Michael LaCour-Little

Federal National Mortgage Association (Fannie Mae)

Director - Economics

1100 15th St NW

Washington, DC 20005

United States

California State University at Fullerton

Professor of Finance - Emeritus

5133 Mihaylo Hall

Fullerton, CA 92834-6848

United States

SCHOLARLY PAPERS

30

DOWNLOADS
Rank 9,070

SSRN RANKINGS

Top 9,070

in Total Papers Downloads

5,664

SSRN CITATIONS
Rank 10,164

SSRN RANKINGS

Top 10,164

in Total Papers Citations

66

CROSSREF CITATIONS

48

Scholarly Papers (30)

1.

Subprime Lending and the Housing Bubble: Tail Wags Dog?

Number of pages: 45 Posted: 03 Sep 2008
KhasadYahu ZarBabal, Michael LaCour-Little and Kerry D. Vandell
affiliation not provided to SSRN, Federal National Mortgage Association (Fannie Mae) and University of California, Irvine - Paul Merage School of Business
Downloads 1,013 (24,215)
Citation 14

Abstract:

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subprime, housing bubble

2.

Risk Based Capital Requirements for Mortgage Loans

Number of pages: 41 Posted: 09 Jan 2002
Paul S. Calem and Michael LaCour-Little
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal National Mortgage Association (Fannie Mae)
Downloads 981 (25,354)
Citation 18

Abstract:

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Capital, mortgage, risk, regulation

3.

Does Regulatory Capital Arbitrage or Asymmetric Information Drive Securitization?

Number of pages: 30 Posted: 22 Jun 2004
Brent W. Ambrose, Michael LaCour-Little and Anthony B. Sanders
Pennsylvania State University, Federal National Mortgage Association (Fannie Mae) and George Mason University - School of Business
Downloads 838 (31,747)
Citation 37

Abstract:

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Banks, debt, securitization, regulatory capital

4.

The Effect of Conforming Loan Status on Mortgage Yield Spreads: A Loan Level Analysis

Dice Center Working Paper No. 2001-1
Number of pages: 37 Posted: 01 Feb 2002
Brent W. Ambrose, Michael LaCour-Little and Anthony B. Sanders
Pennsylvania State University, Federal National Mortgage Association (Fannie Mae) and George Mason University - School of Business
Downloads 831 (32,101)
Citation 17

Abstract:

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Mortgage yield spreads, securitization, government-sponsored enterprise

5.

Improving Parametric Mortgage Prepayment Models with Non-Parametric Kernel Regression

Journal of Real Estate Research, Vol. 24, No. 3, 2002
Number of pages: 30 Posted: 16 May 2007
Michael LaCour-Little, Michael A. Marschoun and Clark L. Maxam
Federal National Mortgage Association (Fannie Mae), affiliation not provided to SSRN and Trailcrest Capital Advisors
Downloads 288 (118,825)
Citation 1

Abstract:

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prepayment, valuation, mortgages, non-parametric

6.

A Note on Hybrid Mortgages

Number of pages: 26 Posted: 17 Sep 2004
Brent W. Ambrose, Michael LaCour-Little and Zsuzsa R. Huszar
Pennsylvania State University, Federal National Mortgage Association (Fannie Mae) and National University of Singapore
Downloads 279 (122,383)
Citation 6

Abstract:

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adjustable rate mortgage, prepayment, default

7.

The Home Mortgage Preferences of Low-and-Moderate Income Households

Real Estate Economics, Forthcoming
Number of pages: 39 Posted: 11 Jan 2007
Michael LaCour-Little
Federal National Mortgage Association (Fannie Mae)
Downloads 277 (123,287)

Abstract:

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housing finance, mortgage choice, low-and-moderate income

Economic Factors Affecting Home Mortgage Disclosure Act Reporting

Number of pages: 52 Posted: 13 Jun 2007
Michael LaCour-Little
Federal National Mortgage Association (Fannie Mae)
Downloads 226 (150,871)
Citation 2

Abstract:

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HMDA, mortgage, subprime

Economic Factors Affecting Home Mortgage Disclosure Act Reporting

Journal of Real Estate Research, Vol. 29, No. 4, 2007
Posted: 15 Nov 2007
Michael LaCour-Little
Federal National Mortgage Association (Fannie Mae)

Abstract:

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Home Mortgage Disclosure Act, HMDA, home loan, credit risk, yield curve

9.

Commercial Mortgage Prepayments Under Heterogeneous Prepayment Penalty Structures

Journal of Real Estate Research Vol. 25, No. 3, 2003
Number of pages: 32 Posted: 05 Jan 2007
Qiang Fu, Michael LaCour-Little and Kerry D. Vandell
Indiana University, Federal National Mortgage Association (Fannie Mae) and University of California, Irvine - Paul Merage School of Business
Downloads 182 (184,796)

Abstract:

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commercial mortgage, mortgage-backed security, prepayment penalty

10.

Call Protection in Mortgage Contracts

Number of pages: 41 Posted: 15 Feb 2006
Michael LaCour-Little
Federal National Mortgage Association (Fannie Mae)
Downloads 171 (195,083)
Citation 1

Abstract:

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mortgage, callable debt, prepayment, prepayment penalty

11.

The Pricing of Mortgages by Brokers: An Agency Problem?

Journal of Real Estate Research, Vol. 31, No. 2, 2009
Number of pages: 30 Posted: 15 Oct 2009
Michael LaCour-Little
Federal National Mortgage Association (Fannie Mae)
Downloads 127 (248,647)
Citation 1

Abstract:

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Broker, Mortgage, origination

12.

Flood Risk and the U.S. Housing Market

Number of pages: 45 Posted: 31 Jul 2019
Howard Kunreuther, Susan M. Wachter, Carolyn Kousky and Michael LaCour-Little
University of Pennsylvania - Wharton Risk Management and Decision Processes Center, University of Pennsylvania - Wharton School, Department of Real Estate, University of Pennsylvania and Federal National Mortgage Association (Fannie Mae)
Downloads 124 (253,230)
Citation 1

Abstract:

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flood risk, housing market, insurance

13.

What Role Did Piggyback Lending Play in the Housing Bubble and Mortgage Collapse?

Number of pages: 55 Posted: 07 Oct 2010
Michael LaCour-Little, Charles A. Calhoun and Wei Yu
Federal National Mortgage Association (Fannie Mae), Calhoun Consulting and California State Polytechnic University, Pomona
Downloads 114 (269,250)
Citation 2

Abstract:

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mortgage, foreclosure, housing, piggyback lending

14.

Home Equity Conversion Mortgages: The Secondary Market Investor Experience

Number of pages: 41 Posted: 20 Oct 2017
Jaclene Begley, Hamilton B. Fout, Michael LaCour-Little and Nuno Mota
GW CWAS, Federal National Mortgage Association (Fannie Mae), Federal National Mortgage Association (Fannie Mae) and Federal National Mortgage Association (Fannie Mae)
Downloads 96 (302,704)

Abstract:

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Reverse Mortgage, Seniors, Life-Cycle Consumption Smoothing

15.

Adverse Selection in the Home Equity Line of Credit Market

Number of pages: 31 Posted: 19 Oct 2017
Michael LaCour-Little and Yanan Zhang
Federal National Mortgage Association (Fannie Mae) and Government of the United States of America - Office of the Comptroller of the Currency (OCC)
Downloads 44 (453,736)

Abstract:

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Mortgage Default and Prepayment, Home Equity Lines of Credit, Securitization

16.

The Home Purchase Mortgage Preferences of Low- and Moderate-Income Households

Real Estate Economics, Vol. 35, No. 3, pp. 265-290, Fall 2007
Number of pages: 26 Posted: 24 Aug 2007
Michael LaCour-Little
Federal National Mortgage Association (Fannie Mae)
Downloads 25 (546,609)
Citation 1
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Abstract:

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17.

Earthquakes and Price Discovery in the Housing Market: Evidence from New Zealand

INTERNATIONAL REAL ESTATE REVIEW, Volume: 19, Issue Number: 4, 2016
Number of pages: 21 Posted: 25 Oct 2017 Last Revised: 26 Oct 2017
Arsenio Staer and Michael LaCour-Little
California State University, Fullerton, Mihaylo College of Business & Economics, Department of Finance and Federal National Mortgage Association (Fannie Mae)
Downloads 20 (578,351)

Abstract:

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Housing Prices, Earthquakes, Auctions, Hedonic Regression

18.

AVM versus Appraisal-Based Underwriting in Refinance Mortgages: The Trade-off Between Noise and Bias

Number of pages: 46 Posted: 11 Jun 2020
George Krivorotov and Michael LaCour-Little
Office of the Comptroller of the Currency and Federal National Mortgage Association (Fannie Mae)
Downloads 18 (591,521)

Abstract:

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Appraisal Bias, AVM, Refinancing, Mortgage Delinquency

19.

Assumable Financing Redux: A New Challenge for Appraisal?

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 43 Posted: 12 Jul 2019
Michael LaCour-Little, Zhenguo (Len) Lin and Wei Yu
Federal National Mortgage Association (Fannie Mae), Florida International University (FIU) - Hollo School of Real Estate and California State Polytechnic University, Pomona
Downloads 8 (661,189)

Abstract:

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Pay Me Now or Pay Me Later: Alternative Mortgage Products and the Mortgage Crisis

Real Estate Economics, Vol. 38, No. 4, pp. 687-732, 2010
Number of pages: 46 Posted: 03 Jan 2011
Michael LaCour-Little and Jing Yang
Federal National Mortgage Association (Fannie Mae) and California State University, Fullerton - Department of Finance
Downloads 2 (741,801)
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Pay Me Now or Pay Me Later: Alternative Mortgage Products and the Mortgage Crisis

Real Estate Economics, Forthcoming
Posted: 23 Aug 2010
Michael LaCour-Little and Jing Yang
Federal National Mortgage Association (Fannie Mae) and California State University, Fullerton

Abstract:

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mortgage, housing, residential mortgage finance

The Role of Home Equity Lending in the Recent Mortgage Crisis

Real Estate Economics, Vol. 42, Issue 1, pp. 153-189, 2014
Number of pages: 37 Posted: 18 Feb 2014
Michael LaCour-Little, Wei Yu and Libo Sun
Federal National Mortgage Association (Fannie Mae), California State Polytechnic University, Pomona and California State Polytechnic University, Pomona - Finance, Real Estate and Law Department
Downloads 0
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The Role of Home Equity Lending in the Recent Mortgage Crisis

Real Estate Economics, Forthcoming
Posted: 08 Aug 2012
Michael LaCour-Little, Wei Yu and Libo Sun
Federal National Mortgage Association (Fannie Mae), California State Polytechnic University, Pomona and California State Polytechnic University, Pomona - Finance, Real Estate and Law Department

Abstract:

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mortgage, default, housing, home equity lending

22.

Parameter Stability and the Valuation of Mortgages and Mortgage-Backed Securities

Real Estate Economics, March 2012
Posted: 19 Apr 2011
Michael LaCour-Little, Yun W. Park and Richard K. Green
Federal National Mortgage Association (Fannie Mae), Korea Securities Research Institute (KSRI) and University of Southern California - Lusk Center for Real Estate

Abstract:

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mortgage, model risk, prepayment

23.

Taking the Lie Out of Liar Loans: The Effect of Reduced Documentation on the Performance and Pricing of Alt-A and Subprime Mortgages

46th Annual AREUEA Conference Paper
Posted: 01 Dec 2010
Michael LaCour-Little and Jing Yang
Federal National Mortgage Association (Fannie Mae) and California State University, Fullerton

Abstract:

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24.

Home Equity Extraction by Homeowners: 2000-2006

Journal of Real Estate Research, 2009
Posted: 01 Feb 2009
Michael LaCour-Little, Eric Rosenblatt and Vincent Yao
Federal National Mortgage Association (Fannie Mae), Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business

Abstract:

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Cash our refinance, equity extraction

25.

Appraisal Quality and Residential Mortgage Default: Evidence from Alaska

Posted: 05 Jun 2003
Michael LaCour-Little and Stephen Malpezzi
Federal National Mortgage Association (Fannie Mae) and University of Wisconsin at Madison

Abstract:

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appraisal, mortgage, default, house price indices

26.

Prepayment Risk in Adjustable Rate Mortgages: Some New Evidence

OLIN Working Paper No. 99-03
Posted: 11 Jul 2000
Michael LaCour-Little and Brent W. Ambrose
Federal National Mortgage Association (Fannie Mae) and Pennsylvania State University

Abstract:

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27.

The Evolving Role of Technology in Mortgage Finance

OLIN Working Paper No. 99-02
Posted: 11 Jul 2000
Michael LaCour-Little
Federal National Mortgage Association (Fannie Mae)

Abstract:

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Applied Non-Parametric Regression Techniques: Estimating Prepayments on Fixed Rate Mortgage-Backed Securities

OLIN-99-04
Posted: 22 Jun 2000
Michael LaCour-Little and Clark L. Maxam
Federal National Mortgage Association (Fannie Mae) and Trailcrest Capital Advisors

Abstract:

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Applied Non-Parametric Regression Techniques: Estimating Prepayments on Fixed Rate Mortgage-Backed Securities

Posted: 25 Apr 2002
Clark L. Maxam and Michael LaCour-Little
Trailcrest Capital Advisors and Federal National Mortgage Association (Fannie Mae)

Abstract:

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mortgage, prepayment, nonparametric

29.

Third Party Originators and Mortgage Prepayment Risk: An Agency Problem?

Posted: 16 Apr 1999
Michael LaCour-Little and Gregory H. Chun
Federal National Mortgage Association (Fannie Mae) and Kimpo College

Abstract:

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30.

Discrimination in Mortgage Lending: A Critical Review of the Literature

Journal of Real Estate Literature
Posted: 25 Nov 1998
Michael LaCour-Little
Federal National Mortgage Association (Fannie Mae)

Abstract:

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