Michael LaCour-Little

Federal National Mortgage Association (Fannie Mae)

Director - Economics

3900 Wisconsin Avenue, NW

Washington, DC 20016-2892

United States

California State University at Fullerton

Professor of Finance - Emeritus

5133 Mihaylo Hall

Fullerton, CA 92834-6848

United States

SCHOLARLY PAPERS

29

DOWNLOADS
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CITATIONS
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103

Scholarly Papers (29)

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 1,003 (21,221)
Citation 19

Abstract:

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subprime, housing bubble

2.

Risk Based Capital Requirements for Mortgage Loans

FEDS Working Paper No. 2001-60
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 973 (22,184)
Citation 40

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 830 (27,915)
Citation 57

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 824 (28,201)
Citation 22

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 279 (107,607)
Citation 6

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 SP Jain School of Global Management
Downloads 277 (108,450)
Citation 18

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 274 (109,738)
Citation 1

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 221 (136,028)
Citation 3

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 175 (169,280)
Citation 3

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 (172,766)

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 115 (237,577)
Citation 4

Abstract:

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Broker, Mortgage, origination

12.

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 111 (243,579)
Citation 8

Abstract:

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mortgage, foreclosure, housing, piggyback lending

13.

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
Federal National Mortgage Association (Fannie Mae), Federal National Mortgage Association (Fannie Mae), Federal National Mortgage Association (Fannie Mae) and Federal National Mortgage Association (Fannie Mae)
Downloads 86 (288,425)

Abstract:

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Reverse Mortgage, Seniors, Life-Cycle Consumption Smoothing

14.

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 38 (427,059)

Abstract:

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

15.

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 (486,957)
Citation 9
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Abstract:

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16.

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 19 (520,915)

Abstract:

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Housing Prices, Earthquakes, Auctions, Hedonic Regression

17.

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 3 (620,926)

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 (660,960)
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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

19.

Flood Risk and the U.S. Housing Market

Posted: 11 Jul 2019
Michael LaCour-Little
Federal National Mortgage Association (Fannie Mae)

Abstract:

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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
Citation 2
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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

21.

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

22.

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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23.

Home Equity Extraction by Homeowners: 2000-2006

Journal of Real Estate Research, 2009
Posted: 01 Feb 2009
Michael LaCour-Little, Eric Rosenblatt and Vincent W. 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

24.

Appraisal Quality and Residential Mortgage Default: Evidence from Alaska

Journal of Real Estate Finance & Economics, Vol. 27, No. 2
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

25.

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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26.

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

The Journal of Real Estate Finance & Economics
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

28.

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

Journal of Real Estate Research, Vol. 17, No. 1/2
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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29.

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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