The great surge in mortgage defaults 2006–2009: The comparative roles of economic conditions, underwriting and moral hazard

Autor:	Dennis R. Capozza, Robert Van Order
Rok vydání:	2011
Předmět:	Economics and Econometrics Actuarial science Moral hazard Economics Mortgage underwriting Credit crunch Sample (statistics) Default Morale hazard Credit risk Underwriting
Zdroj:	Journal of Housing Economics. 20:141-151
ISSN:	1051-1377
DOI:	10.1016/j.jhe.2011.04.005
Popis:	In this research we exploit the power of a large and rich sample of individual loans originated from 2000 to 2007 to study the relative roles of underwriting, moral hazard and local economic conditions in the Great Surge in mortgage defaults. With these data we can observe the information available to investors and control for observable underwriting as well as economic conditions. We can also use the data to infer the share due to moral hazard. Estimates from these data suggest that much of the variation was due to economic conditions.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::ee6e0669159c0f7313176293ead6062b https://doi.org/10.1016/j.jhe.2011.04.005 Zobrazit plný text záznamu Full Text from ScienceDirect