The “New Normal” in Mortgage Lending and Its Impact on Default Probabilities

Anderson, C. D., Capozza, D. R., & Van Order, R. (2008). Deconstructing the Subprime Debacle Using New Indices of Underwriting Quality and Economic Conditions: A First Look. SSRN. https://doi.org/10.2139/ssrn.116007310.2139/ssrn.1160073 Search in Google Scholar

Bernanke, B. S. (2008). Fostering Sustainable Homeownership, Speech at the National Community Reinvestment Coalition Annual Meeting. www.federalreserve.gov Search in Google Scholar

Chomsisengphet, S., & Pennington-Cross, A. (2006). The Evolution of the Subprime Mortgage Market. Federal Reserve Bank of St. Louis Review, 88(1), 31–56. https://doi.org/10.20955/r.88.31-5610.20955/r.88.31-56 Search in Google Scholar

Gerardi, K., Shapiro, A. H., & Willen, P. S. (2007). Subprime Outcomes: Risky Mortgages, Homeownership Experiences, and Foreclosures. FRB of Boston Working Paper No. 07-15. https://doi.org/10.2139/ssrn.107318210.2139/ssrn.1073182 Search in Google Scholar

Mallach, A. (2007). Lower Income Homeownership, the Subprime Lending Industry and the Public Good: A Conceptual Inquiry. Unpublished working paper. Search in Google Scholar

Mayer, C., & Pence, K. (2008). Subprime Mortgages: What, Where, and to Whom? NBER Working Paper Series No. 14083. https://doi.org/10.3386/w1408310.3386/w14083 Search in Google Scholar

Nichols, J., Pennington-Cross, A., & Yezer, A. (2005). Borrower Self-Selection, Underwriting Costs, and Subprime Mortgage Credit Supply. The Journal of Real Estate Finance and Economics, 30(2), 197–219. https://doi.org/10.1007/s11146-004-4879-810.1007/s11146-004-4879-8 Search in Google Scholar

Pennington-Cross, A. (2003). Credit History and the Performance of Prime and Nonprime Mortgages. The Journal of Real Estate Finance and Economics, 27(3), 279–301. https://doi.org/10.1023/A:102589122322610.1023/A:1025891223226 Search in Google Scholar

Pennington-Cross, A., Yezer, A., & Nichols, J. (2003). Credit Risk and Mortgage Lending: Who Uses Subprime and Why? Working Paper No.00-03. Research Institute for Housing America. Search in Google Scholar

Schloemer, E., Li, W., Ernst, K., & Keest, K. (2006). Losing Ground: Foreclosures in the Subprime Market and Their Cost to Homeowners. Center for Responsible Lending. Search in Google Scholar

Straka, J. W. (2000). A Shift in the Mortgage Landscape: The 1990s Move to Automated Credit Evaluations. Journal of Housing Research, 11(2), 207–232. Search in Google Scholar