Subprime outcomes: risky mortgages, homeownership experiences, and foreclosures

By Kristopher Gerardi, A. Shapiro, P. Willen. 2007

287 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/7ec2d108d0de9cac430fa025ffe9091b78ee3bd7

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Citations in the corpus

• The Rise in Mortgage Defaults (2008, unknown): “Many nonprime borrowers put down small or no down payments when they purchased their homes, and as a result were likely to have negative equity in their homes when house prices fell.”
• Cities Destroyed (Again) For Cash: Forum on the U.S. Foreclosure Crisis (2008, background): “…borrower and lender exuberance, poor underwriting, securitization, aggressive marketing, unscrupulous mortgage brokers, fraud, naïve borrowers, a declining housing market, tightened credit, servicer accounting errors, and a lack of regulation (Cagan, 2006; Gerardi et al., 2008; Morgenson, 2008).”
• Why Did So Many Subprime Borrowers Default During the Crisis: Loose Credit or Plummeting Prices? (2015, unknown): “19One measure of the elevated default risk inherent to subprime mortgages Gerardi et al. (2007), who find that homeownership experiences begun with a mortgage from a lender on the Department of Housing and Urban Development subprime lender list have a six times greater default hazard than ownership…”
• Housing Market Spillovers: Evidence from the End of Rent Control in Cambridge, Massachusetts (2014, unknown): “The early empirical literature on rent control focuses on its effects on the supply of rental properties (Olsen, 1972) and the incentives of landlords to invest in building quality (Frankena, 1975; Gyourko and Linneman, 1989). A second strand of this literature examines how below-market rents may en”
• Foreclosure, Vacancy and Crime (2014, unknown): “Using county-level longitudinal data, Goodstein and Lee (2010) conclude that foreclosure increases burglary and some other property crime. While this study overcomes the cross-sectional limitations of the work by Immergluck and Smith, the aggregation of their data to such a large geographic scope gr”
• Negative Equity and Foreclosure: Theory and Evidence (2008, unknown): “For further details, we direct the reader to Gerardi, Shapiro, and Willen (2007), hereafter referred to as GSW.”
• Foreclosure externalities: New evidence (2015, unknown): “17See Gerardi, Shapiro, and Willen (2007).”