The delinquency of subprime mortgages
By: by Michelle A. Danis and Anthony Pennington-Cross.
Contributors: Pennington-Cross, Anthony.; Federal Reserve Bank of St. Louis.
Series: Working paper ;; 2005-022A; Working paper (Federal Reserve Bank of St. Louis : Online) ;; 2005-022A.
Publisher: Federal Reserve Bank of St. Louis
Published: 2005
Place of publication: [St. Louis, Mo.]
Language: eng
Format: Electronic resource
Subjects: Default (Finance); Foreclosure
Description: "This paper focuses on understanding the determinants of the performance of subprime mortgages.  A growing body of literature recognizes the substantial lag between the time that a borrower stops making payments on a mortgage and the termination of the loan.  The duration of this lag and the method by which the delinquency is ultimately terminated play a critical role in the costs borne by both borrower and lender.  Using nested and multinomial logit, we find that delinquency and default are sensitive to current economic conditions and housing markets.  Credit scores and loan characteristics also play important roles"--Federal Reserve Bank of St. Louis web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 7/22/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.