Predatory lending practices and subprime foreclosures: Distinguishing impacts by loan category

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dc.contributor.authorRose, Morgan J.
dc.date.accessioned2020-07-08T17:56:24Z
dc.date.available2020-07-08T17:56:24Z
dc.date.issued2007-10-10
dc.description.abstractA recent dramatic rise in subprime foreclosures has led to calls for restrictions against a range of loan features loosely termed “predatory.” Several cities and states have enacted regulations to curb predatory practices, and some advocacy groups endorse action at the federal level. Using data on subprime refinance and purchase mortgages from the Chicago metropolitan area, I examine the impact of long prepayment penalty periods, balloon payments and reduced documentation on the probability of foreclosure. Results suggest that the relationship between these loan features and foreclosure rates is much more complicated than the arguments for restricting their use assume.en_US
dc.description.urihttps://www.sciencedirect.com/science/article/abs/pii/S014861950700063Xen_US
dc.format.extent48 pagesen_US
dc.genrejournal articles preprintsen_US
dc.identifierdoi:10.13016/m2dof0-rjzy
dc.identifier.citationMorgan J.Rose, Predatory lending practices and subprime foreclosures: Distinguishing impacts by loan category, Journal of Economics and Business Volume 60, Issues 1–2, Pages 13-32 (2008), https://doi.org/10.1016/j.jeconbus.2007.08.006en_US
dc.identifier.urihttps://doi.org/10.1016/j.jeconbus.2007.08.006
dc.identifier.urihttp://hdl.handle.net/11603/19087
dc.language.isoen_USen_US
dc.publisherElsevieren_US
dc.relation.isAvailableAtThe University of Maryland, Baltimore County (UMBC)
dc.relation.ispartofUMBC Economics Department Collection
dc.relation.ispartofUMBC Faculty Collection
dc.rightsThis item is likely protected under Title 17 of the U.S. Copyright Law. Unless on a Creative Commons license, for uses protected by Copyright Law, contact the copyright holder or the author.
dc.rights© 2007 Elsevier Inc. All rights reserved.
dc.titlePredatory lending practices and subprime foreclosures: Distinguishing impacts by loan categoryen_US
dc.typeTexten_US

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