Michael LaCour-Little

Federal National Mortgage Association (Fannie Mae)

Senior 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

31

DOWNLOADS
Rank 10,340

SSRN RANKINGS

Top 10,340

in Total Papers Downloads

5,992

SSRN CITATIONS
Rank 10,347

SSRN RANKINGS

Top 10,347

in Total Papers Citations

73

CROSSREF CITATIONS

48

Scholarly Papers (31)

1.

Subprime Lending and the Housing Bubble: Tail Wags Dog?

Number of pages: 45 Posted: 03 Sep 2008
KhasadYahu ZarBabal, Michael LaCour-Little, Michael LaCour-Little and Kerry D. Vandell
affiliation not provided to SSRN, California State University at FullertonFederal National Mortgage Association (Fannie Mae) and University of California, Irvine - Paul Merage School of Business
Downloads 1,027 (27,885)
Citation 14

Abstract:

Loading...

subprime, housing bubble

2.

Risk Based Capital Requirements for Mortgage Loans

Number of pages: 41 Posted: 09 Jan 2002
Paul S. Calem, Michael LaCour-Little and Michael LaCour-Little
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and California State University at FullertonFederal National Mortgage Association (Fannie Mae)
Downloads 1,003 (28,805)
Citation 18

Abstract:

Loading...

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, Michael LaCour-Little and Anthony B. Sanders
Pennsylvania State University, California State University at FullertonFederal National Mortgage Association (Fannie Mae) and George Mason University - School of Business
Downloads 843 (36,714)
Citation 40

Abstract:

Loading...

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, Michael LaCour-Little and Anthony B. Sanders
Pennsylvania State University, California State University at FullertonFederal National Mortgage Association (Fannie Mae) and George Mason University - School of Business
Downloads 837 (37,096)
Citation 21

Abstract:

Loading...

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 LaCour-Little, Michael A. Marschoun, Clark L. Maxam and Clark L. Maxam
California State University at FullertonFederal National Mortgage Association (Fannie Mae), affiliation not provided to SSRN and Braddock Financial Corporation - Tabor CenterTrailcrest Capital Advisors
Downloads 316 (123,046)
Citation 1

Abstract:

Loading...

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, Michael LaCour-Little, Zsuzsa R. Huszar and Zsuzsa R. Huszar
Pennsylvania State University, California State University at FullertonFederal National Mortgage Association (Fannie Mae) and Central European UniversityNational University of Singapore
Downloads 284 (137,722)
Citation 6

Abstract:

Loading...

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 and Michael LaCour-Little
California State University at FullertonFederal National Mortgage Association (Fannie Mae)
Downloads 282 (138,711)

Abstract:

Loading...

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 and Michael LaCour-Little
California State University at FullertonFederal National Mortgage Association (Fannie Mae)
Downloads 229 (170,170)
Citation 2

Abstract:

Loading...

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 and Michael LaCour-Little
California State University at FullertonFederal National Mortgage Association (Fannie Mae)

Abstract:

Loading...

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

9.

Flood Risk and the U.S. Housing Market

Number of pages: 45 Posted: 31 Jul 2019
Howard Kunreuther, Howard Kunreuther, Susan M. Wachter, Carolyn Kousky, Michael LaCour-Little and Michael LaCour-Little
National Bureau of Economic Research (NBER)University of Pennsylvania - Wharton Risk Management and Decision Processes Center, University of Pennsylvania - Wharton School, Department of Real Estate, University of Pennsylvania and California State University at FullertonFederal National Mortgage Association (Fannie Mae)
Downloads 209 (186,787)
Citation 3

Abstract:

Loading...

flood risk, housing market, insurance

10.

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, Michael LaCour-Little and Kerry D. Vandell
Indiana University, California State University at FullertonFederal National Mortgage Association (Fannie Mae) and University of California, Irvine - Paul Merage School of Business
Downloads 198 (195,484)

Abstract:

Loading...

commercial mortgage, mortgage-backed security, prepayment penalty

11.

Call Protection in Mortgage Contracts

Number of pages: 41 Posted: 15 Feb 2006
Michael LaCour-Little and Michael LaCour-Little
California State University at FullertonFederal National Mortgage Association (Fannie Mae)
Downloads 173 (220,111)
Citation 1

Abstract:

Loading...

mortgage, callable debt, prepayment, prepayment penalty

12.

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 and Michael LaCour-Little
California State University at FullertonFederal National Mortgage Association (Fannie Mae)
Downloads 140 (262,201)
Citation 1

Abstract:

Loading...

Broker, Mortgage, origination

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, Michael LaCour-Little, Charles A. Calhoun and Wei Yu
California State University at FullertonFederal National Mortgage Association (Fannie Mae), Calhoun Consulting and California State Polytechnic University, Pomona
Downloads 119 (296,227)
Citation 2

Abstract:

Loading...

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, Hamilton B. Fout, Michael LaCour-Little, Michael LaCour-Little and Nuno Mota
GW CWAS, Federal National Mortgage Association (Fannie Mae)Kansas State University, California State University at FullertonFederal National Mortgage Association (Fannie Mae) and Federal National Mortgage Association (Fannie Mae)
Downloads 110 (313,135)
Citation 1

Abstract:

Loading...

Reverse Mortgage, Seniors, Life-Cycle Consumption Smoothing

15.

AVMs versus Appraisals in Refinances: Evaluating Anchoring Bias through Relative Risk Identification

Number of pages: 50 Posted: 11 Jun 2020 Last Revised: 14 Sep 2021
George Krivorotov, Michael LaCour-Little and Michael LaCour-Little
Office of the Comptroller of the Currency and California State University at FullertonFederal National Mortgage Association (Fannie Mae)
Downloads 83 (375,065)

Abstract:

Loading...

Appraisal Bias, AVM, Refinancing, Mortgage Delinquency

16.

Adverse Selection in the Home Equity Line of Credit Market

Number of pages: 31 Posted: 19 Oct 2017
Michael LaCour-Little, Michael LaCour-Little and Yanan Zhang
California State University at FullertonFederal National Mortgage Association (Fannie Mae) and Government of the United States of America - Office of the Comptroller of the Currency (OCC)
Downloads 49 (489,676)

Abstract:

Loading...

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

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, Michael LaCour-Little and Michael LaCour-Little
California State University, Fullerton, Mihaylo College of Business & Economics, Department of Finance and California State University at FullertonFederal National Mortgage Association (Fannie Mae)
Downloads 27 (601,887)

Abstract:

Loading...

Housing Prices, Earthquakes, Auctions, Hedonic Regression

18.

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 and Michael LaCour-Little
California State University at FullertonFederal National Mortgage Association (Fannie Mae)
Downloads 25 (615,022)
Citation 2
  • Add to Cart

Abstract:

Loading...

19.

Benchmarking a New Affordable Home Mortgage

Number of pages: 32 Posted: 27 Aug 2021
Jaclene Begley, Hamilton B. Fout, Hamilton B. Fout, Michael LaCour-Little, Michael LaCour-Little and Nuno Mota
GW CWAS, Federal National Mortgage Association (Fannie Mae)Kansas State University, California State University at FullertonFederal National Mortgage Association (Fannie Mae) and Federal National Mortgage Association (Fannie Mae)
Downloads 23 (635,820)

Abstract:

Loading...

sustainable homeownership, mortgages, low-to-moderate income homebuyers

20.

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, Michael LaCour-Little, Zhenguo (Len) Lin and Wei Yu
California State University at FullertonFederal National Mortgage Association (Fannie Mae), Florida International University (FIU) - Hollo School of Real Estate and California State Polytechnic University, Pomona
Downloads 13 (701,948)

Abstract:

Loading...

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, Michael LaCour-Little and Jing Yang
California State University at FullertonFederal National Mortgage Association (Fannie Mae) and California State University, Fullerton - Department of Finance
Downloads 2 (825,076)
  • Add to Cart

Abstract:

Loading...

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, Michael LaCour-Little and Jing Yang
California State University at FullertonFederal National Mortgage Association (Fannie Mae) and California State University, Fullerton

Abstract:

Loading...

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, Michael LaCour-Little, Wei Yu and Libo Sun
California State University at FullertonFederal National Mortgage Association (Fannie Mae), California State Polytechnic University, Pomona and California State Polytechnic University, Pomona - Finance, Real Estate and Law Department
Downloads 0
  • Add to Cart

Abstract:

Loading...

The Role of Home Equity Lending in the Recent Mortgage Crisis

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

Abstract:

Loading...

mortgage, default, housing, home equity lending

23.

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

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

Abstract:

Loading...

mortgage, model risk, prepayment

24.

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, Michael LaCour-Little and Jing Yang
California State University at FullertonFederal National Mortgage Association (Fannie Mae) and California State University, Fullerton

Abstract:

Loading...

25.

Home Equity Extraction by Homeowners: 2000-2006

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

Abstract:

Loading...

Cash our refinance, equity extraction

26.

Appraisal Quality and Residential Mortgage Default: Evidence from Alaska

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

Abstract:

Loading...

appraisal, mortgage, default, house price indices

27.

Prepayment Risk in Adjustable Rate Mortgages: Some New Evidence

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

Abstract:

Loading...

28.

The Evolving Role of Technology in Mortgage Finance

OLIN Working Paper No. 99-02
Posted: 11 Jul 2000
Michael LaCour-Little and Michael LaCour-Little
California State University at FullertonFederal National Mortgage Association (Fannie Mae)

Abstract:

Loading...

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

OLIN-99-04
Posted: 22 Jun 2000
Michael LaCour-Little, Michael LaCour-Little, Clark L. Maxam and Clark L. Maxam
California State University at FullertonFederal National Mortgage Association (Fannie Mae) and Braddock Financial Corporation - Tabor CenterTrailcrest Capital Advisors

Abstract:

Loading...

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

Posted: 25 Apr 2002
Clark L. Maxam, Clark L. Maxam, Michael LaCour-Little and Michael LaCour-Little
Braddock Financial Corporation - Tabor CenterTrailcrest Capital Advisors and California State University at FullertonFederal National Mortgage Association (Fannie Mae)

Abstract:

Loading...

mortgage, prepayment, nonparametric

30.

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

Posted: 16 Apr 1999
Michael LaCour-Little, Michael LaCour-Little and Gregory H. Chun
California State University at FullertonFederal National Mortgage Association (Fannie Mae) and Kimpo College

Abstract:

Loading...

31.

Discrimination in Mortgage Lending: A Critical Review of the Literature

Journal of Real Estate Literature
Posted: 25 Nov 1998
Michael LaCour-Little and Michael LaCour-Little
California State University at FullertonFederal National Mortgage Association (Fannie Mae)

Abstract:

Loading...