Download or read book Loan Performance and Negative Home Equity in the Non Prime Mortgage Market written by William B. Shear and published by DIANE Publishing. This book was released on 2010-10 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The number of nonprime mortgage originations grew rapidly from 2000 through 2006, a period during which average house prices appreciated dramatically. The nonprime share of mortgage originations rose from 12% in 2000 to 34% in 2006. As house prices subsequently fell, the subprime and Alt-A market segments contracted sharply. Borrowers who had obtained nonprime mortgages earlier in the decade increasingly fell behind on their mortgage payments. This report: (1) provides info. on the performance of these nonprime loans as of 6/30/09, and describes forecasts made by others of future loan performance; and (2) examines the extent of negative home equity among nonprime borrowers in selected metro. areas and nationwide.

Download or read book State Level Information on Negative Home Equity and Loan Performance in the Nonprime Mortgage Market written by William B. Shear and published by DIANE Publishing. This book was released on 2010-10 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The decline of home prices in many parts of the country has left millions of homeowners with negative home equity, meaning that their outstanding mortgage balances exceed the current value of their homes. A substantial proportion of borrowers with active nonprime mortgages had negative equity in their homes as of June 30, 2009. For ex., among the 16 metro areas examined, the percentage of nonprime borrowers with negative equity ranged from about 9% (Denver, CO) to more than 90% (Las Vegas, NV). This report examines, at the state level, the estimated proportion of nonprime borrowers with active loans that were in a negative equity position and the proportion that were seriously delinquent on their loan payments from 2006 through the end of 2009. Illus.

Download or read book Loan Performance and Negative Home Equity in the Nonprime Mortgage Market written by William B. Shear and published by . This book was released on 2009 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Loan Performance and Negative Home Equity in the Nonprime Mortgage Market written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-15 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Loan performance and negative home equity in the nonprime mortgage market

Download or read book State Level Information on Negative Home Equity and Loan Performance in the Nonprime Mortgage Market written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-11 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: State-Level Information on Negative Home Equity and Loan Performance in the Nonprime Mortgage Market

Download or read book State level information on negative home equity and loan performance in the nonprime mortgage market written by William B. Shear and published by . This book was released on 2010 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book State level Information on Negative Home Equity and Loan Performance in the Nonprime Mortgage Marke written by U.s. Government Accountability Office and published by . This book was released on 2017-08-15 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: State-level information on negative home equity and loan performance in the nonprime mortgage market~

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.

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.

Download or read book Foreclosures Continue written by United States. Congress. House. Committee on Oversight and Government Reform. Subcommittee on Domestic Policy and published by . This book was released on 2011 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Foreclosure Prevention written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2010 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Below the Line Estimates of Negative Equity Among Non Prime Mortgage Borrowers written by Andrew F. Haughwout and published by . This book was released on 2010-10 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: The boom in non-prime mortgage lending that occurred in the U.S. between 2004 and 2006 was quickly followed by rapid increases in the rate of delinquencies and foreclosures on these loans. Loans originated in 2004 performed poorly compared with earlier vintages, and the 2005 and 2006 vintages became seriously delinquent within a year of origination at rates that the 2003 vintage took twenty and thirty months to reach, respectively. This report shows that negative equity is closely associated with the time and place of mortgage origination and with the existence of subordinate liens against the property. Further, borrowers in negative equity are twice as likely as those in positive equity to be seriously delinquent, or in default, on their first-lien mortgage.

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.

Download or read book The Subprime Virus written by Kathleen C. Engel and published by Oxford University Press. This book was released on 2016 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this lively new book, Kathleen C. Engel and Patricia A. McCoy tell the full story behind the subprime crisis. The authors, experts in the law and economics of financial regulation and consumer lending, offer a sharply reasoned, but accessible account of the actions that produced the greatest economic collapse since the Great Depression.

Download or read book Curbing Predatory Home Mortgage Lending written by United States. Department of Housing and Urban Development and published by . This book was released on 2000 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Home Equity Lending Industry written by John C. Weicher and published by . This book was released on 1997 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Home Equity Lending Industry is the first public policy analysis of a rapidly growing sector of the housing finance system. It describes the homeowners who - despite impaired credit - have refinanced their mortgages in increasing numbers, outlines the terms on which they have been able to obtain loans, and summarizes the experience of lenders and borrowers after the mortgages have been issued. The study draws on new data sources to illuminate a market that has been ignored or discussed only in anecdotes.

Download or read book Subprime Markets the Role of GSEs and Risk Based Pricing written by Kenneth M. Temkin and published by . This book was released on 2002-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the ideas & opinions of many subprime mortgage market participants observers on subprime borrowers, their default experience, & subprime lenders' underwriting practices. Representatives of lenders, trade associations, Fannie Mae & Freddie Mac, rating agencies & other market experts talked with the authors about the complex issues related to a larger GSE role in the subprime market. Chapters: what is subprime lending & who does it serve?; a brief history of subprime lending; underwriting & pricing practices; the GSEs & subprime lending: current & future roles; automated underwriting & risk-based pricing; automated underwriting systems in today's lending environment; & policy issues & recommendations.