Prepayment penalties on subprime mortgages

Ozgur Ergungor ()

Economic Commentary, 2007, issue Sep

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.

Keywords: Mortgage loans; Prepayment of debts (search for similar items in EconPapers)
Date: 2007
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