The Probability Of Fixed And Adjustable Rate Mortgage Termination

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The Probability of Fixed and Adjustable Rate Mortgage Termination

Author : Richard Phillips
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Probability of Fixed and Adjustable Rate Mortgage Termination by : Richard Phillips

Download or read book The Probability of Fixed and Adjustable Rate Mortgage Termination written by Richard Phillips and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes mortgage terminations using a national individual loan data set for the 1986 to 1992 period. The standard option choice-theoretic framework is supplemented with variables to proxy for non-option related termination determinants. Separate multinomial logit models are estimated for three mortgage types: 30 year FRMs, 15 year FRMs, and 30 year ARMs. The results indicate substantial differences in the response of the mortgage types to variables included in the model. FRM15 prepayments are the most responsive to prepayment option values; FRM30 prepayments are less responsive to option values and are driven by local area housing market and economic conditions; ARM prepayment rates are higher but default rates are lower relative to the FRMs. A noteworthy finding is that teaser discounts reduce the likelihood of ARM defaults.

The Relative Termination Probabilities of Adjustable-rate Mortgages

Author : Donald F. Cunningham
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (18 download)

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Book Synopsis The Relative Termination Probabilities of Adjustable-rate Mortgages by : Donald F. Cunningham

Download or read book The Relative Termination Probabilities of Adjustable-rate Mortgages written by Donald F. Cunningham and published by . This book was released on 1988 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Adjustable and Fixed Rate Mortgage Termination, Option Values and Local Market Conditions

Author : James Vanderhoff
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Adjustable and Fixed Rate Mortgage Termination, Option Values and Local Market Conditions by : James Vanderhoff

Download or read book Adjustable and Fixed Rate Mortgage Termination, Option Values and Local Market Conditions written by James Vanderhoff and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the probabilities of prepayment or default for Fixed Rate Mortgages (FRMs) and Adjustable Rate Mortgages (ARMs). Using data from the period 1985-1992, the analysis indicates that the likelihood of prepayment of thirty year FRMs was determined primarily by house price appreciation and personal income growth and the likelihood of prepayment of fifteen year FRMs determined primarily by interest rate changes. ARMs were prepaid less frequently than FRMs, were less likely to be prepaid when interest rates declined and defaulted more often than FRMs. The analysis provides evidence that ARM holders are less mobile than FRM holders.

A Dynamic Analysis of Fixed- and Adjustable-Rate Mortgage Terminations

Author : Charles A. Calhoun
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis A Dynamic Analysis of Fixed- and Adjustable-Rate Mortgage Terminations by : Charles A. Calhoun

Download or read book A Dynamic Analysis of Fixed- and Adjustable-Rate Mortgage Terminations written by Charles A. Calhoun and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a side-by-side comparison of loan-level statistical models for fixed- and adjustable-rate mortgages. Multinomial logit models for quarterly conditional probabilities of default and prepayment are estimated. We find that the estimated impacts of embedded option values for prepayment and default are generally quite similar across both FRM and ARM loans, providing additional empirical support for the basic predictions of the options theory. We also find that differences in estimates of conditional probabilities of prepayment and default associated with mortgage age, origination period, original LTV, and relative loan size, indicate the continued significance of these other economic and demographic factors for empirical models of mortgage terminations.

Economics of the Mortgage Market

Author : David Leece
Publisher : John Wiley & Sons
ISBN 13 : 0470693231
Total Pages : 272 pages
Book Rating : 4.4/5 (76 download)

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Book Synopsis Economics of the Mortgage Market by : David Leece

Download or read book Economics of the Mortgage Market written by David Leece and published by John Wiley & Sons. This book was released on 2008-04-15 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The analysis of the mortgage market is a specialised field but examines a financial market with extremely wide-ranging implications; it affects the stability of the whole economy. The key thing about this analysis is the increasing importance of the secondary mortgage market – which in the US is now several times larger than the market for government debt. The UK secondary mortgage market is also growing and the book will provide a timely resource to those active and interested in this important financial market. The 1990s saw an enormous growth of mortgage market analysis as an academic subject and there is a vast literature scattered among the key real estate journals. There is now a great need to not only bring this very complex subject area together, but also to abstract the main issues and to render them intelligible. The book will provide an organised research resource and also inform and motivate further research into the microeconomics of mortgage markets.

Consumer Mortgage Choice Between Fixed-rate Mortgages and Adjustable-rate Mortgages

Author : Hsiu-Wen Wu
Publisher :
ISBN 13 :
Total Pages : 386 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Consumer Mortgage Choice Between Fixed-rate Mortgages and Adjustable-rate Mortgages by : Hsiu-Wen Wu

Download or read book Consumer Mortgage Choice Between Fixed-rate Mortgages and Adjustable-rate Mortgages written by Hsiu-Wen Wu and published by . This book was released on 1992 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:

New Directions in Real Estate Finance and Investment

Author : Piet Eichholtz
Publisher : Springer Science & Business Media
ISBN 13 : 1475759886
Total Pages : 195 pages
Book Rating : 4.4/5 (757 download)

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Book Synopsis New Directions in Real Estate Finance and Investment by : Piet Eichholtz

Download or read book New Directions in Real Estate Finance and Investment written by Piet Eichholtz and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in real estate finance and economics has developed in an exciting way in the past twenty-five years or so. The resulting theoretical and empirical findings are shining a new light on some of the classic mysteries of the real estate markets. It is good to see that a growing proportion of this research output is concerned with contemporary problems and issues regarding the European and Far Eastern property markets. To stimulate a creative exchange of new ideas and a debate of the latest research findings regarding the global property markets, the Maastricht-Cambridge Real Estate Finance and Investment Symposium was established. This initiative aims at bringing together a number of leading researchers in the field for a short, intensive conference. The 2000 Symposium, which was hosted by Maastricht University in the Netherlands in June of that year, is the first in an annual series of such conferences, which will alternate between Maastricht University and Cambridge University. This book is a compilation of the papers originally presented at the first Maastricht-Cambridge Symposium in 2000.

The Future of the Federal Housing Administration's Capital Reserves

Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity
Publisher :
ISBN 13 :
Total Pages : 232 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis The Future of the Federal Housing Administration's Capital Reserves by : United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity

Download or read book The Future of the Federal Housing Administration's Capital Reserves written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2010 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Household Credit Usage

Author : B. W. Ambrose
Publisher : Springer
ISBN 13 : 0230608914
Total Pages : 293 pages
Book Rating : 4.2/5 (36 download)

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Book Synopsis Household Credit Usage by : B. W. Ambrose

Download or read book Household Credit Usage written by B. W. Ambrose and published by Springer. This book was released on 2007-10-29 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to growing interest in household finance, this collection of essays with a foreword by John Y. Campbell, studies household and consumer use of credit instruments. It shows how individual consumers and households utilize various credit alternatives in managing their consumption and savings and suggests areas for future research.

Research Paper

Author :
Publisher :
ISBN 13 :
Total Pages : 570 pages
Book Rating : 4.:/5 (334 download)

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Book Synopsis Research Paper by :

Download or read book Research Paper written by and published by . This book was released on 1988 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Research Working Paper - Federal Home Loan Bank Board

Author : United States. Federal Home Loan Bank Board. Office of Policy and Economic Research
Publisher :
ISBN 13 :
Total Pages : 594 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Research Working Paper - Federal Home Loan Bank Board by : United States. Federal Home Loan Bank Board. Office of Policy and Economic Research

Download or read book Research Working Paper - Federal Home Loan Bank Board written by United States. Federal Home Loan Bank Board. Office of Policy and Economic Research and published by . This book was released on 1980 with total page 594 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Choosing between Fixed and Adjustable-Rate Mortgages

Author : Upinder Dhillon
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Choosing between Fixed and Adjustable-Rate Mortgages by : Upinder Dhillon

Download or read book Choosing between Fixed and Adjustable-Rate Mortgages written by Upinder Dhillon and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reports on the determinants of the ARM choice for commercial real estate projects. The theoretical literature suggests that commercial real estate projects are more likely to be financed with an adjustable-rate mortgage (ARM) if the project's income stream or value is expected to rise with inflation over time. The empirical model estimated is a structural probit probability model of the ARM choice. Our results demonstrate that commercial borrowers typically place great emphasis on relative interest rate differentials when deciding which mortgage is best. We also find that commercial mortgage borrowers will ordinarily be reluctant to issue an ARM when the fixed interest rate is low.

The Influence of Non-option-related Variables Upon Corporate Default and Residential Mortgage Termination

Author : Kyle Gustaf Lundstedt
Publisher :
ISBN 13 :
Total Pages : 170 pages
Book Rating : 4.:/5 (34 download)

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Book Synopsis The Influence of Non-option-related Variables Upon Corporate Default and Residential Mortgage Termination by : Kyle Gustaf Lundstedt

Download or read book The Influence of Non-option-related Variables Upon Corporate Default and Residential Mortgage Termination written by Kyle Gustaf Lundstedt and published by . This book was released on 1999 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Adjustable Rate Mortgage Pricing

Author : David Peter Rubinstein
Publisher :
ISBN 13 :
Total Pages : 730 pages
Book Rating : 4.:/5 (33 download)

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Book Synopsis Adjustable Rate Mortgage Pricing by : David Peter Rubinstein

Download or read book Adjustable Rate Mortgage Pricing written by David Peter Rubinstein and published by . This book was released on 1990 with total page 730 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Factors Affecting Borrower Choice Between the Fixed and Adjustable Rate Mortgages

Author : Mark Christopher Lino
Publisher :
ISBN 13 :
Total Pages : 232 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Factors Affecting Borrower Choice Between the Fixed and Adjustable Rate Mortgages by : Mark Christopher Lino

Download or read book Factors Affecting Borrower Choice Between the Fixed and Adjustable Rate Mortgages written by Mark Christopher Lino and published by . This book was released on 1987 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Non-Prime Mortgages

Author : William B. Shear
Publisher : DIANE Publishing
ISBN 13 : 1437940188
Total Pages : 73 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Non-Prime Mortgages by : William B. Shear

Download or read book Non-Prime Mortgages written by William B. Shear and published by DIANE Publishing. This book was released on 2011 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. The surge in mortgage foreclosures that began in late 2006 and continues today was initially driven by deterioration in the performance of non-prime loans. Non-prime mortgage originations increased dramatically from 2000 through 2006, rising from 12% of all mortgage originations to 34%. The non-prime market contracted sharply in mid-2007, in response to increasing defaults and foreclosures for these loans. This report: (1) provides info. on the performance of non-prime loans through 12/31/09; (2) examines how loan and borrower characteristics and economic conditions influenced the likelihood of default of non-prime loans; and (3) describes the features of data on non-prime loan performance and borrower characteristics. Illus.

International Encyclopedia of Housing and Home

Author :
Publisher : Elsevier
ISBN 13 : 0080471714
Total Pages : 3870 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis International Encyclopedia of Housing and Home by :

Download or read book International Encyclopedia of Housing and Home written by and published by Elsevier. This book was released on 2012-10-09 with total page 3870 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available online via SciVerse ScienceDirect, or in print for a limited time only, The International Encyclopedia of Housing and Home, Seven Volume Set is the first international reference work for housing scholars and professionals, that uses studies in economics and finance, psychology, social policy, sociology, anthropology, geography, architecture, law, and other disciplines to create an international portrait of housing in all its facets: from meanings of home at the microscale, to impacts on macro-economy. This comprehensive work is edited by distinguished housing expert Susan J. Smith, together with Marja Elsinga, Ong Seow Eng, Lorna Fox O'Mahony and Susan Wachter, and a multi-disciplinary editorial team of 20 world-class scholars in all. Working at the cutting edge of their subject, liaising with an expert editorial advisory board, and engaging with policy-makers and professionals, the editors have worked for almost five years to secure the quality, reach, relevance and coherence of this work. A broad and inclusive table of contents signals (or tesitifes to) detailed investigation of historical and theoretical material as well as in-depth analysis of current issues. This seven-volume set contains over 500 entries, listed alphabetically, but grouped into seven thematic sections including methods and approaches; economics and finance; environments; home and homelessness; institutions; policy; and welfare and well-being. Housing professionals, both academics and practitioners, will find The International Encyclopedia of Housing and Home useful for teaching, discovery, and research needs. International in scope, engaging with trends in every world region The editorial board and contributors are drawn from a wide constituency, collating expertise from academics, policy makers, professionals and practitioners, and from every key center for housing research Every entry stands alone on its merits and is accessed alphabetically, yet each is fully cross-referenced, and attached to one of seven thematic categories whose ‘wholes' far exceed the sum of their parts