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

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.

Download Full-text

Collateral Damage: The Impact of Shale Gas on Mortgage Lending

10.3386/w29494 ◽

2021 ◽

Author(s):

Yanyou Chen ◽

James Roberts ◽

Christopher Timmins ◽

Ashley Vissing

Keyword(s):

Shale Gas ◽

Mortgage Lending ◽

Collateral Damage ◽

The Impact

Download Full-text

The Home Mortgage Disclosure Act And Subprime Lending

Journal of Applied Business Research (JABR) ◽

10.19030/jabr.v26i5.322 ◽

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

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.

Download Full-text

Changes in Personal Bankruptcy Protection Laws: The Impact to Home Mortgage Lending

SSRN Electronic Journal ◽

10.2139/ssrn.3314880 ◽

2018 ◽

Author(s):

Jason Damm ◽

Masim Suleymanov

Keyword(s):

Mortgage Lending ◽

Personal Bankruptcy ◽

Home Mortgage ◽

The Impact

Download Full-text

Collateral Damage: The Impact of Shale Gas on Mortgage Lending

SSRN Electronic Journal ◽

10.2139/ssrn.3968717 ◽

2021 ◽

Author(s):

Yanyou Chen ◽

James W. Roberts ◽

Christopher D. Timmins ◽

Ashley Vissing

Keyword(s):

Shale Gas ◽

Mortgage Lending ◽

Collateral Damage ◽

The Impact

Download Full-text

Revealing of the specificity of mortgage housing lending based on the results of clustering of regions

Finance and Credit ◽

10.24891/fc.27.12.2679 ◽

2021 ◽

Vol 27 (12) ◽

pp. 2679-2697

Author(s):

Lyudmila E. ROMANOVA ◽

Anna L. SABININA ◽

Andrei I. CHUKANOV ◽

Dar’ya M. KORSHUNOVA

Keyword(s):

Systems Approach ◽

Mortgage Lending ◽

Effective Algorithm ◽

Russian Regions ◽

Local Conditions ◽

Partitioning Around Medoids ◽

Analysis And Synthesis ◽

The Russian Federation ◽

The Impact ◽

Regions Of Russia

Subject. This article deals with the particularities of the development of housing mortgage lending in the regions of Russia. Objectives. The article aims to substantiate the need for clustering of territorial entities by level of development of mortgage housing lending in Russia and test the most effective algorithm for mortgage clustering of regions. Methods. For the study, we used a systems approach, including scientific abstraction, analysis and synthesis, and statistical methods of data analysis. The algorithm k-medoids – Partitioning Around Medoids (PAM) was also used. Results. Based on the results of the study of regional statistics of the Russian Federation, the article reveals a significant asymmetry in the values of key socioeconomic indices that determine the level and dynamics of housing mortgages in the regions. This necessitates the clustering of territorial entities according to the level of development of mortgage housing lending in the country. To take into account the impact of various local conditions in assessing the prospects for the development of regional housing mortgages, the article proposes an indicator, namely, the integral regional mortgage affordability index. On its basis, in accordance with the selected clustering procedure, the article identifies five mortgage clusters in Russia and identifies their representative regions. Conclusions. Based on the analysis of the specificity of the development of regional mortgages in the Tula Oblast, taking into account the implementation of the target State programme, the article concludes that it is necessary to improve the mechanisms for financing regional mortgage programmes and justifies the need to develop differentiated programmes for the development of housing mortgages in groups of Russian regions.

Download Full-text

NEGATIVE INFLUENCE OF MORTGAGE LOANS ON THE DEMOGRAPHIC SITUATION IN RUSSIA

CONTEMPORARY ECONOMIC PROBLEMS OF RUSSIA AND CHINA ◽

10.22250/medprh.31 ◽

2021 ◽

Author(s):

A.V. Velegurov ◽

◽

V.S. Istomin ◽

Keyword(s):

Birth Rate ◽

Negative Influence ◽

Mortgage Lending ◽

Mortgage Loans ◽

Demographic Situation ◽

The Impact

The article examines the problem of fertility in Russia, the impact of mortgage lending on it, as well as methods of influence to stabilize the birth rate

Download Full-text

The impact of COVID-19 on the provision of donor hematopoietic stem cell products worldwide: collateral damage

Bone Marrow Transplantation ◽

10.1038/s41409-020-0873-x ◽

2020 ◽

Vol 55 (10) ◽

pp. 2043-2044 ◽

Cited By ~ 11

Author(s):

Jeff Szer ◽

Daniel Weisdorf ◽

Sergio Querol ◽

Lydia Foeken ◽

Alejandro Madrigal

Keyword(s):

Stem Cell ◽

Hematopoietic Stem Cell ◽

Collateral Damage ◽

Hematopoietic Stem ◽

The Impact

Download Full-text

Collateral damage: the impact on outcomes from cancer surgery of the COVID-19 pandemic

Annals of Oncology ◽

10.1016/j.annonc.2020.05.009 ◽

2020 ◽

Vol 31 (8) ◽

pp. 1065-1074 ◽

Cited By ~ 62

Author(s):

A. Sud ◽

M.E. Jones ◽

J. Broggio ◽

C. Loveday ◽

B. Torr ◽

...

Keyword(s):

Cancer Surgery ◽

Collateral Damage ◽

The Impact

Download Full-text

Japan’s Security and Historical Revisionism: Explaining the Variation in Responses to and Impact of Textbook Controversies

Journal of Asian Security and International Affairs ◽

10.1177/2347797016670704 ◽

2016 ◽

Vol 3 (3) ◽

pp. 307-336

Author(s):

M. Erika Pollmann

Keyword(s):

Empirical Evidence ◽

Negative Impact ◽

Important Determinant ◽

The Philippines ◽

Collateral Damage ◽

Historical Revisionism ◽

Soft Balancing ◽

Per Se ◽

Economic Relationship ◽

The Impact

This article builds on previous academic works to elucidate a theory as to how Japan’s historical revisionism could have a negative impact on Japan’s security. It then tests this theory by examining the impact that the 1982, 1986, 2001 and 2005 controversies had on Japan’s relationships with China, South Korea, Indonesia, the Philippines and Vietnam. It concludes that historical revisionism does not have a significant security impact, defined as audience states’ distancing themselves from Japan, diplomatically ‘soft’ balancing Japan, or militarily ‘hard’ balancing Japan. This research design is an improvement over previous works on this subject because it draws a clear distinction between reaction and impact. Even though it is ‘cheap’ to impute Japanese motives following an act of historical revisionism, it is ‘costly’ to act on such accusations by either distancing from Japan or balancing against Japan. This helps clarify what concerns– if any–Japan should have about the collateral damage arising from historical revisionism. Based on the empirical evidence examined, historical revisionism per se does not pose a serious problem to Japan because the most important determinant of how severe a controversy’s impact on Japan’s relationship with a given audience state is the pre-existing nature of Japan’s security and economic relationship with that state. The most significant consequence of revisionism is that it presents an opening for China—Japan’s main security rival in the region—to attempt to ‘soft’ balance Japan by rallying international opinion against Japan in such a way as to impede other Japanese diplomatic objectives.

Download Full-text