Credit History And The Performance Of Prime And Nonprime Mortgages

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Credit History and the Performance of Prime and Nonprime Mortgages

Author : Anthony Pennington-Cross
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Credit History and the Performance of Prime and Nonprime Mortgages by : Anthony Pennington-Cross

Download or read book Credit History and the Performance of Prime and Nonprime Mortgages written by Anthony Pennington-Cross and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Although nonprime lending has experienced steady or even explosive growth over the last decade very little is known about the performance characteristics of these mortgages.Using data from national secondary market institutions, this paper estimates a competing risks proportional hazard model, which includes unobserved heterogeneity. The analysis examines the performance of 30 year fixed rate owner occupied home purchase mortgages from February 1995 to the end of 1999 and compares nonprime and prime loan default and prepayment behavior. Nonprime loans are identified by mortgage interest rates that are substantially higher than the prevailing prime rate.Results indicate that nonprime mortgages differ significantly from prime mortgages: they have different risk characteristics at origination; they default at elevated levels; and they respond differently to the incentives to prepay and default. For instance, nonprime mortgages are less responsive to how much the option to call the mortgage or refinance is in the money and this effect is magnified for mortgages with low credit scores. Tests also reveal that default rates are less responsive to homeowner equity when credit scores are included in the specification.

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.

Comparing Patterns of Default Among Prime and Subprime Mortgages

Author : Gene Amromin
Publisher : DIANE Publishing
ISBN 13 : 1437919189
Total Pages : 37 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Comparing Patterns of Default Among Prime and Subprime Mortgages by : Gene Amromin

Download or read book Comparing Patterns of Default Among Prime and Subprime Mortgages written by Gene Amromin and published by DIANE Publishing. This book was released on 2010-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article compares default patterns among prime and subprime mortgages, analyzes the factors correlated with default, and examines how forecasts of defaults are affected by alternative assumptions about trends in home prices. The authors find that extremely pessimistic forecasts of home price appreciation could have generated predictions of subprime defaults that were closer to the actual default experience for loans originated in 2006 and 2007. However, for prime loans one would have also had to anticipate that defaults would become much more sensitive to home prices. Tables and graphs.

Characteristics and Performance of Nonprime Mortgages

Author : William B. Shear
Publisher : DIANE Publishing
ISBN 13 : 143791988X
Total Pages : 57 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Characteristics and Performance of Nonprime Mortgages by : William B. Shear

Download or read book Characteristics and Performance of Nonprime Mortgages written by William B. Shear and published by DIANE Publishing. This book was released on 2010 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: In dollar terms, nonprime loans accounted for an increasing share of the overall mortgage market, rising from 12% in 2000 to 34% in 2006. Over this period, the dollar volume of nonprime mortgages originated annually climbed from $100 billion to $600 billion in the subprime market. However, these market segments contracted sharply in the summer of 2007. This report examines the evolution and condition of the nonprime market segment. It discusses: (1) trends in the loan and borrower characteristics of nonprime mortgages originated from 2000 through 2007; and (2) the performance of these mortgages as of March 31, 2009. It also provides supplemental info., including detailed statistics by annual loan cohort, state, and congressional district. Illustrations.

Report to Congress on the Root Causes of the Foreclosure Crisis

Author : Christopher E. Herbert
Publisher : DIANE Publishing
ISBN 13 : 1437929273
Total Pages : 83 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Report to Congress on the Root Causes of the Foreclosure Crisis by : Christopher E. Herbert

Download or read book Report to Congress on the Root Causes of the Foreclosure Crisis written by Christopher E. Herbert and published by DIANE Publishing. This book was released on 2010-06 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes data and trends in the residential housing market and reviews the academic lit. and industry press on the root causes of the current foreclosure crisis (FC). Provides a review of policy responses and recommended actions to mitigate the FC and help prevent similar crises from occurring in the future. Contents: (1) Trends in Delinquencies and Foreclosures: Regional Trends in Foreclosures; (2) Lit. Review: General Lit. on Causes of Foreclosures and Delinquencies; Lit. Assessing Causes of the Current FC; Factors Enabling Expanded Risky Lending; (3) Policy Responses to the FC: Efforts To Address Rising Foreclosures; Efforts To Reduce the Risk of High Rates of Mortgage Foreclosures in the Future; Mortgage Market Reform. Illus.

Understanding the Securitization of Subprime Mortgage Credit

Author : Adam B. Ashcraft
Publisher : DIANE Publishing
ISBN 13 : 1437925146
Total Pages : 76 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Understanding the Securitization of Subprime Mortgage Credit by : Adam B. Ashcraft

Download or read book Understanding the Securitization of Subprime Mortgage Credit written by Adam B. Ashcraft and published by DIANE Publishing. This book was released on 2010-03 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. Discusses the ways that market participants work to minimize these frictions and speculate on how this process broke down. Continues with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. Presents the key structural features of a typical subprime securitization, documents how rating agencies assign credit ratings to mortgage-backed securities, and outlines how these agencies monitor the performance of mortgage pools over time. The authors draw upon the example of a mortgage pool securitized by New Century Financial during 2006. Illustrations.

Journal of Housing Research

Author :
Publisher :
ISBN 13 :
Total Pages : 1430 pages
Book Rating : 4.:/5 (334 download)

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Book Synopsis Journal of Housing Research by :

Download or read book Journal of Housing Research written by and published by . This book was released on 2006 with total page 1430 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Foreclosure Problems and Solutions

Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity
Publisher :
ISBN 13 :
Total Pages : 544 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Foreclosure Problems and Solutions by : United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity

Download or read book Foreclosure Problems and Solutions written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2008 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Credit Risk and Mortgage Lending

Author : Anthony Pennington-Cross
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis Credit Risk and Mortgage Lending by : Anthony Pennington-Cross

Download or read book Credit Risk and Mortgage Lending written by Anthony Pennington-Cross and published by . This book was released on 2000 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Nonprime Mortgages

Author : U.s. Government Accountability Office
Publisher :
ISBN 13 : 9781974549849
Total Pages : 74 pages
Book Rating : 4.5/5 (498 download)

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Book Synopsis Nonprime Mortgages by : U.s. Government Accountability Office

Download or read book Nonprime Mortgages written by U.s. Government Accountability Office and published by . This book was released on 2017-08-14 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The surge in mortgage foreclosures that began in late 2006 and continues today was initially driven by deterioration in the performance of nonprime (subprime and Alt-A) loans. Nonprime mortgage originations increased dramatically from 2000 through 2006, rising from about 12 percent ($125 billion) of all mortgage originations to about 34 percent ($1 trillion). The nonprime market contracted sharply in mid-2007, partly in response to increasing defaults and foreclosures for these loans.This report (1) provides information on the performance of nonprime loans through December 31, 2009; (2) examines how loan and borrower characteristics and economic conditions influenced the likelihood of default (including foreclosure) of nonprime loans; and (3) describes the features and limitations of primary sources of data on nonprime loan performance and borrower characteristics, and discusses federal government efforts to improve the availability or use of such data. To do this work, GAO analyzed a proprietary database of securitized nonprime loans and Home Mortgage Disclosure Act data, and reviewed information on mortgage data sources maintained by private firms and the federal government. "

Mortgage Valuation Models

Author : Andrew S. Davidson
Publisher : Oxford University Press, USA
ISBN 13 : 0199998167
Total Pages : 465 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis Mortgage Valuation Models by : Andrew S. Davidson

Download or read book Mortgage Valuation Models written by Andrew S. Davidson and published by Oxford University Press, USA. This book was released on 2014 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuation of mortgage-backed securities requires blending empirical analysis of borrower behavior and mathematical modeling of interest rates and home prices, with recognition of various prices of risk and uncertainty. This book offers a detailed description of the sophisticated theories and advanced methods used for the real-world valuation of MBS.

The Global Financial Crisis and Housing

Author : Susan Wachter
Publisher : Edward Elgar Publishing
ISBN 13 : 178347288X
Total Pages : 364 pages
Book Rating : 4.7/5 (834 download)

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Book Synopsis The Global Financial Crisis and Housing by : Susan Wachter

Download or read book The Global Financial Crisis and Housing written by Susan Wachter and published by Edward Elgar Publishing. This book was released on 2014-02-28 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative book analyses the role played by real estate markets in global financial stability and examines the fragile link between the two. Through what transmission channels do housing market cycles influence broader economic systems? How

Democracy and its Elected Enemies

Author : Steven Rosefielde
Publisher : Cambridge University Press
ISBN 13 : 1107012651
Total Pages : 217 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Democracy and its Elected Enemies by : Steven Rosefielde

Download or read book Democracy and its Elected Enemies written by Steven Rosefielde and published by Cambridge University Press. This book was released on 2013-10-07 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an action plan for restoring 'true' democracy in which politicians only provide the services that people have voted for.

International Bibliography Of Economics 2003

Author : Compiled by the British Library of Political and Economic Science
Publisher : Psychology Press
ISBN 13 : 9780415354776
Total Pages : 698 pages
Book Rating : 4.3/5 (547 download)

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Book Synopsis International Bibliography Of Economics 2003 by : Compiled by the British Library of Political and Economic Science

Download or read book International Bibliography Of Economics 2003 written by Compiled by the British Library of Political and Economic Science and published by Psychology Press. This book was released on 2004-12 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1952, the International Bibliography of the Social Sciences (anthropology, economics, political science, and sociology) is well established as a major bibliographic reference for students, researchers and librarians in the social sciences worldwide. Key features * Authority: Rigorous standards are applied to make the IBSS the most authoritative selective bibliography ever produced. Articles and books are selected on merit by some of the world's most expert librarians and academics. * Breadth: today the IBSS covers over 2000 journals - more than any other comparable resource. The latest monograph publications are also included. * International Coverage: the IBSS reviews scholarship published in over 30 languages, including publications from Eastern Europe and the developing world. * User friendly organization: all non-English titles are word sections. Extensive author, subject and place name indexes are provided in both English and French.

Advances in Control and Communication

Author : Dehuai Zeng
Publisher : Springer Science & Business Media
ISBN 13 : 3642260071
Total Pages : 728 pages
Book Rating : 4.6/5 (422 download)

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Book Synopsis Advances in Control and Communication by : Dehuai Zeng

Download or read book Advances in Control and Communication written by Dehuai Zeng and published by Springer Science & Business Media. This book was released on 2012-01-21 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt: With success of ICEEE 2010 in Wuhan, China, and December 4 to 5, 2010, the second International Conference of Electrical and Electronics Engineering (ICEEE 2011) will be held in Macau, China, and December 1 to 2, 2011. ICEEE is an annual conference to call together researchers, engineers, academicians as well as industrial professionals from all over the world to present their research results and development activities in Electrical and Electronics Engineering along with Computer Science and Technology, Communication Technology, Artificial Intelligence, Information Technology, etc. This year ICEEE is sponsored by International Industrial Electronics Center, Hong Kong. And based on the deserved reputation, more than 750 papers have been submitted to ICEEE 2011, from which 92 high quality original papers have been selected for the conference presentation and inclusion in the “Future Information Technology and Computer Engineering” book based on the referees’ comments from peer-refereed. We expect that the Future Information Technology and Computer Engineering book will be a trigger for further related research and technology improvements in the importance subject including Database Management, Information Technology and System, Computing Methodologies, Computer Systems Organization, Computer Application, etc. We expect that the Future Information Technology and Computer Engineering book will be a trigger for further related research and technology improvements in the importance subject including Database Management, Information Technology and System, Computing Methodologies, Computer Systems Organization, Computer Application, etc.

Household Finance

Author : Sumit Agarwal
Publisher : Springer Nature
ISBN 13 : 9811555265
Total Pages : 352 pages
Book Rating : 4.8/5 (115 download)

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Book Synopsis Household Finance by : Sumit Agarwal

Download or read book Household Finance written by Sumit Agarwal and published by Springer Nature. This book was released on 2020-10-07 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Household finance studies is a relatively recent field, exploring a growing understanding of how households make financial decisions relating to the functions of consumption, payment, risk management, borrowing and investing; how institutions provide goods and services to satisfy these financial functions of households; and how interventions by firms, governments and other parties affect the provision of financial services. This timely book analyses existing findings about household behavior as well as findings related to policy interventions. With international case studies, this book reviews a topic of global importance and brings a crucial up-to-date survey of the field for researchers and postgraduate students.

Housing Default

Author : Allen C. Goodman
Publisher : DIANE Publishing
ISBN 13 : 1437935486
Total Pages : 45 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Housing Default by : Allen C. Goodman

Download or read book Housing Default written by Allen C. Goodman and published by DIANE Publishing. This book was released on 2010-10 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a national loan level data set, the authors examine loan default as explained by local demographic characteristics and state level legislation that regulates foreclosure procedures and predatory lending through a hierarchical linear model. They observe significant variation in the default rate across states, with lower default levels in states with higher temporal and financial costs to lenders when controlling for loan and location conditions. The results are notable given that many of the observed loans were sold to investors in national and international markets. State level legislative influences provide a foundation for discussion of national level policy that further regulates predatory lending and financial institution foreclosure activities. Charts and tables.