WP 21-09 – Using a novel database that combines mortgage servicing records, credit-bureau data, and loan application information, we show that lower-income and minority borrowers have significantly higher nonpayment rates during the COVID-19 pandemic, even after controlling for conventional risk factors.
We study credit and payment markets to understand how they affect consumers and the economy.
WP 21-08 - We study how regulatory oversight by the Consumer Financial Protection Bureau (CFPB) affects mortgage credit supply and other aspects of bank behavior.
This report shares results from Wave 7 of a national survey of consumers investigating the effects of COVID-19 on renters and mortgage holders, with updates to previous data on job and income loss and financial security.
WP 21-05 – We show, using a stylized model, how the ﬁnancing choice of landlords can impact eviction decisions in rental markets.
WP 21-04 – We develop empirical tests for discrimination that use high-frequency evaluations to address the problem of unobserved heterogeneity in a conventional benchmarking test.
Get the Philadelphia Fed’s latest information, resources, and research on the coronavirus pandemic's impact on businesses, households, and communities.
We regularly invite outside experts in consumer finance and payments to conduct independent research, collaborate with our staff economists and analysts, and participate in our events.