This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
Raphael Bostic, Kathleen Engel, Patricia McCoy, Anthony Pennington-Cross, Susan Wachter
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February 1, 2008
UCC08-9: The subprime mortgage market, which consists of high-cost loans designed for borrowers with weak credit, has grown tremendously over the past ten years. Between…
BABC 04-7: Little systematic work exists to address the many and varied ways some borrowers end up with subprime mortgages and to what extent those loans serve the true…