It has been long recognized that there are a number of barriers that limit access to homeownership for some households, most importantly, downpayment constraints. This paper extends the literature to test for the role of credit quality in limiting access to homeownership. Results show that both...

While there has been considerable research empirically quantifying and simulating the roleof borrowing constraints on homeownership rates, the primary focus of this work has been onmeasuring the relative importance of income and wealth constraints with respect to ownershipoutcomes. An important...

The impact of borrowing constraints on homeownership has been well established in the literature. Wealth is most likely to restrict homeownership followed by credit and income. Using recent movers from the 1979 National Longitudinal Survey of Youth and borrowing constraint definitions commonly...

Subprime lending in the residential mortgage market, characterized by relatively high credit risk and interest rates or fees, has developed over the past decade into a prominent segment of the market (Temkin, 2000). Recent research indicates that there is geographical concentration of subprime...

Subprime lending in the residential mortgage market, characterized by relatively high credit risk and high interest rates or fees, has become a prominent segment of the market in the last ten years. Research indicates there is geographical concentration of subprime mortgages in Census tracts...

This paper examines the performance of home purchase loans originated by a major depository institution in Philadelphia under a flexible lending program between 1988 and 1994. The authors examine long-term delinquency in relation to neighborhood housing market conditions, borrower credit history...

This study examines the performance of home purchase loans originated by a major depository institution in Philadelphia under a flexible lending program between 1988 and 1994. We examine long-term delinquency in relation to neighborhood housing market conditions, borrower credit-history scores...

We revisit the relationship between financing constraints and homeownership rates using the 2004 wave of the 1979 National Longitudinal Survey of Youth. The survey respondents are a nationally representative sample of Americans 39-47 years of age as of this wave. As most of the sample had been...

Using supervisory data for U.S. banks, we evaluate the alignment of Basel II/III AIRB (advanced internal ratings based) risk estimates with portfolio risk. We use loan performance as a direct measure of portfolio risk as well as less direct market-based measures. Our results document that AIRB...