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The effect of prepayment penalties on the pricing of subprime mortgages

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  • Elliehausen, Gregory
  • Staten, Michael E.
  • Steinbuks, Jevgenijs

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  • Elliehausen, Gregory & Staten, Michael E. & Steinbuks, Jevgenijs, 2008. "The effect of prepayment penalties on the pricing of subprime mortgages," Journal of Economics and Business, Elsevier, vol. 60(1-2), pages 33-46.
  • Handle: RePEc:eee:jebusi:v:60:y:2008:i:1-2:p:33-46
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    References listed on IDEAS

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    1. Michael LaCour-Little & Gregory H. Chun, 1999. "Third Party Originators and Mortgage Prepayment Risk: An Agency Problem?," Journal of Real Estate Research, American Real Estate Society, vol. 17(1), pages 55-70.
    2. Newey, Whitney K., 1987. "Efficient estimation of limited dependent variable models with endogenous explanatory variables," Journal of Econometrics, Elsevier, vol. 36(3), pages 231-250, November.
    3. Hausman, Jerry, 2015. "Specification tests in econometrics," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 38(2), pages 112-134.
    4. Michael LaCour-Little, 2001. "A Note on Identification of Discrimination in Mortgage Lending," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 29(2), pages 329-335.
    5. Amemiya, Takeshi, 1978. "The Estimation of a Simultaneous Equation Generalized Probit Model," Econometrica, Econometric Society, vol. 46(5), pages 1193-1205, September.
    6. Anthony M.J. Yezer & Robert F. Phillips & Robert P. Trost, 1994. "Bias in estimates of discrimination and default in mortgage lending: the effects of simultaneity and self-selection," Proceedings, Federal Reserve Bank of Philadelphia, pages 197-222.
    7. Giang Ho & Anthony Pennington-Cross, 2005. "The impact of local predatory lending laws," Working Papers 2005-049, Federal Reserve Bank of St. Louis.
    8. Rose, Morgan J., 2008. "Predatory lending practices and subprime foreclosures: Distinguishing impacts by loan category," Journal of Economics and Business, Elsevier, vol. 60(1-2), pages 13-32.
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    Cited by:

    1. Steinbuks, Jevgenijs, 2015. "Effects of prepayment regulations on termination of subprime mortgages," Journal of Banking & Finance, Elsevier, vol. 59(C), pages 445-456.
    2. Allen C. Goodman & Brent C. Smith, 2010. "Housing default: theory works and so does policy," Working Paper 10-10, Federal Reserve Bank of Richmond.
    3. Chih-Hsing Hung & Ming-Chi Chen & Shyh-Weir Tzang, 2012. "Modeling Mortgages with Prepayment Penalties," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 48(S3), pages 157-174, September.
    4. Jevgenijs Steinbuks & Gregory Elliehausen, 2014. "The Economic Effects of Legal Restrictions on High-Cost Mortgages," The Journal of Real Estate Finance and Economics, Springer, vol. 49(1), pages 47-72, July.
    5. Chih-Hsing Hung & Ming-Chi Chen & Shyh-Weir Tzang, 2012. "Modeling Mortgages with Prepayment Penalties," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 48(S3), pages 157-174, September.
    6. Morgan J. Rose, 2011. "Prepayment Penalties: Efficieny and Predation," UMBC Economics Department Working Papers 11-133, UMBC Department of Economics.
    7. Rose, Morgan J., 2008. "Predatory lending practices and subprime foreclosures: Distinguishing impacts by loan category," Journal of Economics and Business, Elsevier, vol. 60(1-2), pages 13-32.
    8. Goodman, Allen C. & Smith, Brent C., 2010. "Residential mortgage default: Theory works and so does policy," Journal of Housing Economics, Elsevier, vol. 19(4), pages 280-294, December.

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