presentation, and slide design skills. Faculty advisors are there every step of the way to help students navigate the complex job market. HBS students can also access resources... View Details
    • 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... View Details
    • 07 Jul 2008
    • Research & Ideas

    Innovation Corrupted: How Managers Can Avoid Another Enron

    interest approved by the board. The idea was to use these mind-numbingly complex entities to manage reported earnings, minimize reported debt, and maintain the company's all-important credit rating and overvalued stock price. Enron also... View Details
    Keywords: by Martha Lagace; Energy; Utilities
    • 09 Aug 2016
    • First Look

    August 9, 2016

    magnitude in subsequent years. Furthermore, we show that the increase in the supply of credit reduced mortgage delinquency rates during the boom years but increased them in bust years. Finally, these effects are stronger for subprime and... View Details
    Keywords: Sean Silverthorne
    • 14 Jan 2019
    • Op-Ed

    These 4 CEOs Created a New Standard of Leadership

    Clinic’s historic mission of putting patients first. He prioritized Mayo’s focus on the most complex diseases patients faced, using its research to develop new treatments for many diseases. He reorganized Mayo into a single system of... View Details
    Keywords: by Bill George; Health; Banking; Food & Beverage; Consumer Products
    • Web

    Bubbles, Panics & Crashes – Historical Collections – Harvard Business School

    the 1920s Research Links Site Credits Introduction Financial crises have happened before, and - if history is any guide - they will happen again. One year after the subprime mortgage crisis, this Baker Library Historical Collections... View Details
    • Web

    Research - Behavioral Finance & Financial Stability

    novel data on 1,240 credit agreements, Victoria and Boris investigate sources of contractual complexity in the leveraged loan market. While negative covenants are widespread, carve-out and deductible clauses that weaken them are as... View Details
    • 07 Sep 2021
    • Research & Ideas

    Who Pays For Wildfire and Hurricane Damage? Everyone.

    New Mexico homeowners might think their inland location buffers them from the financial toll of climate change, but they’re still paying for climate-related property damage occurring in coastal states. New research finds that homeowners in New Mexico and other states... View Details
    Keywords: by Kristen Senz; Insurance
    • Web

    2022 Reunion Presentations - Alumni

    faculty research insights and draw upon the experience of the alumni to address these questions Light Up the World: The New Science (and Serendipity) of Conversation Associate Professor Alison Wood Brooks + More Info – Less Info Why do we talk to people? The reasons... View Details
    • Web

    Harvard Business School

    director of Equity Group Investments. Walter Morris Jr. MBA 1975 A senior managing director at Brock, Walter Morris has broad executive management, lending, and advisory experience spanning more than three decades. Morris's career includes innovative work in capital... View Details
    • 14 Mar 2011
    • Research & Ideas

    Keeping Credit Flowing to Consumers in Need

    The credit crunch and subsequent collapse of the nonprime mortgage market claimed many victims, including hundreds of thousands of low- and moderate-income Americans who lost their homes and savings. Today, regulators and policymakers are... View Details
    Keywords: by Sean Silverthorne; Financial Services; Construction; Real Estate
    • 03 Dec 2008
    • What Do You Think?

    Can Housing and Credit be “Nudged” Back to Health?

    harmed by our own worst instincts." Dan Wallace proposed: "I like 'nudge' solutions, and one approach here might be to provide a 100 percent mortgage interest deduction for people who put 20 percent down on a home, and ratchet... View Details
    Keywords: by Jim Heskett