Investigators at University of Pennsylvania Describe Findings in Finance (Moral Hazard During the Housing Boom: Evidence From Private Mortgage Insurance): Finance

The news reporters obtained a quote from the research from the University of Pennsylvania,“ We document that private mortgage insurance companies expanded insurance issuance on high-risk mortgages purchased by Fannie Mae and Freddie Mac at the tail end of the housing boom, without changing pricing and despite knowledge of heightened housing risk.

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