Is Discretionary Pricing Discretionary?: The Case of Overages in Mortgage Lending

Akerlof George A. 1970. “The market for “lemons”: Quality uncertainty and the market mechanism,” Quarterly Journal of Economics, August.

Altman Daniel , Cutler David M. , and Zeckhauser Richard J. , 1998. “Adverse selection and adverse retention,” American Economic Review, May.

Ausubel Lawrence M. 1999. “Adverse selection in the credit card market,” working paper, University of Maryland.”

Ayres Ian , and Siegelman Peter . “Race and gender discrimination in bargaining for a new car, American Economic Review 85, no. 3, June 1995, pp. 304–321.

Berkovec James A. , Canner Glenn B. , Gabriel Stuart A. , and Hannan Timothy H. , 1996. “Mortgage discrimination and FHA loan performance,” Cityscape, February.

Black Harold A. , Boehm T. P. , and DeGennaro R. P. “Is there discrimination in mortgage pricing? The case of overages”, Journal of Banking and Finance, v. 27, 2003, pp. 1139–1165.

Black Harold A. , Boehm T. P. , and DeGennaro R. P. “Overages, mortgage pricing and race”, International Journal of Finance, Vol. 13, Number 4, 2001, pp. 2057–2073.

Board of Governors of the Federal Reserve System, www.federalreserve.gov/pubs/mortgage.

Calomiris Charles W. , Kahn Charles M. , and Longhofer Stanley D. , 1994. “Housing-finance intervention and private incentives: Helping minorities and the poor”, Journal of Money, Credit and Banking, August.

Calem Paul S. , and Mester Loretta J. , 1995. “Consumer behavior and the stickiness of credit-card interest rates,” American Economic Review, December.

Courchane M. , and Nickerson D. (1997). “Discrimination resulting from overage practices,” Journal of Financial Services Research 11, 133–152.

Edelberg Wendy , 2002. “Testing for adverse selection and moral hazard in consumer loan markets”, working paper, University of Chicago.

Evans Richard D. , Maris Brian A. , and Weinstein Robert I. , 1985. “Expected loss and mortgage default risk,” Quarterly Journal of Business and Economics, Winter.

Freddie Mac National Consumer Credit Survey, 1999.

Jeffrey Green R. , and von Furstenberg George M. , 1975. “The effects of race and age of housing on mortgage delinquency risk,” Urban Studies.

Harding John P. , Rosenthal Stuart S. , and Sirmans C. F. , 2001. “Estimating bargaining power in the market for existing homes”, Review of Economics and Statistics, February.

Heckman James , 1998. “Detecting discrimination”, Journal of Economic Perspectives, Spring.

Longhofer Stanley D. , and Calem Paul S. , 1999. “Mortgage brokers and fair lending,” Economic Commentary, Federal Reserve Bank of Cleveland.

Riach P.A. , and Rich J. , 2002. “Field experiments of discrimination in the market place”, Economic Journal, 112.