Agenda

Francesco Mazzola (University of Rotterdam) - Electronic Foreclosures

Abstract
This paper investigates how technology affects collateral liquidity in mortgage markets. Exploiting the staggered introduction of electronic bidding across Florida’s counties, I show that foreclosure auction success increases by 28%, and price discounts shrink by 45%. Electronic auction winners are more likely to be local non-professionals, who are found to flip acquired properties less often expost. I also find that credit supply expands and mortgage loan rates decrease, consistent with lenders incorporating lower foreclosure costs into lending decisions. Overall, this evidence suggests that technological modernization can improve allocative efficiency, deepen liquidity, and foster financial inclusion in real estate markets.

Link zoom: unive.zoom.us/j/87186692141

ID riunione: 871 8669 2141