literature recognizes the substantial lag between the time that a borrower stops making payments on a mortgage and the … role in the costs borne by both borrower and lender. Using nested and multinomial logit, we find that delinquency and …

whether delinquency has any predictive power of the future performance of a mortgage. Using a sample of subprime mortgages …

the Federal Home Ownership and Equity Protection Act (HOEPA) by including home purchase and open-end mortgage credit, by …