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Subprime Mortgage Lending in New York City

2010-08 Business & Economics
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Release : 2010-08
Genre : Business & Economics
Kind : eBook
Book Rating : 921/5 ( reviews)

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Book Synopsis Subprime Mortgage Lending in New York City by : Ebiere Okah

Download or read book Subprime Mortgage Lending in New York City written by Ebiere Okah. This book was released on 2010-08. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Effects of the Subprime Mortgage Crisis in New York City and Efforts to Help Struggling Homeowners

2008 Business & Economics
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Release : 2008
Genre : Business & Economics
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Effects of the Subprime Mortgage Crisis in New York City and Efforts to Help Struggling Homeowners by : United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit

Download or read book Effects of the Subprime Mortgage Crisis in New York City and Efforts to Help Struggling Homeowners written by United States. Congress. House. Committee on Financial Services. Subcommittee on Financial Institutions and Consumer Credit. This book was released on 2008. Available in PDF, EPUB and Kindle. Book excerpt:

A Perfect Storm

2008 Foreclosure
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Release : 2008
Genre : Foreclosure
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis A Perfect Storm by : New York (State). Temporary Commission of Investigation

Download or read book A Perfect Storm written by New York (State). Temporary Commission of Investigation. This book was released on 2008. Available in PDF, EPUB and Kindle. Book excerpt:

Understanding the Securitization of Subprime Mortgage Credit

2010-03
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Release : 2010-03
Genre :
Kind : eBook
Book Rating : 146/5 ( reviews)

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Book Synopsis Understanding the Securitization of Subprime Mortgage Credit by : Adam B. Ashcraft

Download or read book Understanding the Securitization of Subprime Mortgage Credit written by Adam B. Ashcraft. This book was released on 2010-03. Available in PDF, EPUB and Kindle. Book excerpt: Provides an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. Discusses the ways that market participants work to minimize these frictions and speculate on how this process broke down. Continues with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. Presents the key structural features of a typical subprime securitization, documents how rating agencies assign credit ratings to mortgage-backed securities, and outlines how these agencies monitor the performance of mortgage pools over time. The authors draw upon the example of a mortgage pool securitized by New Century Financial during 2006. Illustrations.

Subprime Mortgages

2007 Business & Economics
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Release : 2007
Genre : Business & Economics
Kind : eBook
Book Rating : 391/5 ( reviews)

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Book Synopsis Subprime Mortgages by : Edward M. Gramlich

Download or read book Subprime Mortgages written by Edward M. Gramlich. This book was released on 2007. Available in PDF, EPUB and Kindle. Book excerpt: 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 pursue the American dream of homeownership. The resulting wave in home buying promised to stabilize neighborhoods and families, boost the economy, and reduce crime. In many ways, the optimists were correct, but now, less than fifteen years later, the subprime mortgage market is collapsing, threatening to take the rest of the housing sector along with it.Subprime Mortgages: America's Latest Boom and Bust analyzes how the subprime market emerged, why it is in crisis, and how we can reform public policy to avert disaster. An attendant examination of the rental market also offers recommendations for shoring up what may be the best housing option for some families.

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