Note rate modifications and subprime default rates

Camilo Sarmiento

Applied Economics Letters, 2009, vol. 16, issue 6, 563-566

Abstract: An important instrument to mitigate credit losses is modification of note rates of distressed borrowers. From a logistic model of early default, this article inferred the note rate impact on loan default probabilities, while controlling for loan characteristics (credit quality) and borrower location.

Date: 2009
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DOI: 10.1080/17446540802260878

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