Photo of Neil Bhutta

Neil Bhutta

Education

  • Ph.D., Economics, Massachusetts Institute of Technology, 2008
  • B.A., Economics and Physics, Emory University, 2000
Current Research Topics
  • Payday lending; mortgage lending; household
  • leverage
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2015 - present
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2014 - 2015
  • Economist

    Board of Governors of the Federal Reserve System

    2008 - 2014
  • Bhutta, Neil, Jane Dokko, and Hui Shan (forthcoming). "The Depth of Negative Equity and Mortgage Default Decisions," The Journal of Finance.
  • Bhutta, Neil, and Benjamin J. Keys (2016). "Interest Rates and Equity Extraction during the Housing Boom," American Economic Review, vol. 106, no. 7, pp. 1742-74.
  • Bhutta, Neil, Jacob Goldin, and Tatiana Homonoff (2016). "Consumer Borrowing after Payday Loan Bans," Journal of Law and Economics, vol. 59, no. 1, pp. 225-259.
  • Bhutta, Neil, and Daniel R. Ringo (2016). "Residential Mortgage Lending from 2004 to 2015: Evidence from the Home Mortgage Disclosure Act Data," Federal Reserve Bulletin, vol. 102, no. 6. Board of Governors of the Federal Reserve System (U.S.).
  • Bhutta, Neil, and Daniel Ringo (2016). "Changing FHA Mortgage Insurance Premiums and the Effects on Lending," FEDS Notes 2016-09-29. Board of Governors of the Federal Reserve System (U.S.).
  • Bhutta, Neil, and Daniel Ringo (2016). "Credit Availability and the Decline in Mortgage Lending to Minorities after the Housing Boom," FEDS Notes 2016-09-29. Board of Governors of the Federal Reserve System (U.S.).
  • Bhutta, Neil, Paige Marta Skiba, and Jeremy Tobacman (2015). "Payday Loan Choices and Consequences," Journal of Money, Credit and Banking, vol. 47, no. 2-3, pp. 223-260.
  • Bhutta, Neil (2015). "The Ins and Outs of Mortgage Debt during the Housing Boom and Bust," Journal of Monetary Economics, vol. 76, pp. 284-298.
  • Bhutta, Neil (2015). "The Ins and Outs of Mortgage Debt: An Update," FEDS Notes 2015-12-07. Board of Governors of the Federal Reserve System (U.S.).
  • Bhutta, Neil, and Daniel R. Ringo (2015). "Effects of the Ability to Repay and Qualified Mortgage Rules on the Mortgage Market," FEDS Notes 2015-12-29. Board of Governors of the Federal Reserve System (U.S.).
  • Bhutta, Neil, Jack Popper, and Daniel R. Ringo (2015). "The 2014 Home Mortgage Disclosure Act Data," Federal Reserve Bulletin, vol. 101, no. 4. Board of Governors of the Federal Reserve System (U.S.)
  • Bhutta, Neil, and Daniel R. Ringo (2015). "Assessing the Community Reinvestment Act's Role in the Financial Crisis," FEDS Notes 2015-05-26. Board of Governors of the Federal Reserve System (U.S.).
  • Bhutta, Neil (2014). "Payday Loans and Consumer Financial Health," Journal of Banking and Finance, vol. 47, pp. 230-242.
  • Bhutta, Neil, and Daniel R. Ringo (2013). "The 2013 Home Mortgage Disclosure Act Data," Federal Reserve Bulletin, vol. 100, no. 6, pp. 1-32.
  • Bhutta, Neil, and Glenn B. Canner (2013). "Mortgage Market Conditions and Borrower Outcomes: Evidence from the 2012 HMDA Data and Matched HMDA--Credit Record Data," Federal Reserve Bulletin, vol. 99, no. 4, pp. 1-58.
  • Bhutta, Neil (2012). "GSE Activity and Mortgage Supply in Lower-Income and Minority Neighborhoods: The Effect of the Affordable Housing Goals," Journal of Real Estate Finance and Economics, vol. 45, no. 1, pp. 238-261.
  • Avery, Robert B., Neil Bhutta, Kenneth P. Brevoort, and Glenn B. Canner (2012). "The Mortgage Market in 2011: Highlights from the Data Reported Under the Home Mortgage Disclosure Act," Federal Reserve Bulletin, vol. 98, no. 6, pp. 1-46.
  • Bhutta, Neil (2011). "The Community Reinvestment Act and Mortgage Lending to Lower Income Borrowers and Neighborhoods," Journal of Law and Economics, vol. 54, no. 4, pp. 953-983.
  • Avery, Robert B., Neil Bhutta, Kenneth P. Brevoort, and Glenn B. Canner (2011). "The Mortgage Market in 2010: Highlights from the Data Reported Under the Home Mortgage Disclosure Act," Federal Reserve Bulletin, vol. 97, pp. 1-82.
  • Avery, Robert B., Neil Bhutta, Kenneth P. Brevoort, and Glenn Canner (2010). "The 2009 HMDA Data: The Mortgage Market in a Time of Low Interest Rates and Economic Distress," Federal Reserve Bulletin, vol. 96, pp. A39-A77.
  • Avery, Robert B., Neil Bhutta, Kenneth P. Brevoort, Glenn Canner, and Christa N. Gibbs (2010). "The 2008 HMDA Data: The Mortgage Market during a Turbulent Year," Federal Reserve Bulletin, vol. 96, pp. A196-A211.
  • Bhutta, Neil, and Glenn B. Canner (2009). "Did the CRA Cause the Mortgage Market Meltdown?" Community Dividend, March.
  • seminar

    November, 2016

    National Association of Realtors

    Costs and Availability of Mortgage Credit

  • seminar

    November, 2016

    Mortgage Bankers Association

    Costs and Availability of Mortgage Credit

  • conference

    September, 2016

    Boston College

    Credit Availability and the Decline in Mortgage Lending to Minorities

  • conference

    October, 2015

    Urban Institute

    The 2014 HMDA Data

  • conference

    October, 2014

    Urban Institute

    Payday Loan Choices and Consequences

  • conference

    July, 2014

    NBER Summer Institutes, Real Estate

    Interest Rates and Equity Extraction During the Housing Boom

  • conference

    May, 2014

    George Mason University

    Payday Loan Choices and Consequences

  • seminar

    February, 2014

    Arizona State University

    Interest Rates and Equity Extraction During the Housing Boom

  • seminar

    October, 2013

    Consumer Financial Protection Bureau

    Causes and Consequences of Using Payday Loans

  • conference

    October, 2013

    Conference on Empirical Legal Studies

    Payday Lending and Consumer Financial Health

  • conference

    October, 2013

    FDIC Consumer Research Symposium

    Interest Rates and Equity Extraction

  • seminar

    May, 2013

    Federal Reserve Bank of Boston

    Household Deleveraging: Evidence from Consumer Credit Records

  • conference

    September 2012

    FDIC Consumer Research Symposium

    Do Payday Loans Affect Creditworthiness

  • conference

    July, 2012

    NBER Summer Institutes, Household Finance

    Do Payday Loans Affect Creditworthiness

  • conference

    May, 2012

    American Law and Economics Association Annual Meeting

    The Effect of Access to Payday Loans on Financial Health

  • seminar

    February, 2012

    NYU Law School

    Consumer Ruthlessness and Mortgage Default

  • seminar

    April, 2011

    West Virginia University

    Consumer Ruthlessness and Mortgage Default

  • conference

    November, 2010

    Conference on Empirical Legal Studies

    Consumer Ruthlessness and Mortgage Default

  • seminar

    June, 2010

    Freddie Mac

    GSE Activity and Mortgage Supply: The Effect of the Affordable Housing Goals

  • seminar

    November, 2008

    University of California, Berkeley

    The Community Reinvestment Act and Mortgage Lending to Lower-Income Borrowers

Awards
  • 2002

    National Science Foundation

    Graduate Research Fellowship

  • 2002

    National Collegiate Athletic Association

    NCAA Post Graduate Research Scholarship

  • 2006

    Massachusetts Institute of Technology Department of Economics

    George and Obie Shultz Award

  • 2015

    Board of Governors of the Federal Reserve System

    Special Achievement Award

Referee
  • Quarterly Journal of Economics
  • Review of Economics and Statistics
  • Journal of Finance
  • Journal of Public Economics
  • Journal of Money, Credit and Banking
  • Journal of Banking and Finance
  • Journal of Urban Economics
  • National Tax Journal
  • Economic Inquiry
  • Journal of Policy Analysis and Management
  • Regional Science and Urban Economics
  • Real Estate Economics
  • Journal of Real Estate Finance and Economics
  • Journal of Financial Stability
  • Journal of Housing Economics
  • Housing Policy Debate
  • Southern Economic Journal
  • Cityscape
  • Journal of Urban Affairs
Last update: March 18, 2017