Showing 1 - 9 of 9
This paper examines economic indicators to show how the role of the real estate industry in the economy has evolved over time. This examination spans the early 1980s through 1999. Our key conclusion includes the followings. In terms of economic flows real estate is as important a part of the...
Persistent link: https://www.econbiz.de/10009484517
In the U.S., households participate in two very different types of credit markets. Personal lending is characterized by continuous risk-based pricing in which lenders offer households a continuous distribution of borrowing possibilities based on estimates of their creditworthiness. This...
Persistent link: https://www.econbiz.de/10009484534
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,...
Persistent link: https://www.econbiz.de/10009484535
Local authorities in North Carolina, and subsequently in at least 23 other states, have enacted laws intending to reduce predatory and abusive lending. While there is substantial variation in the laws, they typically extend the coverage of the Federal Home Ownership and Equity Protection Act...
Persistent link: https://www.econbiz.de/10009484537
Subprime mortgage lending has grown rapidly in recent years and with it, so have concerns about predatory lending. In response to evidence of predatory lending, most states have enacted new laws or expanded existing laws to address abuses in the subprime home loan market. The effect of these...
Persistent link: https://www.econbiz.de/10009484540
The subprime mortgage market, which consists of high-cost loans designed for borrowers with weak credit, has grown tremendously over the past ten years. Between 1993 and 2005, the subprime market experienced an average annual growth rate of 26 percent. As this market emerged, so did allegations...
Persistent link: https://www.econbiz.de/10009484541
Weighted repeat sales house price indices have become one of the primary indicators used to identify housing market conditions and to estimate the amount of equity homeowners have gained through house price appreciation. The primary reason for the acceptance of this methodology is that it...
Persistent link: https://www.econbiz.de/10009484542
This paper examines the nature of mortgage credit rationing across geographic markets and time. Particular attention is paid to the response of conventional mortgage supply to higher risk conditions associated with regional recessions. We develop a series of four indirect tests based on the...
Persistent link: https://www.econbiz.de/10009484543
This paper presents a cross-sectional analysis of the spatial distribution of loans in the primary and secondary mortgage markets. Aggregating loan originations to the MSA level, we examine the proportion of the market served by FHA and conventional lenders. We model the geographic differences...
Persistent link: https://www.econbiz.de/10009484554