Predatory lending laws and the cost of credit
By: by Giang Ho and Anthony Pennington-Cross.
Contributors: Pennington-Cross, Anthony.; Federal Reserve Bank of St. Louis.
Series: Working paper -- 2006-022A; Working paper (Federal Reserve Bank of St. Louis : Online) -- 2006-022A.
Publisher: Federal Reserve Bank of St. Louis
Published: 2006
Place of publication: [St. Louis, Mo.]
Language: eng
Format: Electronic resource
Subjects: Subprime mortgage loans -- United States.
Description: "Various states and other local jurisdictions have enacted laws intending to reduce predatory and abusive lending in the subprime mortgage market.  These laws have created substantial geographic variation in the regulation of mortgage credit.  This paper examines whether these laws are associated with a higher or lower cost of credit.  Empirical results indicate that the laws are associated with at most a modest increase in cost.  However, the impact depends on the product type.  In particular, loans with fixed (adjustable) rates are associated a modest increase (decrease) in cost"--Federal Reserve Bank of St. Louis web site.
Notes: Title from PDF file as viewed on 6/26/2006.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.