mortgage lending by focusing on a large number of neighborhoods that became eligible and ineligible for CRA credit in the …

This study provides new evidence on the impact of the Community Reinvestment Act (CRA) on mortgage lending by taking …

Home appraisals are produced for millions of residential mortgage transactions each year, but appraised values are … institutional framework that governs mortgage lending lead to information loss in appraisals (that is, appraisals set equal to the … incidence of mortgage default at loan-to-value boundaries (notches) above which mortgage insurance rates increase. Appraisals …

This paper assesses the relative importance of two key drivers of mortgage default: negative equity and illiquidity. To … do so, the authors combine loan-level mortgage data with detailed credit bureau information about the borrower's broader … authors find that both negative equity and illiquidity are significantly associated with mortgage default, with comparably …

Rapid house-price depreciation and rising unemployment were the main drivers of the huge increase in mortgage default … during the downturn years of 2007 to 2010. However, mortgage default was also partly driven by an increased reliance on … alternative mortgage products such as pay-option ARMs and interest-only mortgages, which allow the borrower to defer principal …

huge increase in mortgage default during the downturn years of 2007 to 2010. However, mortgage default was also associated … with an increased reliance on alternative mortgage products such as pay-option and interest-only adjustable rate mortgages … extent of mortgage “backloading,â€? the postponement of loan repayment through various mechanisms that constitutes a main …

We assess the credit market impact of mortgage “strip-down” — reducing the principal of underwater residential … mortgages in bankruptcy was proposed as a means of reducing foreclosures during the recent mortgage crisis but was blocked by … new mortgage applicants. Our identification is provided by a series of U.S. Court of Appeals decisions during the late …

large effect on individual mortgage default rates: The average default rate for the employed is 2.4%; whereas for the … mortgage defaults is rather lower than the effect of state or county unemployment rates. This finding suggests that local …

Mortgage loss-given-default (LGD) increased significantly when house prices plummeted and delinquencies rose during the …