Appraisal Quality And Residential Mortgage Default PDF Download
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Author | : Michael LaCour-Little |
Publisher | : |
Total Pages | : |
Release | : 2003 |
Genre | : |
ISBN | : |
Download Appraisal Quality and Residential Mortgage Default Book in PDF, ePub and Kindle
We empirically examine the effect of appraisal quality on subsequent mortgage loan performance using data from the high volatility housing market of Alaska in the 1980s. We develop measures of appraisal quality by computing the residual between a hedonic estimate of house value using available information from other appraisals compared to actual ex ante appraised value. We then estimate proportional hazard models of mortgage default and find that several measures of appraisal quality, particularly appraised value in excess of hedonic estimates, are significantly related to default risk. Using valuations subsequent to loan default, we are also able to evaluate how well house price indices perform in terms of estimating current loan-to-value and offer some additional evidence on the controversy over the role of net equity versus trigger events as determinants of mortgage default. We also show that defaults are related to ex ante measures of housing market conditions, with additional implications for underwriting policies and the current industry trend away from traditional appraisal and toward automated valuation.
Author | : Stephen Malpezzi |
Publisher | : |
Total Pages | : 26 |
Release | : 1995 |
Genre | : Default (Finance) |
ISBN | : |
Download Appraisal Quality and Residential Mortgage Default Book in PDF, ePub and Kindle
Author | : William B. Shear |
Publisher | : DIANE Publishing |
Total Pages | : 60 |
Release | : 2011 |
Genre | : Law |
ISBN | : 1437988695 |
Download Residential Appraisals: Opportunities to Enhance Oversight of an Evolving Industry Book in PDF, ePub and Kindle
Real estate valuations, which encompass appraisals and other estimation methods, have come under increased scrutiny in the wake of the recent mortgage crisis. The Dodd- Frank Wall Street Reform and Consumer Protection Act mandated this study of the various valuation methods and the options available for selecting appraisers, as well as the Home Valuation Code of Conduct, which established appraiser independence requirements for mortgages sold to Fannie Mae and Freddie Mac. This report examined: (1) the use of different valuation methods; (2) factors affecting consumer costs for appraisals and appraisal disclosure requirements; and (3) conflict-of-interest and appraiser selection policies and views on their impact. A print on demand report.
Author | : United States. Department of Housing and Urban Development. Single Family Development Division |
Publisher | : |
Total Pages | : 264 |
Release | : 1990 |
Genre | : Mortgage guarantee insurance |
ISBN | : |
Download Valuation Analysis for Home Mortgage Insurance Book in PDF, ePub and Kindle
Author | : Mark Rattermann |
Publisher | : Appraisal Institute |
Total Pages | : 132 |
Release | : 2007 |
Genre | : Residential real estate |
ISBN | : 9780922154937 |
Download Valuation by Comparison Book in PDF, ePub and Kindle
Author | : William N. Kinnard |
Publisher | : |
Total Pages | : 22 |
Release | : 1978 |
Genre | : Real property |
ISBN | : |
Download An Appraisal Report Primer for Residential Lenders and Underwriters Book in PDF, ePub and Kindle
Author | : |
Publisher | : DIANE Publishing |
Total Pages | : 44 |
Release | : |
Genre | : |
ISBN | : 1428938060 |
Download Singlefamily housing HUD's riskbased oversight of appraisers could be enhanced : report to congressional addressees. Book in PDF, ePub and Kindle
Author | : |
Publisher | : |
Total Pages | : 1430 |
Release | : 2006 |
Genre | : Housing |
ISBN | : |
Download Journal of Housing Research Book in PDF, ePub and Kindle
Author | : United States. Veterans Benefits Administration |
Publisher | : |
Total Pages | : 56 |
Release | : 1990 |
Genre | : Appraisers |
ISBN | : |
Download Lender's Guide to the Lender Appraisal Processing Program Book in PDF, ePub and Kindle
Author | : Risa Palm |
Publisher | : Natural Hazards Research & Applications Information Center, Institute of Behavioral Science |
Total Pages | : 172 |
Release | : 1983 |
Genre | : Science |
ISBN | : |
Download Home Mortgage Lenders, Real Property Appraisers, and Earthquake Hazards Book in PDF, ePub and Kindle