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Prepayment penalties on subprime mortgages

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Author Info
O. Emre Ergungor

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Abstract

As a result of the subprime mortgage mess, prepayment penalties are under close scrutiny. While these, like other kinds of contract terms, can be abused, there are good reasons for why they exist. In principle, they serve to extend credit to a greater number of borrowers.

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File URL: http://www.clevelandfed.org/Research/commentary/2007/0901.pdf
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Publisher Info
Article provided by Federal Reserve Bank of Cleveland in its journal Economic Commentary.

Volume (Year): (2007)
Issue (Month): Sep 1 ()
Pages:
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Handle: RePEc:fip:fedcec:y:2007:i:sep1

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Related research
Keywords: Mortgage loans ; Prepayment of debts;

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This page was last updated on 2009-11-18.

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