Mortgage Delinquencies and Defaults - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Mortgage Delinquencies and Defaults write by United States. Congress. House. Committee on Government Operations. Manpower and Housing Subcommittee. This book was released on 1983. Mortgage Delinquencies and Defaults available in PDF, EPUB and Kindle.
Rise in Mortgage Defaults
Rise in Mortgage Defaults - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Rise in Mortgage Defaults write by . This book was released on . Rise in Mortgage Defaults available in PDF, EPUB and Kindle.
Financial Literacy and Subprime Mortgage Delinquency
Financial Literacy and Subprime Mortgage Delinquency - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Literacy and Subprime Mortgage Delinquency write by Kristopher Gerardi. This book was released on 2010-10. Financial Literacy and Subprime Mortgage Delinquency available in PDF, EPUB and Kindle. Investigates whether a particular aspect of borrowers' financial literacy ¿ their numerical ability ¿ may have played a role in the subprime mortgage collapse. The authors measure several aspects of financial literacy and cognitive ability in a survey of subprime mortgage borrowers who took out mortgages in 2006 or 2007 and match these measures to objective data on mortgage characteristics and repayment performance. The result: a large and statistically significant negative correlation between numerical ability and various measures of delinquency and default. Foreclosure starts are approximately 2/3 lower in the group with the highest measured level of numerical ability compared with the group with the lowest measured level. Illus.
Mortgage Default and Mortgage Valuation
Mortgage Default and Mortgage Valuation - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Mortgage Default and Mortgage Valuation write by John Krainer. This book was released on 2010-10. Mortgage Default and Mortgage Valuation available in PDF, EPUB and Kindle. The authors develop an equilibrium valuation model that incorporates optimal default to show how mortgage yields and lender recovery rates on defaulted mortgages depend on initial loan-to-value (LTV) ratios. The analysis treats both the frictionless case and the case in which borrowers and lenders incur deadweight costs upon default. The model is calibrated using data on California mortgages. Given reasonable parameter values, the model does a surprisingly good job fitting the risk premium in the data for high LTV mortgages. Thus, from an ex ante perspective, the authors do not find strong evidence of systematic underpricing of default risk in the run-up to the housing market crisis. Charts and tables.
Financial Literacy and Subprime Mortgage Delinquency
Financial Literacy and Subprime Mortgage Delinquency - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Literacy and Subprime Mortgage Delinquency write by Kristopher Gerardi. This book was released on 2014. Financial Literacy and Subprime Mortgage Delinquency available in PDF, EPUB and Kindle. The exact cause of the massive defaults and foreclosures in the U.S. subprime mortgage market is still unclear. This paper investigates whether a particular aspect of borrowers' financial literacy - their numerical ability - may have played a role. We measure several aspects of financial literacy and cognitive ability in a survey of subprime mortgage borrowers who took out mortgages in 2006 or 2007 and match these measures to objective data on mortgage characteristics and repayment performance. We find a large and statistically significant negative correlation between numerical ability and various measures of delinquency and default. Foreclosure starts are approximately two-thirds lower in the group with the highest measured level of numerical ability compared with the group with the lowest measured level. The result is robust to controlling for a broad set of sociodemographic variables and not driven by other aspects of cognitive ability or the characteristics of the mortgage contracts. Our results raise the possibility that limitations in certain aspects of financial literacy played an important role in the subprime mortgage crisis.
