کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
959897 929383 2009 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Predatory mortgage lending
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
پیش نمایش صفحه اول مقاله
Predatory mortgage lending
چکیده انگلیسی

Regulators express growing concern over predatory loans, which we take to mean loans that borrowers should decline. Using a model of consumer credit in which such lending is possible, we identify the circumstances in which it arises both with and without competition. We find that predatory lending is associated with highly collateralized loans, inefficient refinancing of subprime loans, lending without due regard to ability to pay, prepayment penalties, balloon payments, and poorly informed borrowers. Under most circumstances competition among lenders attenuates predatory lending. We use our model to analyze the effects of legislative interventions.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 94, Issue 3, December 2009, Pages 412–427
نویسندگان
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