This paper uses microeconomic data from India to explore the effects of rapidly changing regulation on mortgage lending and mortgage risk. We find evidence that regulation has important effects on rates and defaults. We also find evidence suggestive of learning by the mortgage provider in a turbulent regulatory environment.
Campbell, J.Y.; Ramadorai, T. How Do Regulators Influence Mortgage Risk? Evidence from an Emerging Market (IGC Working Paper). International Growth Centre (IGC), London, UK (2012) 32 pp.