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 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 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. "

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 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.

Download or read book Subprime Mortgage Lending in New York City written by Ebiere Okah and published by DIANE Publishing. This book was released on 2010-08 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Subprime mortgage lending expanded in New York City between 2004 and mid-2007, and delinquencies on these subprime loans have been rising sharply. The authors describe the main features of this lending and model the performance of these loans. These subprime loans are found to be clustered in neighborhoods where average borrower credit quality is low and, unlike prime mortgage loans, where African-Americans and Hispanics constitute relatively large shares of the population. The authors estimate a model of the likelihood that these loans will become seriously delinquent and find a significant role for credit quality of borrowers, debt-to-income and loan-to-value ratios at the time of loan origination, and estimates of the loss of home equity. Illus.

Download or read book Characteristics and Performance of Nonprime Mortgages written by William B. Shear and published by . This book was released on 2009 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Mortgage Markets and the Role of Nonprime Loans written by Eric J. Carlson and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the first part of this decade, the number of mortgage organisations grew rapidly, particularly in the nonprime segment of the mortgage market. However, these market segments contracted sharply in the summer of 2007, partly in response to a dramatic increase in default and foreclosure rates for these mortgages. The negative repercussions from nonprime lending practices has prompted greater scrutiny of this market segment, a number of government efforts to modify troubled loans and proposals to strengthen federal regulation of the mortgage industry. This new book examines the evolution and condition of the nonprime market segment.

Download or read book Home Mortgages written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-05-15 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Home Mortgages: Recent Performance of Nonprime Loans Highlights the Potential for Additional Foreclosures

Download or read book The Nonprime Mortgage Crisis and Positive Feedback Lending written by Bernard S. Black and published by . This book was released on 2018 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “great recession” of 2007-2009 was sparked by a bubble in U.S. housing prices, driven in turn by a bubble in nonprime mortgage lending. We collect evidence that the risk of a nonprime housing bubble (not the certainty, but a meaningful risk) should have been obvious to the main participants in the markets for nonprime lending and related mortgage-backed securities (nonprime MBS), including originators, securitizers, rating agencies, money managers, and institutional investors. Those who did not see the risk were, in many cases, willfully blind. We also discuss the strong positive feedback nature of typical nonprime mortgages. This positive feedback made it highly likely that, if nonprime housing prices flattened, let alone fell, they would soon crash and take many nonprime MBS with them. We discuss regulatory responses that might limit positive feedback lending, cause the next bubble to be smaller and less likely, and make the post-bubble aftermath less painful.

Download or read book Mortgage Confidential written by David Reed and published by AMACOM/American Management Association. This book was released on 2010-08-18 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ultimate insider's guide to getting the best deal on mortgages... fully updated and revised!

Download or read book Characteristics and Performance of Nonprime Mortgages 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 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Characteristics and performance of nonprime mortgages

Download or read book Alternative Mortgage Instruments written by David L. Smith and published by . This book was released on 1977 with total page 32 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 Protecting homeowners written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit and published by . This book was released on 2003 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Alternative Mortgage Instruments Research Study written by United States. Federal Home Loan Bank Board and published by . This book was released on 1977 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt: