Souphala Chomsisengphet: Deputy Director of the Credit Risk Analysis Division

Publications

“The Changing Pecking Order of Consumer Defaults” (with Fredrik Andersson, Dennis Glennon and Feng Li), forthcoming in the Journal of Money, Credit and Banking.

“Mortgage Product Substitution and State Anti-Predatory Lending Laws: Better Loans and Better Borrowers” (with Raphael Bostic, Kathleen E. Engel, Patricia A. McCoy, Anthony Pennington-Cross and Susan Wachter), forthcoming in the Atlantic Economic Journal.

“Thy Neighbor's Mortgage: Does Living in a Subprime Neighborhood Affect One's Probability of Default?” (with Sumit Agarwal, Brent Ambrose and Anthony Sanders), Real Estate Economics, 2012, 40(1), p. 1-22.

“The Role of Securitization in Mortgages Renegotiation” (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David and Douglas Evanoff), Journal of Financial Economics, 2011, 102 (201), p. 559-578.

“Consumer Bankruptcy and Default: The Role of Individual Social Capital” (with Sumit Agarwal and Chunlin Liu), Journal of Economic Psychology, 2011, 32, p. 632-650.

“The Role of Soft Information in Dynamic Contract Settings: Evidence from the Home Equity Market” (with Sumit Agarwal, Brent Ambrose and Chunlin Liu) Journal of Money, Credit and Banking, 2011, 43(4), p. 633-655.

"What 'Triggers' Mortgage Default?" (with Ronel Elul, Nicholas Souleles, Dennis Glennon, Robert Hunt), American Economic Review – Papers and Proceeding, 2010, 100(2), p. 490-494.

"Learning to Cope: Voluntary Financial Education Programs and the Housing Crisis" (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David, and Douglas Evanoff), American Economic Review – Papers Proceeding, 2010, 100(2), p. 495-500.

"The Importance of Adverse Selection in the Credit Card Market: Evidence from Randomized Trials of Credit Card Solicitations" (with Sumit Agarwal and Chunlin Liu), Journal of Money, Credit and Banking, 2010, 42(4), p. 743-754.

"Do Forbearance Plans Help Mitigate Credit Card Losses?" (with Sumit Agarwal and Lawrence Mielnicki), Journal of Family and Economic Issues, 2008 29(2), p. 191-209 (Lead article). 

"Subprime Refinancing: Equity Extraction and Mortgage Termination" (with Anthony Pennington-Cross), Real Estate Economics, 2007, 35(2), p. 233-263.

"Credit risk concentrations in wholesale loan portfolios" (with Steven Burton and Erik Heitfield), Journal of Credit Risk, 2006, 2(3), p. 3-31.

"An Empirical Analysis of Home Equity Loans and Lines Performance" (with Sumit Agarwal, Brent Ambrose and Chunlin Liu), Journal of Financial Intermediation, 2006, 15(4), p. 444-469.

"Bankruptcy Exemptions, Credit History, and the Mortgage Market" (with Ronel Elul), Journal of Urban Economics, 2006, 59(1), p. 171-188.

"The Evolution of the Subprime Mortgage Market" (with Anthony Pennington-Cross), St. Louis Fed Review, January/February 2006, 88(1), p. 31-56.

"The Impact of the 2002 Currency Crisis and Subsequent Economic Policies on the Argentine Mortgage Market" (with Sumit Agarwal and Olivier Hassler), Journal of Housing Economic, 2005, 14(3), p. 242-270.

"Exemption Laws and Small Business Bankruptcy Decision" (with Sumit Agarwal and Chunlin Liu), Southern Economic Journal, 2005, 71(3), p. 620-635.

Working Papers

"Policy Intervention in Debt Renegotiation: Evidence from Home Affordability Modification Program" (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David, Tomasz Piskorski and Amit Seru), NBER Working Paper w18311.

“Predatory Lending and the Subprime Crisis” (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David and Douglas Evanoff) Fisher College of Business Working Paper No. 2012-08, Ohio State.

“Market-Based Loss Mitigation Practices of Troubled Mortgages Following the Financial Crisis” (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David and Douglas Evanoff), Fisher College of Business Working Paper No. 2010-019, Ohio State.

"The Benefits of Relationship Lending: Empirical Evidence from Consumer Credit Market" (with Sumit Agarwal, Chunlin Liu and Nicholas Souleles), Federal Reserve Bank of Chicago Working Paper 2010-5.

"Race, Gender and Political Ideology in Personal Bankruptcy Outcomes" (with Sumit Agarwal, Robert McMenamin and Paige M. Skiba), Vanderbilt Law and Economics Research Paper No. 10-08.

“Financial Counseling, Financial Literacy, and Household Decision Making” (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David and Douglas Evanoff), Pension Research Council WP 2010-34.

"Do Financial Counseling Mandates Improve Mortgage Choice and Performance? Evidence from a Legislative Experiment" (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David and Douglas Evanoff), Federal Reserve Bank of Chicago Working Paper 2009-07.

"Do Consumers Choose the Right Credit Contract?" (with Sumit Agarwal, Chunlin Liu and Nicholas Souleles), Federal Reserve Bank of Chicago Working Paper 2006-11.

Other Papers

“Financial Counseling, Financial Literacy, and Household Decision Making” (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David and Douglas Evanoff), in Mitchell, O., and A. Lusardi (eds.), Financial Literacy: Implications for Retirement Security and the Financial Marketplace, Oxford, UK: Oxford University Press, October 2011, p. 181-205. 

“Loan Commitments and Private Firms” (with Sumit Agarwal and John Driscoll), Federal Reserve Bank of Chicago Economic Prospective, 2011:Q2, p. 71-79.

“Determinants of Loan Modifications and Their Success.” (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David and Douglas Evanoff) in the 46^th Proceedings of a Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, May 2010.

“Do Financial Counseling Mandates Improve Mortgage Choice and Performance?” (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David and Douglas Evanoff) in the 45^th Proceedings of a Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, May 2009.

"Role of Personal Bankruptcy Exemption Laws on Mortgage Availability" (with Sumit Agarwal), Cityscape, 2009, 11(1), p. 101-112.

"Determinants of automobile loan default and prepayment" (with Sumit Agarwal and Brent Ambrose), Federal Reserve Bank of Chicago Economic Perspective, 2008:Q3, p. 17-28.

“Interest Rates in the Subprime Mortgage Market” (with Anthony Pennington-Cross), in Household Credit Usage: Personal Debt and Mortgages, Agarwal, Sumit and Brent Ambrose (eds.), Palgrave-Macmillan Publishing, 2007 October, p. 237-352.

“Information Asymmetry and the Automobile Loan Market” (with Sumit Agarwal and Brent Ambrose), in Household Credit Usage: Personal Debt and Mortgages, Agarwal, Sumit and Brent Ambrose (eds.), Palgrave-Macmillan Publishing, 2007 October, p. 92-116.

“Determinants of Small Business Default” (with Sumit Agarwal and Chunlin Liu), in The Analytics of Risk Model Validation, Christodoulakis, George A. and Stephen E. Satchell (eds.), Elsevier, 2007, p. 1-12. “The Evolution of the Subprime Mortgage Market” (with Anthony Pennington-Cross), St. Louis Fed Review, 2006, 88(1), p. 31-56.

“Risk-sensitive regulatory capital rules for hedged credit exposures” (with Steven Burton and Erik Heitfield), in Counterparty Credit Risk Modeling: Pricing, Risk Management and Regulation, Michael Pykhtin, (ed.), London: Risk Waters Group, 2006.

Work-in-Progress

“Second Liens and the Holdup Problem in First Mortgage Renegotiation” (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David and Yan Zhang).

"A Competing Risk Model of Default and Prepayment: A Generalized Maximum Entropy Approach" (with Dennis Glennon, Amos Golan and Hua Kiefer).

“Are Low-to-Medium-Income Borrowers Higher Risk? Evidence from Checking Overdraft Lines” (with Sumit Agarwal and Chau Do).

“Does joint liability lending lead to lower defaults?” (with Sumit Agarwal, Brent Ambrose and Chunlin Liu).