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The Evolution of the Subprime Mortgage Market (ICPSR 1325) RSS

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Summary:

This paper describes subprime lending in the mortgage market and how it has evolved through time. Subprime lending has introduced a substantial amount of risk-based pricing into the mortgage market by creating a myriad of prices and product choices largely determined by borrower credit history (mortgage and rental payments, foreclosures and bankruptcies, and overall credit scores) and down payment requirements. Although subprime lending still differs from prime lending in many ways, much of the growth (at least in the securitized portion of the market) has come in the least-risky (A-) segment of the market. In addition, lenders have imposed prepayment penalties to extend the duration of loans and required larger down payments to lower their credit risk exposure from high-risk loans.

Access Notes

  • These data are flagged as replication datasets and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

  • These data are freely available.

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Study Description

Citation

Chomsisengphet, Souphala, and Anthony Pennington-Cross. The Evolution of the Subprime Mortgage Market. ICPSR01325-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2006-01-31. http://doi.org/10.3886/ICPSR01325.v1

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Funding

This study was funded by:

  • Federal Reserve Bank of St. Louis

Scope of Study

Subject Terms:   loans, mortgages

Geographic Coverage:   United States

Data Collection Notes:

(1) The file submitted is the data file 0601apd.xls. (2) These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

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