Foreclosure externalities: Some new evidence

Kristopher Gerardi, Eric Rosenblatt, Paul S. Willen, Vincent Yao

NBER Working Paper No. 18353
Issued in September 2012

---- Acknowledgements -----

Thanks to Chris Cunningham, Chris Foote, Scott Frame, Lauren Lambie-Hanson, Steve Ross, Joe Tracy for helpful conversations and to Stefano Giglio, Susan Wachter and John Campbell for excellent discussions at the 2012 Spring HULM, Mid-year AREUEA and NBER Summer Institute conferences respectively. The views expressed in this paper are those of the authors and not the official position of Fannie Mae, nor of any part of the Federal Reserve System, nor of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Eric Rosenblatt -----

For the research that resulted in “Foreclosure Externalities: Some new evidence,” I attest to the following:

1. Financial support for my research came entirely from my employer, Fannie Mae.

2. I have not received any financial or in-kind support for this research from anyone other than Fannie Mae

3. I have no paid or unpaid positions as officer, director, or board member of any relevant non-profit organizations or profit-making entities.

4. I have no close relatives or partners who received financial support from or work in any position at any relevant entity.

5. Maureen Davenport, the Vice President of Communications for Fannie Mae, had the right to review the paper prior to its circulation.

---- Disclosure of Financial Relationships for Vincent Yao -----

For the research that resulted in “Foreclosure Externalities: Some new evidence,” I

attest to the following:

1. Financial support for my research came entirely from my employer, Fannie Mae.

2. I have not received any financial or in-kind support for this research from anyone other than Fannie Mae.

3. I have no paid or unpaid positions as officer, director, or board member of any relevant non-profit organizations or profit-making entities.

4. I have no close relatives or partners who received financial support from or work in any position at any relevant entity.

- Vincent Yao

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