scholarly journals The Home Mortgage Disclosure Act And Subprime Lending

2010 ◽  
Vol 26 (5) ◽  
Author(s):  
Rakesh K. Gupta ◽  
Hari Sharma ◽  
Cheryl E. Mitchem
Keyword(s):  
Mortgage Lending ◽  
Predatory Lending ◽  
Subprime Lending ◽  
Fixed Rate ◽  
Mortgage Industry ◽  
Reporting Requirements ◽  
Home Mortgage Disclosure Act ◽  
Adjustable Rate Mortgage ◽  
Home Mortgage ◽  
The Impact

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="color: black; font-size: 10pt; mso-themecolor: text1;"><span style="font-family: Times New Roman;">This research paper focuses on the analysis of subprime lending activities in specific geographic area in the light of reporting requirements of the Home Mortgage Disclosure Act (HMDA). This cross sectional study has focused on the detailed analysis of mortgage data for the selected Metropolitan Statistical Areas (MSA) from a socio-economic perspective. The objective of this research is to assess the impact of predatory lending in selected geographic regions. Another dimension of the research focuses on the role of mortgage lending from a securitization point of view. The study reveals that private securitization (PSEC) mortgages grew dramatically not only by the number of loans but also significantly by the dollar amount due to subprime lending activities during the period of study. The growth in PSEC loans affected mortgage lending in several ways, such as, increasing subprime lending, boosting home prices, and undermining mortgage industry regulations. Additionally, Government-Sponsored Enterprises (GSEs) loan originations also increased the number of subprime loans because of relaxed reporting requirements which contributed to increased delinquencies and foreclosures for conforming loans. The study further reveals that HMDA reporting requirements allowed the mortgage industry to conceal the loans that had spreads above the prime rate of up to 3.5 points for Fixed Rate Mortgage or 5 points for Adjustable Rate Mortgage (ARM). The study of mortgage lending programs, products, and regulatory laws have also been examined to assess the impact of predatory lending on homeownership. </span></span></p>

scholarly journals Collateral Damage: The Impact of Foreclosures on New Home Mortgage Lending in the 1930s

2018 ◽  
Author(s):  
Price Fishback ◽  
Sebastián Fleitas ◽  
Jonathan Rose ◽  
Kenneth Snowden
Keyword(s):  
Mortgage Lending ◽  
Collateral Damage ◽  
Home Mortgage ◽  
The Impact

Discrimination in mortgage lending: The Home Mortgage Disclosure Act

1982 ◽  
Vol 1 (3) ◽  
pp. 283-296 ◽  
Author(s):  
Rebecca F. Guy ◽  
Louis G. Pol ◽  
Randy E. Ryker
Keyword(s):  
Mortgage Lending ◽  
Home Mortgage Disclosure Act ◽  
Home Mortgage

scholarly journals Collateral Damage: The Impact of Foreclosures on New Home Mortgage Lending in the 1930s

2020 ◽  
Vol 80 (3) ◽  
pp. 853-885
Author(s):  
Price Fishback ◽  
Sebastian Fleitas ◽  
Jonathan Rose ◽  
Ken Snowden
Keyword(s):  
Real Estate ◽  
Great Depression ◽  
Mortgage Lending ◽  
Credit Crunch ◽  
Collateral Damage ◽  
Balance Sheets ◽  
The Great Depression ◽  
Mortgage Credit ◽  
Home Mortgage ◽  
The Impact

The Great Depression of the 1930s involved a severe disruption in the supply of home mortgage credit. This paper empirically identifies a mechanism lying behind this credit crunch: the impairment of lenders’ balance sheets by illiquid foreclosed real estate. With data on hundreds of building and loans (B&Ls), the leading mortgage lenders in this period, we find that the overhang of foreclosed real estate explains about 30 percent of the drop in new lending between 1930 and 1935.

scholarly journals Cause Determination of the Adjustable-Rate Mortgage Market Collapse During the Financial Crisis

2020 ◽  
Vol 12 (11) ◽  
pp. 83
Author(s):  
Ryan P. Wang
Keyword(s):  
Financial Crisis ◽  
Mortgage Market ◽  
Percentage Increase ◽  
Predatory Lending ◽  
Key Factors ◽  
Popular Narrative ◽  
Adjustable Rate ◽  
Adjustable Rate Mortgage ◽  
The Impact

This paper provides insight into what caused the decline of the adjustable-rate mortgage (ARM) market during the 2007&ndash;2009 financial crisis. Contrary to common perception, the failure of the ARM market cannot be primarily attributed to predatory lending targeting subprime borrowers from low-credit households. This popular narrative is incomplete and disregards some important factors. I present three key factors that challenge the narrative and point to previously undiscussed sources that may have contributed to the ARM market collapse. First, the accusation of predatory lending does not account for other possible causes of mass ARM defaults. Second, the sole focus on the market&rsquo;s subprime segment disregards the impact of prime ARMs on the market. Third, the narrative&rsquo;s citation of subprime ARMs having greater delinquency rates and foreclosure numbers fails to recognize the significant percentage increase in prime ARM failures in the years leading up to the crisis, as well the disparity in typical outstanding balances between subprime and prime ARMs.

Mandatory corporate social responsibility in India: reporting reality, issues and way forward

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pawan Taneja ◽  
Ameeta Jain ◽  
Mahesh Joshi ◽  
Monika Kansal
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Mandatory Reporting ◽  
Content Type ◽  
Csr Reporting ◽  
Reporting Requirements ◽  
Expectation Gap ◽  
The Government ◽  
Corporate Social ◽  
The Impact

Purpose Since 2013, the Indian Companies Act Section 135 has mandated corporate social responsibility (CSR) reporting by Indian central public sector enterprises (CPSEs). CSR reporting is regulated by multiple Government of India ministerial agencies, each requiring different formats and often different data. This study aims to understand the impact of these multiple regulatory bodies on CSR reporting by Indian CPSEs; evaluate the expectation gap between regulators and the regulated; and investigate the compliance burden on CPSEs. Design/methodology/approach An interview-based approach was adopted to evaluate the perspectives of both regulators and regulated CPSEs on the impact of the new regulations on CSR reporting quality. The authors use the lens of institutional theory to analyse the findings. Findings Driven by coercive institutional pressures, CPSEs are overburdened with myriad reporting requirements, which significantly negatively impact CPSEs’ financial and human resources and the quality of CSR activity and reports. It is difficult for CPSEs to assess the actual impact of their CSR activities due to overlapping with activities of the government/other institutions. The perceptions of regulators and the regulated are divergent: the regulators expect CPSEs to select more impactful CSR projects to comply with mandatory reporting requirements. Originality/value The findings of this study emphasise the need for meaningful dialogue between regulators and the regulated to reduce the expectation gap and establish a single regulatory authority that will ensure that the letter and spirit of the law are followed in practice and not just according to a tick-box approach.

Sign in / Sign up

Export Citation Format

Share Document