Since February 2010, detailed information on every home mortgage default and foreclosure in New York State must be … Mortgage Disclosure Act (HMDA) enables us to identify the race and ethnicity of borrowers who defaulted on their home mortgages … default. After controlling for other factors, we find that the interest rates charged to black and Latino borrowers tended to …

Since February 2010, detailed information on every home mortgage default and foreclosure in New York State must be … that borrowers in default who took larger loans are more likely to progress to foreclosure. It also suggests that reducing … principal balances may reduce the foreclosure rate, but might have an adverse effect on the mortgage industry. Given the …

This paper combines data on the performance of mortgage loans with detailed borrower, neighborhood, and property … auction sale or REO); or (4) the loan remains delinquent. In particular, we focus on mortgage modification. We find that the …

. This explains the phenomenon of irregularly high early-stage default and prepayment rates observed in residential mortgage … mortgage sales and mortgage-backed security trading. Copyright Springer Science+Business Media, LLC 2009 … lending in China, where there are few, if any, financial incentives for mortgage borrowers to exercise either put or call …

(including unsecured debt, liquid assets, and illiquid assets) play in default decisions. In sharp contrast to prior studies that … strongest predictor of default. We find that individual unemployment increases the probability of default by 5–13 percentage … points, ceteris paribus, compared with the sample average default rate of 3.9 percent. We also find that only 13.9 percent of …

A mortgage is an exchange of a collection of rights between a borrower and a lender. In this article, we describe those … medieval origins of the American mortgage contract and its evolution into its present form. We then turn to topics relevant for …-of-sale foreclosure; deficiency judgments and recourse; assignments; the Mortgage Electronic Registration System; and methods for avoiding …

Using several large data sets of mortgage loans originated between 2004 and 2007, we find that in the prime mortgage … market, banks generally sold low-default-risk loans into the secondary market while retaining higher-default-risk loans in …. Securitization strategy of lenders changed dramatically in 2007 as the crisis set in with most unwilling to retain higher-default …

This paper explores the link between the house-price expectations of mortgage lenders and the extent of subprime … expectations easing the default concerns of lenders and thus increasing their willingness to extend loans to risky borrowers. Since …

Much of the literature on the economics of mortgage markets has studied the FRM-ARM choice made by individual borrowers … of optimal risk-sharing in mortgage contracts. But since only a small literature has studied this question, more research …’s (1986a) model, using it to characterize optimal contracts in the absence of mortgage termination, and then exploring how …