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Supplementary results for “Geographic Variation in Subprime Loan Features, Foreclosures and Prepayments”

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Abstract

This document provides supplementary results to the analyses of Rose (2011), “Geographic Variation in Subprime Loan Features, Foreclosures and Prepayments,” which examines the geographic variation in the effects of prepayment penalties, balloon loans, and reduced documentation on the probabilities of foreclosure and prepayment. Specifically, this supplement presents complete results for all specifications reported in that paper, as well as those from a constant heterogeneity weight approach used to contend with convergence problems associated with multinomial logit models that incorporate unobserved heterogeneity. Due to space limitations in Rose (2011), the complete regression results appear here.

Suggested Citation

  • Morgan J. Rose, 2010. "Supplementary results for “Geographic Variation in Subprime Loan Features, Foreclosures and Prepayments”," UMBC Economics Department Working Papers 10-119, UMBC Department of Economics.
    • Handle: RePEc:umb:econwp:10119
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    File URL: http://www.umbc.edu/economics/wpapers/wp_10_119.pdf
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    More about this item

    Keywords

    foreclosure; prepayment; subprime mortgages; financial regulation; unobserved heterogeneity; clustering;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism

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