Key Determinants of Demand, Credit Underwriting, and Performance on Government-Insured Mortgage Loans in Russia

Lozinskaia Agata () and Evgeniy Ozhegov
Authors registered in the RePEc Author Service: Agatha M. Poroshina

EERC Working Paper Series from EERC Research Network, Russia and CIS

Abstract: This research analyses the process of lending from Russian state-owned mortgage provider. Two-level lending and insurance of mortgage system lead to substantially higher default rates for insured loans. This means that underwriting incentives for regional operators of government mortgage loans perform poorly. We use loan-level data of issued mortgage by one regional government mortgage provided in order to understand the interdependence between underwriting, choice of contract terms including loan insurance by borrower and loan performance. We found an evidence of a difference in credit risk measures for insured and uninsured loans and interest income.

JEL-codes: C36 D12 R20 (search for similar items in EconPapers)
Date: 2016-03-24
New Economics Papers: this item is included in nep-ban, nep-cis, nep-ias, nep-tra and nep-ure
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