Non-Prime Mortgages
Author | : William B. Shear |
Publisher | : DIANE Publishing |
Total Pages | : 73 |
Release | : 2011 |
ISBN-10 | : 9781437940183 |
ISBN-13 | : 1437940188 |
Rating | : 4/5 (83 Downloads) |
Book excerpt: This is a print on demand edition of a hard to find publication. The surge in mortgage foreclosures that began in late 2006 and continues today was initially driven by deterioration in the performance of non-prime loans. Non-prime mortgage originations increased dramatically from 2000 through 2006, rising from 12% of all mortgage originations to 34%. The non-prime market contracted sharply in mid-2007, in response to increasing defaults and foreclosures for these loans. This report: (1) provides info. on the performance of non-prime loans through 12/31/09; (2) examines how loan and borrower characteristics and economic conditions influenced the likelihood of default of non-prime loans; and (3) describes the features of data on non-prime loan performance and borrower characteristics. Illus.