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Religion and Mortgage Misrepresentation
Journal of Business Ethics ( IF 6.331 ) Pub Date : 2021-05-09 , DOI: 10.1007/s10551-021-04831-2
James Conklin , Moussa Diop , Mingming Qiu

We investigate whether religion acts as a deterrent to the types of mortgage misrepresentation that played a significant role in the recent housing boom and bust. Using a large sample of mortgages originated from 2000 to 2007, we provide evidence that local religious adherence (religiosity) is associated with a lower likelihood of home appraisal overstatement and owner occupancy misreporting. The evidence on borrower income misrepresentation is mixed. Religiosity does not appear to reduce the incidence of income misrepresentation; however, it seems to restrain the degree to which income is misrepresented. Our results are generally consistent with the hypothesis that religion, as a set of social norms, fosters ethical behavior, and possibly risk aversion, in the mortgage market.



中文翻译:

宗教和抵押不实陈述

我们调查了宗教是否可以阻止在最近的房地产繁荣和萧条中扮演重要角色的抵押贷款虚假陈述类型。我们使用大量源自2000年至2007年的抵押贷款样本,提供的证据表明,当地的宗教信仰(宗教信仰)与较低的房屋评估夸大陈述和业主错误举报的可能性有关。关于借款人收入虚假陈述的证据参差不齐。宗教似乎并没有减少收入虚假陈述的发生;但是,这似乎限制了收入被错误陈述的程度。我们的结果大体上与以下假设相吻合:宗教作为一套社会规范,在抵押贷款市场中会培养道德行为,并可能规避风险。

更新日期:2021-05-09
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