Mortgage Mistakes? Demographic Factors Associated with Problematic Loan Application Behaviors
| Autor: | J. Michael Collins |
|---|---|
| Rok vydání: | 2011 |
| Předmět: |
Economics and Econometrics
Actuarial science Social Psychology Home Mortgage Disclosure Act business.industry media_common.quotation_subject Ethnic group Shared appreciation mortgage Mortgage insurance Interest rate Participation loan Race (biology) Loan Bridge loan Economics Mortgage underwriting Non-conforming loan business Social policy media_common |
| Zdroj: | SSRN Electronic Journal. |
| ISSN: | 1556-5068 |
| DOI: | 10.2139/ssrn.1507276 |
| Popis: | Using 2005 Home Mortgage Disclosure Act data, this study explores problematic mortgage application behaviors including submitting incomplete paperwork when seeking a mortgage, withdrawing a loan application before the lender makes a credit decision, rejecting a lender approved loan offer and accepting a high interest rate loan. Tract-level college completion rates, homeownership rates, and household age, as well as race, ethnicity, and income are all associated with problematic loan application behaviors, although these relationships vary across behaviors. The results of this analysis may prove useful for targeting financial education and counseling efforts to areas with the greater potential needs. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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