Residential Mortgage Default PDF Download
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| Author | : Andra C. Ghent |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2011 |
| Genre | : |
| ISBN | : |
Download Recourse and Residential Mortgage Default Book in PDF, ePub and Kindle
We quantify the effect of recourse on default. We find that recourse affects default through lowering the borrower's sensitivity to negative equity. At the mean value of the default option for defaulted loans, borrowers are 30% more likely to default in non-recourse states; for homes appraised at $500,000 to $750,000, borrowers are twice as likely to default in non-recourse states. We also find that, in states that allow deficiency judgments, defaults are more likely to occur through a lender-friendly procedure, such as a deed in lieu. We find no evidence that mortgage interest rates are lower in recourse states.
| Author | : Neil G. Waller |
| Publisher | : |
| Total Pages | : 21 |
| Release | : 1988 |
| Genre | : Default (Finance) |
| ISBN | : |
Download Residential Mortgage Default Book in PDF, ePub and Kindle
| Author | : Min Qi |
| Publisher | : |
| Total Pages | : 48 |
| Release | : 2007 |
| Genre | : Default (Finance) |
| ISBN | : |
Download Loss Given Default of High Loan-to-value Residential Mortgages Book in PDF, ePub and Kindle
This paper studies residential mortgage loss given default using a large set of historical loan-level default and recovery data of high loan-to-value mortgages from several private mortgage insurance companies. We show that loss given default can largely be explained by various characteristics associated with the loan, the underlying property, and the default, foreclosure, and settlement process. We find that the current loan-to-value ratio is the single most important determinant. More importantly, mortgage loss severity in distressed housing markets is significantly higher than under normal housing market conditions. Our empirical results have important policy implications for risk-based capital.
| Author | : B. W. Ambrose |
| Publisher | : Springer |
| Total Pages | : 293 |
| Release | : 2007-10-29 |
| Genre | : Business & Economics |
| ISBN | : 0230608914 |
Download Household Credit Usage Book in PDF, ePub and Kindle
In response to growing interest in household finance, this collection of essays with a foreword by John Y. Campbell, studies household and consumer use of credit instruments. It shows how individual consumers and households utilize various credit alternatives in managing their consumption and savings and suggests areas for future research.
| Author | : Yanan Zhang |
| Publisher | : International Monetary Fund |
| Total Pages | : 31 |
| Release | : 2010-07-01 |
| Genre | : Business & Economics |
| ISBN | : 1455201782 |
Download Local Housing Market Cycle and Loss Given Default Book in PDF, ePub and Kindle
This paper studies the impact of housing market cycles on loss given default (LGD). Previous studies have shown that the current loan-to-value ratio (CLTV) is the most important determinant of LGD. This paper establishes another linkage which is between the house price cycles before the time of mortgage origination and LGD. The empirical analysis is based on a large loan-level sub-prime residential mortgage loss dataset from 1998 to 2009. Results show that house price history has a long memory in explaining LGD. Its explanatory power far exceeds the original LTV and other loan characteristics. This paper offers a countercyclical view of LGD risk. The model can be combined with a default probability model to serve as a regulatory prudential tool. Such a tool provides a solution to the inherent procyclical bias in BASEL II capital requirements, and can contribute to the safety and soundness of banking institutions.
| Author | : Andrea C. Ghent |
| Publisher | : |
| Total Pages | : |
| Release | : 2009 |
| Genre | : |
| ISBN | : |
Download Resource and Residential Mortgage Default Book in PDF, ePub and Kindle
| Author | : Office of the Comptroller of the Currency |
| Publisher | : CreateSpace |
| Total Pages | : 38 |
| Release | : 2014-12-31 |
| Genre | : Reference |
| ISBN | : 9781505309805 |
Download Loss Given Default of High Loan-To-Value Residential Mortgages Book in PDF, ePub and Kindle
This paper studies residential mortgage loss given default using a large set of historical loan-level default and recovery data of high loan-to-value mortgages from several private mortgage insurance companies. We show that loss given default can largely be explained by various characteristics associated with the loan, the underlying property, and the default, foreclosure, and settlement process.
| Author | : Juan Carlos Hatchondo |
| Publisher | : International Monetary Fund |
| Total Pages | : 33 |
| Release | : 2012-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1463932537 |
Download Mortgage Defaults Book in PDF, ePub and Kindle
This paper incorporates house price risk and mortgages into a standard incomplete market (SIM) model. The model is calibrated to match U.S. data and accounts for non-targeted features of the data such as the distribution of down payments, the life-cycle profile of home ownership, and the mortgage default rate. The average coefficients that measure the agents' ability to self-insure against income shocks are similar to those of a SIM model without housing but housing increases the values of these coefficients for younger agents. The response of consumption to house price shocks is minimal. The introduction of minimum down payments or income garnishment benefits a majority of the population.
| Author | : David B. Nickerson |
| Publisher | : |
| Total Pages | : 30 |
| Release | : 1999 |
| Genre | : |
| ISBN | : |
Download The Impact of Crime Rates on Residential Mortgage Default Book in PDF, ePub and Kindle
Although crime rates have long been thought to influence residential housing prices, no previous study has measured the effect of crime rates on rates of default on residential mortgages. Using a standard model of default in which crime rates can affect both the value of property and the liquidity of mortgageholders this paper empirically measures the effect of state--level crime on the frequency of residential mortgage default. Specifically, regression analysis, based on FBI data on both violent and property crime rates, is used to analyze default rates over a pooled sample of residential mortgages for all U.S. states and the District of Columbia during a 14--year period (1981-94).It is found that crime, possibly acting as a proxy for more general socioeconomic neighborhood deterioration, significantly affects the rate of mortgage default. This effect, somewhat surprisingly, is most important for conventional mortgage loans. Violent crime has a more delayed impact than does property crime in increasing defaults. Other factors which are found to strongly influence default are state--level personal income growth and state unemployment rates. These results support the assertion that the economic costs of crime are more pervasive and subtle than often discussed.
| Author | : Konrad Bobilak |
| Publisher | : Global Publishing Group |
| Total Pages | : 242 |
| Release | : 2018-11-01 |
| Genre | : Business & Economics |
| ISBN | : 1925282163 |
Download Australian Property Finance Made Simple Book in PDF, ePub and Kindle
An essential tool for any serious property investor who is wanting to stake their claim in the 5.4 trillion dollar residential property market. Finally, an ex-banker, mortgage broker and property millionaire's 'tell-all' step-by-step blueprint, explaining how to build, structure and automate a multi-million dollar residential investment property portfolio correctly, that has the potential to replace your income for life! International author, speaker, entrepreneur and property expert Konrad Bobilak reveals all in this insightful and valuable book. You'll learn:- How to potentially save thousands of dollars in interest payments, and pay off your current 30-year principle and interest mortgage in 15 years or less without making any additional payments.- How to correctly structure your first and subsequent investment property acquisitions, and why you should never cross-collateralise your properties.- The function and importance of LVR (loan to value ratio), LOC (line of credit facilities), LMI (lenders mortgage insurance), offset accounts, and terms and conditions of loans.- How to beat the banks at their own game by understanding the exact formulas that the banks use to work out how much money you can borrow; DSR (debt servicing ratio).- 12 powerful ways to supercharge your borrowing capacity that will enable you to buy more property than you ever thought possible.- 19 crucial questions that you must know in order to choose the best mortgage broker in the industry.- 12 most common and deadly property finance mistakes and how you can avoid them. This book will boost your financial literacy and intelligence, and take your property investing to a whole new level!
