منابع مشابه
House Prices and Subprime Mortgage
The recent sharp increase in subprime mortgage delinquencies has captured the public spotlight and led analysts to search for the factors that are likely to have contributed to the problem.These factors commonly include the lack of income documentation, high loan-to-income ratios, the lowering of credit standards, and the resets on adjustable-rate loans, to name but a few. Although these factor...
متن کاملSubprime Transitions: Lingering or Malingering in Default?
When a mortgage borrower becomes seriously delinquent (i.e., defaults), the lender initiates a time consuming and complex recovery process that may or may not result in foreclosure and eventual disposition of the real estate collateral (REO). This research studies this transition process for a unique sample of subprime mortgages that were seriously delinquent on September 30, 2001. Eight months...
متن کاملOn the Economics of Subprime Lending
U.S. mortgage markets have evolved radically in recent years. An important part of the change has been the rise of the “subprime” market, characterized by loans with high default rates, dominance by specialized subprime lenders rather than full-service lenders, and little coverage by the secondary mortgage market. In this paper we examine these and other “stylized facts” with standard tools use...
متن کاملSubprime Market Growth and Predatory Lending
This article provides an overview of two core issues related to subprime market growth and predatory lending. Two general issues were addressed. First, the rapid growth of subprime lending in minority neighborhoods has raised questions concerning the absence of prime conventional lenders in these neighborhoods. There is evidence that more competition by prime lenders could lower the borrowing c...
متن کاملSubprime Lending and House Price Volatility
This paper establishes a theoretical and empirical link between the use of aggressive mortgage lending instruments, such as interest only, negative amortization or subprime, mortgages and the underlying house price volatility. Such instruments, which come into existence through innovation or financial deregulation, allow more borrowing than otherwise would occur. Within the context of a theoret...
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ژورنال
عنوان ژورنال: International Higher Education
سال: 2013
ISSN: 2372-4501,1084-0613
DOI: 10.6017/ihe.2013.70.8708