Utilizing a unique sample of community reinvestment loans, we study the propensity of very low income households to default or prepay on a mortgage and compare it to the outcomes for low income and moderate income households. The results indicate that, even within moderate and low income...

The Great Recession (fourth quarter of 2007 through the second quarter of 2009) has been characterized by high rates of foreclosures and unemployment. Using a sample of community reinvestment loans, we examine the impact of structural or long term unemployment and cyclical or short term...

Utilizing a unique sample of community reinvestment loans, we study the propensity of very low income households to terminate a mortgage and compare it to the outcomes for low income and moderate income households. The results indicate that, even within moderate and low income segments, lower or...

Utilizing a unique sample of community reinvestment loans, we study the propensity of very low income households to terminate a mortgage and compare it to the outcomes for low income and moderate income households. The results indicate that, even within moderate and low income segments, lower or...

There is limited evidence of the role of household-level adverse trigger events in driving mortgage default, and the evidence based on proxies, such as the unemployment rate, is inconsistent. Using a survey of low- and moderate-income homeowners with community reinvestment mortgages, we study...

As part of President Barack Obama's Climate Action Plan, the Obama administration recently proposed that energy efficiency should be factored into mortgage underwriting upon the sale or refinancing of new and existing homes. Little empirical evidence unfortunately exists on the relationship...

There is limited evidence of the role of household-level adverse trigger events in driving mortgage default, and the evidence based on proxies, such as the unemployment rate, is inconsistent. Using a survey of low- and moderate-income homeowners with community reinvestment mortgages, we study...