Results 131 to 140 of about 744 (158)
Living on low-incomes with multiple long-term health conditions: A new method to explore the complex interaction between finance and health. [PDF]
PLoS OneBiosca O +8 more
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Understanding the Subprime Mortgage Crisis [PDF]
Review of Financial Studies, 2008 Using loan-level data, we analyze the quality of subprime mortgage loans by adjusting their performance for differences in borrower characteristics, loan characteristics, and macroeconomic conditions. We find that the quality of loans deteriorated for six consecutive years before the crisis and that securitizers were, to some extent, aware of it.
Yuliya Demyanyk, Otto Van Hemert
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Journal of Banking & Finance, 2011
This paper offers evidence on the design of subprime mortgages as bridge-financing products. We show that the viability of subprime mortgages was uniquely predicated on the appreciation of house prices over short-horizons. High rates of early prepayments on subprime mortgages are suggestive of the use of prepayments as an exit option. This paper argues
Geetesh Bhardwaj, Rajdeep Sengupta
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This paper offers evidence on the design of subprime mortgages as bridge-financing products. We show that the viability of subprime mortgages was uniquely predicated on the appreciation of house prices over short-horizons. High rates of early prepayments on subprime mortgages are suggestive of the use of prepayments as an exit option. This paper argues
Geetesh Bhardwaj, Rajdeep Sengupta
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Journal of Urban Economics, 2010
Abstract This paper constructs a reduced-form credit risk model of mortgage default. The data used is of privately-securitized subprime ARMs (adjustable rate mortgages), originated between 1997 and 2008, and observed between 2000 and 2009. The period studied thus encompasses the beginning of the subprime crisis. Given the estimated model, contractual
James B. Kau +3 more
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Abstract This paper constructs a reduced-form credit risk model of mortgage default. The data used is of privately-securitized subprime ARMs (adjustable rate mortgages), originated between 1997 and 2008, and observed between 2000 and 2009. The period studied thus encompasses the beginning of the subprime crisis. Given the estimated model, contractual
James B. Kau +3 more
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2011
A subprime mortgage loan is a residential mortgage loan that is particularly risky for some reason. The elevated risk may stem from the credit history of the borrower, the lack of a large down payment, or a monthly payment that is large relative to the borrower’s income (see Chapter 2 of Muolo and Padilla (2010) for a history of subprime residential ...
Christopher L. Foote, Paul S. Willen
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A subprime mortgage loan is a residential mortgage loan that is particularly risky for some reason. The elevated risk may stem from the credit history of the borrower, the lack of a large down payment, or a monthly payment that is large relative to the borrower’s income (see Chapter 2 of Muolo and Padilla (2010) for a history of subprime residential ...
Christopher L. Foote, Paul S. Willen
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Understanding Subprime Mortgage Default
Journal of Real Estate Literature, 2019Abstract The explosive growth of subprime mortgage originations in the early 2000s coincided with the initial formation, and subsequent collapse, of the residential housing bubble.
Tim Jones, G. Stacy Sirmans
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, 2009 markets, as well as predictions for optimal default by borrowers.
Stephen LeRoy, Munpyung O, John Krainer
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The Journal of Structured Finance, 2007
In recent months, there have been almost daily reports on problems that may result from widespread delinquencies in subprime mortgage loans – loans with higher interest rates and fees that are made to borrowers with impaired or limited credit histories, or to first-time borrowers. After all the sound and fury, two questions remain: “How did this happen?
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In recent months, there have been almost daily reports on problems that may result from widespread delinquencies in subprime mortgage loans – loans with higher interest rates and fees that are made to borrowers with impaired or limited credit histories, or to first-time borrowers. After all the sound and fury, two questions remain: “How did this happen?
openaire +1 more source
CEO Behavior and Subprime Mortgage Crisis [PDF]
SSRN Electronic Journal, 2011 The paper addresses the subprime mortgage crisis from the perspective of the CEO of a financial firm. We integrate agency theory with the asset-pricing model to explore factors affecting CEO risk aversion. Apart from wealth and effort, the two main factors in influencing the agent’s risk preference, we also add a measure of CEO career concern to the ...
Guangdi Chang, Fulwood Chen
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