Predatory Lending Laws and the Cost of Credit
نویسندگان
چکیده
منابع مشابه
The Impact of Anti-Predatory Lending Laws on Mortgage Volume∗
In this paper, I test the hypothesis that anti-predatory lending laws inhibited the volume of mortgage lending during the housing-bubble period. I use cross-state variation in the strictness of these laws and their application only to mortgage refinancing as opposed to home purchases to develop a difference-in-difference estimate of the impact of these laws on mortgage volume. Consistent with m...
متن کاملthe study of practical and theoretical foundation of credit risk and its coverage
پس از بررسی هر کدام از فاکتورهای نوع صنعت, نوع ضمانت نامه, نرخ بهره , نرخ تورم, ریسک اعتباری کشورها, کارمزد, ریکاوری, gdp, پوشش و وثیقه بر ریسک اعتباری صندوق ضمانت صادرات ایران مشخص گردید که همه فاکتورها به استثنای ریسک اعتباری کشورها و کارمزد بقیه فاکتورها رابطه معناداری با ریسک اعتباری دارند در ضمن نرخ بهره , نرخ تورم, ریکاوری, و نوع صنعت و ریسک کشورها اثر عکس روی ریسک اعتباری داردو پوشش, وثی...
15 صفحه اولPredatory Lending
This paper studies the equilibrium predatory practices that may arise when the borrowers have behavioral weaknesses. Rational lenders offer short term contracts that can be renewed at the cost of paying a penalty fee. We show how the optimal contracts depend on the degree of näıveté of the time inconsistent customers. Penalty fees have a dual role : they increase market share by providing a use...
متن کاملDefining and Detecting Predatory Lending
We define predatory lending as a welfare-reducing provision of credit. Using a textbook model, we show that lenders profit if they can tempt households into “debt traps,” that is, overborrowing and delinquency. We then test whether payday lending fits our definition of predatory. We find that in states with higher payday loan limits, less educated households and households with uncertain income...
متن کاملThe Impact of State Anti-predatory Lending Laws on the Foreclosure Crisis
By the end of 2007, thirty states and the District of Columbia had passed some sort of subprime mortgage regulation statute, while the remaining states left the subprime mortgage market unregulated. Were these state mortgage laws effective in restraining risky mortgage lending and mitigating the surge in foreclosures? Our study takes advantage of this natural experiment and compares loan terms,...
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ژورنال
عنوان ژورنال: Real Estate Economics
سال: 2008
ISSN: 1080-8620,1540-6229
DOI: 10.1111/j.1540-6229.2008.00211.x