Journal Article
Mortgage scoring and the myth of overrides
Longhofer, Stanley D. (2002-10)
While many perceive a dark side to the use of overrides in the mortgage underwriting process, Stanley Longhofer of Wichita State University disagrees. This article concludes the five-part series on credit scoring and fair mortgage lending.
Communities and Banking , Issue Fall , Pages 18-21

Journal Article
Discrimination in mortgage lending: what have we learned?
Longhofer, Stanley D. (1996-08)
A retrospective on the debate over the presence of discrimination in the residential mortgage market, examining some of the evidence that's been gathered since the Federal Reserve Bank of Boston published its 1992 study concluding that minority applicants were over 50 percent more likely to be denied a loan than whites.
Economic Commentary , Issue Aug

Journal Article
Measuring pricing bias in mortgages
Longhofer, Stanley D. (1998-08)
Detecting and measuring discrimination in the pricing of mortgage loans present unique challenges for bank regulators. This Commentary outlines how loans are priced in the mortgage market and the difficulties involved in comparing the prices charged to different borrowers.
Economic Commentary , Issue Aug

Journal Article
Mortgage brokers and fair lending
Calem, Paul S.; Longhofer, Stanley D. (1999-05)
Mortgage brokers play an important role in the housing finance market, but they also present unique challenges to regulators attempting to enforce fair lending laws. Should lenders be held responsible for the pricing decisions of brokers from whom they receive loan applications, or should fair lending laws instead be applied directly to the brokers themselves?
Economic Commentary , Issue May

Journal Article
Rooting out discrimination in home mortgage lending
Longhofer, Stanley D. (1995-11)
An argument that racial discrimination in the home mortgage market arises not only from bigotry, but from statistical discrimination (wherein race is correlated with some hard-to-measure determinants of creditworthiness) and from a lack of cultural affinity between lenders and minorities. The author argues that each of these causes may require a different remedy.
Economic Commentary , Issue Nov

Journal Article
PMI reform: good intentions gone awry
Longhofer, Stanley D. (1997-03)
An argument that the legislation aimed at making private mortgage insurance more fair and affordable for homeowners could actually hurt the very borrowers it is intended to help by restricting the availability of mortgage loans and making them more costly.
Economic Commentary , Issue Mar

Journal Article
Absolute priority rule violations in bankruptcy
Longhofer, Stanley D.; Carlstrom, Charles T. (1995-10)
An examination of the impact of APR violations, demonstrating that the efficiency of such violations depends on the specific contracting problem with which a firm and its creditors are faced, and that as a result, an optimal bankruptcy institution should allow contract participants to decide ex ante whether such violations will occur.
Economic Review , Issue Q IV , Pages 21-30

Journal Article
Cultural affinity and mortgage discrimination
Longhofer, Stanley D. (1996-07)
Economic Review , Issue Q III , Pages 12-24

Journal Article
Beneficial "firm runs"
Longhofer, Stanley D. (1998-01)
The author argues that runs, which are generally considered undesirable, also have a beneficial effect--improving lenders' monitoring incentives. Lenders' ability to run on the firm helps control its moral hazard problem, while the first-come, first-served aspect of asset distribution keeps lenders from wanting to free ride on the monitoring efforts of others.
Economic Review , Volume 34 , Issue Q I , Pages 21-29

Journal Article
Beneath the rhetoric: clarifying the debate on mortgage lending discrimination
Longhofer, Stanley D.; Peters, Stephen R. (1998-10)
The authors' simple model of the mortgage underwriting process provides a framework within which to define discrimination and various notions of the default rate. By providing those with differing views a common framework for discussing their positions, the model clarifies and reconciles some of the most controversial issues in the debate over mortgage discrimination. It also shows how this theoretical framework can help in the design of practical policy responses to this vexing social problem.
Economic Review , Volume 34 , Issue Q IV , Pages 2-13