Subprime Mortgage Lending in New York City

Released on by Ebiere Okah
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  • Subprime Mortgage Lending in New York City Book Detail

  • Author : Ebiere Okah
  • Release Date : 2010-08
  • Publisher : DIANE Publishing
  • Genre : Business & Economics
  • Pages : 40
  • ISBN 13 : 1437930921
  • File Size : 45,45 MB
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Subprime Mortgage Lending in New York City by Ebiere Okah PDF Summary

Book Description: Subprime mortgage lending expanded in New York City between 2004 and mid-2007, and delinquencies on these subprime loans have been rising sharply. The authors describe the main features of this lending and model the performance of these loans. These subprime loans are found to be clustered in neighborhoods where average borrower credit quality is low and, unlike prime mortgage loans, where African-Americans and Hispanics constitute relatively large shares of the population. The authors estimate a model of the likelihood that these loans will become seriously delinquent and find a significant role for credit quality of borrowers, debt-to-income and loan-to-value ratios at the time of loan origination, and estimates of the loss of home equity. Illus.

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Subprime Mortgage Lending in New York City

Subprime Mortgage Lending in New York City

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Subprime mortgage lending expanded in New York City between 2004 and mid-2007, and delinquencies on these subprime loans have been rising sharply. The authors d

Subprime Mortgages

Subprime Mortgages

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Over the past decade, a new mortgage market offering loans at low interest rates and for little or no money down has given low-income people an opportunity to p