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

Morgan Rose

No 10-119, UMBC Economics Department Working Papers from UMBC Department of Economics

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.

Keywords: foreclosure; prepayment; subprime mortgages; financial regulation; unobserved heterogeneity; clustering (search for similar items in EconPapers)
JEL-codes: C52 G21 G28 H77 (search for similar items in EconPapers)
Pages: 149 pages
Date: 2010-05-01
New Economics Papers: this item is included in nep-ban and nep-ure
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