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Author: Barry Leonard
Publisher: DIANE Publishing
Keywords: mortgages, rate, adjustable, handbook, consumer
Number of Pages: 40
Published: 2007-10-01
ISBN-10: 1422317536
ISBN-13: 9781422317532

Adjustable-rate mortgages (ARMs) are loans with interest rates that change. ARMs may start with lower monthly payments than fixed-rate mortgages, but your monthly payments could change & go up -- sometimes by a lot; they may not go down much, or at all -- even if interest rates go down; you could end up owing more money than you borrowed; & if you want to pay off your ARM early to avoid higher payments, you might have to pay a penalty. The handbook explains how ARMs work & discusses some of the issues that borrowers may face. It includes ways to reduce the risks & gives some pointers about adv

Author: John Krainer
Publisher: DIANE Publishing
Keywords: mortgage, valuation, default
Number of Pages: 45
Published: 2010-10
ISBN-10: 143793384X
ISBN-13: 9781437933840

The authors develop an equilibrium valuation model that incorporates optimal default to show how mortgage yields and lender recovery rates on defaulted mortgages depend on initial loan-to-value (LTV) ratios. The analysis treats both the frictionless case and the case in which borrowers and lenders incur deadweight costs upon default. The model is calibrated using data on California mortgages. Given reasonable parameter values, the model does a surprisingly good job fitting the risk premium in the data for high LTV mortgages. Thus, from an ex ante perspective, the authors do not find strong evi

Author: Gene Amromin
Publisher: DIANE Publishing
Keywords: mortgages, reprint, economic, perspectives, subprime, prime, patterns, default, among, comparing
Number of Pages: 20
Published: 2010-01
ISBN-10: 1437919189
ISBN-13: 9781437919189

This article compares default patterns among prime and subprime mortgages, analyzes the factors correlated with default, and examines how forecasts of defaults are affected by alternative assumptions about trends in home prices. The authors find that extremely pessimistic forecasts of home price appreciation could have generated predictions of subprime defaults that were closer to the actual default experience for loans originated in 2006 and 2007. However, for prime loans one would have also had to anticipate that defaults would become much more sensitive to home prices. Tables and graphs.

Author: Kristopher S. Gerardi
Publisher: DIANE Publishing
Keywords: neighborhoods, urban, foreclosures, mortgages, subprime
Number of Pages: 39
Published: 2010-06
ISBN-10: 143792879X
ISBN-13: 9781437928792

Analyzes the impact of the subprime mortgage crisis on urban neighborhoods in Mass. Explores the topic using a data set that matches race and income info. with property-level, transaction data. Much of the subprime lending in the state was concentrated in urban neighborhoods and that minority homeownerships created with subprime mortgages have proved exceptionally unstable in the face of rapid price declines. Subprime lending did not, as commonly believed, lead to a substantial increase in homeownership by minorities but instead generated turnover in properties owned by minority residents. The

Author: Manuel Adelino
Publisher: DIANE Publishing
Keywords: redefaults, cures, securitization, mortgages, home, lenders, renegotiate, don’t
Number of Pages: 41
Published: 2011-01
ISBN-10: 1437928714
ISBN-13: 9781437928716

This is a print on demand edition of a hard to find publication. Servicers have been reluctant to renegotiate mortgages since the foreclosure crisis started in 2007, having performed payment-reducing modifications on only 3% of seriously delinquent loans. This reluctance does not result from securitization: Servicers renegotiate similarly small fractions of loans that they hold in their portfolios. The paperżs results are robust to different definitions of renegotiation, including the one most likely to be affected by securitization, and to different definitions of delinquency. Redefault risk

Author: Richard J. Hillman
Publisher: DIANE Publishing
Keywords: growth, activity, depends, various, factors, market, secondary, mac, revised, charter, enhances, farmer
Number of Pages: 108
Published: 1999-11
ISBN-10: 0756706866
ISBN-13: 9780756706869

The Federal Agricultural Mortgage Corp. (Farmer Mac-(FM)) is a government-sponsored (GS) enterprise that was established to create a secondary market (SM) in agricultural mortgages, thus improving the availability of agricultural mortgage credit. To relieve impediments that had limited FM's ability to function efficiently, Congress passed the Farm Credit System Reform Act of 1996, which revised FM's authorities. This report reviews the progress that FM has made in achieving its mission & examines its viability. The objectives were to: (1) examine actions taken by FM to promote the development

Author: William B. Shear
Publisher: DIANE Publishing
Keywords: markets, driven, benefits, provided, secondary, sba, business, administration, size, small
Number of Pages: 62
Published: 1999-07
ISBN-10: 0756702410
ISBN-13: 9780756702410

Discusses the secondary markets for small bus. loans guaranteed by the SBA; these loans are known as SBA 7(a) loans. The objectives of this report are to: (1) discuss the benefits & risks of secondary loan markets to participants; (2) identify primary benefits & risks to participants in the guaranteed 7(a) secondary markets & the unguaranteed 7(a) secondary markets; & (3) compare the guaranteed 7(a) secondary markets with the secondary markets for federally guaranteed residential mortgages, & the unguaranteed 7(a) secondary markets with the secondary markets for residential mortgages without a
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