The impact of predatory loan terms on subprime foreclosures: The special case of prepayment penalties and balloon payments

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How researchers see this paper

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From the Subprime to the Exotic: Excessive Mortgage Market Risk and Foreclosures (2008, result): “A number of recent studies have measured foreclosure rates among subprime loans compared to prime loans ( Goldstein, McCullough, Parker, & Urevick-Ackelsberg, 2005 ; Immergluck & Smith, 2005 ; Quercia, Stegman, & Davis, 2005 ; Schloemer et al, 2006 ).”
Asymmetric Information, Adverse Selection, and the Pricing of CMBS (2011, unknown): “20 Similarly, in the subprimemortgagemarket, Quercia, Stegman, and Davis (2007) and Rose (2008) find evidence that prepayment penalties increase mortgage foreclosure risk.”
Cities Destroyed (Again) For Cash: Forum on the U.S. Foreclosure Crisis (2008, background): “There is some (e.g., Bunce et al., 2001; Quercia et al., 2007), and certainly much of the recent work on subprime lending can inform the discussion.10 At this point, however, the volume of work is not to the point that it seems to be having much effect on policy discussions.”