Local authorities in North Carolina, and subsequently in at least 23 other states, have enacted laws intending to reduce predatory and abusive lending. While there is substantial variation in the laws, they typically extend the coverage of the Federal Home Ownership and Equity Protection Act...

Recession is one of the challenges to financial institutions. Economic growth is the causality and many firms disappear. Capital is lost and management skills are questioned. Efforts are always visible to the wisdom of management but how these efforts turn to be futile it is mystery. Man is...

Este trabajo muestra la fuerte incidencia económica, así como los importantes efectos distorsionadores, de cambiar solo el sujeto pasivo de un impuesto (también conocido como «cambiar la incidencia estatutaria o legal del impuesto», es decir, un cambio en el agente sobre el cual se grava el...

In this paper we develop a probability of default (PD) model for mortgage loans, taking advantage of the Spanish Credit Register, a comprehensive database on loan characteristics and credit quality. From that model, we calculate different types of PDs: point in time, PIT, through the cycle, TTC,...

La teoría de la renta permanente predice que en ausencia de restricciones al crédito las decisiones de gasto de los propietarios de vivienda dependen principalmente del tipo de interés de su hipoteca. Por el contrario, el consumo de hogares con acceso limitado al crédito depende de otras...

Artículo de revista ; The ratio between the amount of mortgage loans and the value of housing (the loan to value ratio) is a useful indicator for studying the financial situation of households. Two main price indicators are used to measure loan to value ratios for housing in Spain at the time...

A standard, no-recourse mortgage contract does not adjust when the value of the underlying collateral falls. Consequently, shocks that lower house prices may trigger one of the necessary conditions for default: negative equity. A common alternative contract attempts to prevent default by...