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.
Download or read book Mortgage Delinquencies and Defaults written by United States. Congress. House. Committee on Government Operations. Manpower and Housing Subcommittee and published by . This book was released on 1983 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Local Housing Market Cycle and Loss Given Default written by Yanan Zhang and published by International Monetary Fund. This book was released on 2010-07-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the impact of housing market cycles on loss given default (LGD). Previous studies have shown that the current loan-to-value ratio (CLTV) is the most important determinant of LGD. This paper establishes another linkage which is between the house price cycles before the time of mortgage origination and LGD. The empirical analysis is based on a large loan-level sub-prime residential mortgage loss dataset from 1998 to 2009. Results show that house price history has a long memory in explaining LGD. Its explanatory power far exceeds the original LTV and other loan characteristics. This paper offers a countercyclical view of LGD risk. The model can be combined with a default probability model to serve as a regulatory prudential tool. Such a tool provides a solution to the inherent procyclical bias in BASEL II capital requirements, and can contribute to the safety and soundness of banking institutions.
Download or read book Evidence and Innovation in Housing Law and Policy written by Lee Anne Fennell and published by Cambridge University Press. This book was released on 2017-08-29 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interdisciplinary volume illuminates housing's impact on both wealth and community, and examines legal and policy responses to current challenges. Also available as Open Access.
Download or read book Mortgage Default and Mortgage Valuation written by John Krainer 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: The authors develop an equilibrium valuation model that incorporates optimal default to show how mortgage yields and lender recovery rates on defaulted mortgages depend on initial loan-to-value (LTV) ratios. The analysis treats both the frictionless case and the case in which borrowers and lenders incur deadweight costs upon default. The model is calibrated using data on California mortgages. Given reasonable parameter values, the model does a surprisingly good job fitting the risk premium in the data for high LTV mortgages. Thus, from an ex ante perspective, the authors do not find strong evidence of systematic underpricing of default risk in the run-up to the housing market crisis. Charts and tables.
Download or read book Housing Management Foreclosures and Abandonments written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1975 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rise in Mortgage Defaults written by and published by DIANE Publishing. This book was released on with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Causes of Multi family Defaults written by United States. Department of Housing and Urban Development. Office of Program Analysis and Evaluation and published by . This book was released on 1975 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mortgage Defaults written by Juan Carlos Hatchondo and published by International Monetary Fund. This book was released on 2012-01-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper incorporates house price risk and mortgages into a standard incomplete market (SIM) model. The model is calibrated to match U.S. data and accounts for non-targeted features of the data such as the distribution of down payments, the life-cycle profile of home ownership, and the mortgage default rate. The average coefficients that measure the agents' ability to self-insure against income shocks are similar to those of a SIM model without housing but housing increases the values of these coefficients for younger agents. The response of consumption to house price shocks is minimal. The introduction of minimum down payments or income garnishment benefits a majority of the population.
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.
Download or read book Mortgage Defaults written by Juan Carlos Hatchondo and published by . This book was released on 2015 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present a model in which households facing income and housing-price shocks use long-term mortgages to purchase houses. Interest rates on mortgages reflect the risk of default. The model accounts for observed patterns of housing consumption, mortgage borrowing, and defaults. We use the model as a laboratory to evaluate default-prevention policies. While recourse mortgages make the penalty for default harsher and thus may lower the default rate, they also lower equity and increase payments and thus may increase the default rate. Introducing loan-to-value (LTV) limits for new mortgages increases equity and thus lowers the default rate, with negligible negative effects on housing demand. The combination of recourse mortgages and LTV limits reduces the default rate while boosting housing demand. Recourse mortgages with LTV limits are also necessary to prevent large increases in the mortgage default rate after large declines in the aggregate price of housing.
Download or read book Housing and Community Development Amendments of 1981 written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Housing and Community Development and published by . This book was released on 1981 with total page 1136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Housing and Urban Development Act of 1965 written by United States. Congress. House. Committee on Banking and Currency. Subcommittee on Housing and published by . This book was released on 1965 with total page 1386 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Role of Non Owner Occupied Homes in the Current Housing and Foreclosure Cycle written by Breck L. Robinson and published by DIANE Publishing. This book was released on 2010-10 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Non-occupant homeowners (NOH) differ from owner occupants in that they tend to have lower-risk credit characteristics, but may also have weaker incentives to maintain mortgage pay. when housing values fall. During the recent housing boom, the share of mortgage borrowing by NOH was relatively high in states where home values rose rapidly. After the housing boom, foreclosures on NOH mortgages in several Midwestern and Northeastern states reflected a high rate of foreclosure per mortgage, not a high vol. of mortgages to NOH. The reverse held true in coastal and mountain states. NV and FL have experienced the greatest impact overall, because they have both a high vol. of mortgages to NOH and a high rate of foreclosure on those mortgages. Illus.
Download or read book Sustainable Housing Finance written by United States. Congress. House. Committee on Financial Services and published by . This book was released on 2013 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Housing in the Economy written by and published by . This book was released on 1956 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: "With a statistical appendix excerpted from the ... annual report" (varies slightly).
Download or read book Housing Finance Review written by and published by . This book was released on 1982 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
