Borrower Misreporting and Loan Performance
研究发现住房抵押贷款借款人虚报资产（略高于整数阈值）与严重违约风险相关，虚报者违约率高出近25个百分点，在金融素养或社会资本低的地区更常见；将此类行为线索纳入风险评估模型可提升违约识别能力。
ABSTRACT Borrower misreporting is associated with seriously adverse loan outcomes. Significantly more residential mortgage borrowers reported personal assets just above round number thresholds than just below. Borrowers who reported above‐threshold assets were almost 25 percentage points more likely to become delinquent (mean delinquency was 20%). For applicants with unverified assets, the increase in delinquency was greater than 40 percentage points. Misreporting was most frequent in areas with low financial literacy or social capital. Incorporating behavioral cues such as threshold effects into a risk assessment model improves its ability to uncover delinquencies, though at a cost of mischaracterizing some safe loans.