Paul S. Calem

Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Ten Independence Mall

Philadelphia, PA 19106-1574

United States

SCHOLARLY PAPERS

24

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CITATIONS
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136

Scholarly Papers (24)

1.

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 California State University at Fullerton
Downloads 937 (18,244)
Citation 41

Abstract:

Capital, mortgage, risk, regulation

The Neighborhood Distribution of Subprime Mortgage Lending

U of Penn, Inst for Law & Econ Research Paper 03-39
Number of pages: 32 Posted: 12 Dec 2003
Paul S. Calem, Kevin Gillen and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, University of Pennsylvania, Wharton and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 516 (42,863)
Citation 28

Abstract:

Subprime lending, mortgage market, low-income households, minority households, mortgage lending patterns

The Neighborhood Distribution of Subprime Mortgage Lending

Journal of Real Estate Finance and Economics, Vol. 29, No. 4
Posted: 10 Feb 2004
Paul S. Calem, Kevin Gillen and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, University of Pennsylvania, Wharton and University of Pennsylvania - Wharton School, Department of Real Estate

Abstract:

3.

Neighborhood Patterns of Subprime Lending: Evidence from Disparate Cities

U of Penn, Inst. for Law & Econ Research Paper 04-14
Number of pages: 31 Posted: 02 Sep 2004
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve System and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 434 (51,360)
Citation 14

Abstract:

Subprime mortgages, Mortgage lending and race, Mortgage lending and neighborhood

4.

Consumer Credit Scoring: Do Situational Circumstances Matter?

BIS Working Paper No. 146
Number of pages: 24 Posted: 20 Sep 2007
Robert B. Avery, Paul S. Calem and Glenn B. Canner
Board of Governors of the Federal Reserve System - Financial Studies Section, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Board of Governors of the Federal Reserve System - Division of Research and Statistics
Downloads 357 (65,252)
Citation 12

Abstract:

Credit scoring, Consumer credit, Credit risk

5.

Does Credit Quality Matter for Homeownership?

U of Penn Law & Econ Research Paper 03-40
Number of pages: 32 Posted: 14 Dec 2003
Government of the United States of America - Office of the Comptroller of the Currency (OCC), Federal Reserve Banks - Federal Reserve Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 224 (102,479)
Citation 18

Abstract:

Credit quality, homeownership, barriers to homeownership, household credit rating, financial constraints and homeownership

6.

Switching Costs and Adverse Selection in the Market for Credit Cards: New Evidence

Journal of Banking and Finance, Vol. 30, No. 6, 2006, FRB Philadelphia Working Paper No. 05-16
Number of pages: 46 Posted: 09 Sep 2005 Last Revised: 16 Feb 2011
Paul S. Calem, Michael B. Gordy and Loretta J. Mester
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 214 (111,627)
Citation 18

Abstract:

Credit cards, Consumer switching costs, Adverse selection

Anatomy of a Fair-Lending Exam: The Uses and Limitations of Statistics

FEDS Working Paper No. 2000-15, FRB of Cleveland Working Paper No. 00-03R
Number of pages: 35 Posted: 12 Jul 2000 Last Revised: 18 Nov 2007
Paul S. Calem and Stanley D. Longhofer
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Wichita State University - W. Frank Barton School of Business
Downloads 170 (146,666)
Citation 1

Abstract:

Anatomy of a Fair Lending Exam: The Uses and Limitations of Statistics

Journal of Real Estate Finance & Economics, Vol. 24, No. 3
Posted: 23 Apr 2002
Paul S. Calem and Stanley D. Longhofer
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Wichita State University - W. Frank Barton School of Business

Abstract:

mortgage discrimination, fair lending, bank regulation

8.

Subprime Mortgages and the Housing Bubble

FRB of Philadelphia Working Paper No. 11-12
Number of pages: 47 Posted: 07 Mar 2011
University of California, Irvine - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 117 (183,506)
Citation 3

Abstract:

9.

Credit Impairment and Housing Tenure Choice

U of Penn, Inst for Law & Econ Research Paper No. 08-31
Number of pages: 43 Posted: 02 Dec 2008
Paul S. Calem, Simon Firestone and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Freddie Mac - Housing Analysis and Research and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 95 (222,862)

Abstract:

real estate, housing, barriers to homeownership, underwriting standards, credit history, low-income homeownership, choice of property tenure, property forms

House-Price Expectations, Alternative Mortgage Products, and Default

FRB of Philadelphia Working Paper No. 15-01
Number of pages: 44 Posted: 23 Jan 2015
University of California, Irvine - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 32 (398,694)

Abstract:

Mortgages, Mortgage Loans

House-Price Expectations, Alternative Mortgage Products, and Default

FRB of Philadelphia Working Paper No. 13-36
Number of pages: 33 Posted: 16 Sep 2013
University of California, Irvine - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 25 (432,893)

Abstract:

Mortgages, Backloading

House-Price Expectations, Alternative Mortgage Products, and Default

FRB of Philadelphia Working Paper No. 15-1
Number of pages: 44 Posted: 18 Aug 2015
University of California, Irvine - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 24 (438,480)

Abstract:

Mortgage loans, Mortgages

11.

Credit Cycle and Adverse Selection Effects in Consumer Credit Markets - Evidence from the HELOC Market

FRB of Philadelphia Working Paper No. 11-13
Number of pages: 42 Posted: 10 Mar 2011
Paul S. Calem, Matthew Cannon and Leonard I. Nakamura
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, CoreLogic and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 71 (249,486)
Citation 1

Abstract:

Information Losses in Home Purchase Appraisals

FRB of Philadelphia Working Paper No. 15-11
Number of pages: 37 Posted: 07 Mar 2015
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 35 (386,223)

Abstract:

Information, Mortgage, Regulation, Appraisal

Information Losses in Home Purchase Appraisals

FRB of Philadelphia Working Paper No. 15-11
Number of pages: 37 Posted: 18 Aug 2015
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 21 (455,629)

Abstract:

Information, Mortgage, Regulation, Appraisal

Prudential Policies and Their Impact on Credit in the United States

FRB International Finance Discussion Paper No. 1186
Number of pages: 57 Posted: 19 Dec 2016
Paul S. Calem, Ricardo Correa and Seung Jung Lee
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 26 (427,445)

Abstract:

Bank stress tests, CCAR, Home Mortgage Disclosure Act (HMDA) data, Jumbo mortgages, Leveraged lending, Macroprudential policy, Shared National Credit (SNC) data, Interagency Guidance on Leveraged Lending, Syndicated loan market

Prudential Policies and Their Impact on Credit in the United States

BIS Working Paper No. 635
Number of pages: 58 Posted: 07 Jun 2017
Paul S. Calem, Ricardo Correa and Seung Jung Lee
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 26 (427,445)

Abstract:

bank stress tests, CCAR, Home Mortgage Disclosure Act (HMDA) data, jumbo mortgages, leveraged lending, macroprudential policy, Shared National Credit (SNC) data, Interagency Guidance on Leveraged Lending, syndicated loan market

Foreclosure Delay and Consumer Credit Performance

FRB of Philadelphia Working Paper No. 15-24/R
Number of pages: 40 Posted: 18 Jul 2015
Paul S. Calem, Julapa Jagtiani and William W. Lang
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Promontory Financial Group
Downloads 42 (359,983)

Abstract:

Mortgage Default, Foreclosure, Foreclosure Delay, Credit Card Default

Foreclosure Delay and Consumer Credit Performance

FRB of Philadelphia Working Paper No. 14-8
Posted: 20 Mar 2014 Last Revised: 24 Jul 2015
Paul S. Calem, Julapa Jagtiani and William W. Lang
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Promontory Financial Group

Abstract:

Mortgage Default, Foreclosure, Foreclosure Delay, Credit Card Default

15.

Why Mortgage Borrowers Persevere: An Explanation of First and Second Lien Performance Mismatch

Real Estate Economics, Vol. 45, Issue 1, pp. 28-74, 2017
Number of pages: 47 Posted: 20 Jan 2017
Paul S. Calem and Robert F. Sarama
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Board of Governors of the Federal Reserve System
Downloads 0 (547,062)
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Abstract:

16.

Borrowing Constraints and Homeownership Over the Recent Cycle

Number of pages: 27 Posted: 14 Mar 2016
University of Southern California - Price School of Public Policy, Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 0 (242,304)

Abstract:

borrowing constraints, homeownership, credit supply

17.

Borrowing Constraints and Homeownership

American Economic Review, Vol. 106, No. 5, pp. 625-629, 2016
Number of pages: 9 Posted: 22 Jan 2016 Last Revised: 03 Aug 2016
University of Southern California - Price School of Public Policy, Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 0 (142,155)

Abstract:

borrowing constraints, homeownership, credit supply

18.

Regulatory Capital Arbitrage and the Potential Competitive Impact of Basel II in the Market for Residential Mortgages

Journal of Real Estate Finance and Economics, Vol. 35, No. 2, 2007
Posted: 25 Mar 2007
Paul S. Calem and James R. Follain
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Home Loan Mortgage Corporation (FHLMC)

Abstract:

Basel II, mortgages, competition, capital

19.

The Impact of Capital-Based Regulation on Bank Risk-Taking

Journal of Financial Intermediation, Vol. 8, No. 4
Posted: 26 Jan 2000
Paul S. Calem and Rafael Rob
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Department of Economics

Abstract:

20.

Community Reinvestment and Credit Risk: Evidence from an Affordable Home Loan Program

Real Estate Economics, Vol. 27, No. 1, 1999
Posted: 21 Jan 1999
Paul S. Calem and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate

Abstract:

21.

Branch Banking and the Geography of Bank Pricing

FEDS Paper Number: 95-25
Posted: 25 Aug 1998
Paul S. Calem and Leonard I. Nakamura
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Abstract:

22.

The Simple Analytics of Observed Discrimination in Credit Markets

95-7
Posted: 22 Jul 1998
Paul S. Calem and Michael J. Stutzer
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Colorado at Boulder - Leeds School of Business

Abstract:

23.

Consumer Behavior and the Stickiness of Credit Card Interest Rates

94-14
Posted: 14 Jul 1998
Paul S. Calem and Loretta J. Mester
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of Cleveland

Abstract:

24.

The Impact of Capital-Based Regulation on Bank Risk-Taking: A Dynamic Model

Board of Governors of the Federal Reserve System Finance and Economics DiscussionSeries FEDS Paper Number 96-12
Posted: 19 May 1998
Paul S. Calem and Rafael Rob
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Department of Economics

Abstract: