Paul S. Calem

Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Ten Independence Mall

Philadelphia, PA 19106-1574

United States

SCHOLARLY PAPERS

34

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221

CROSSREF CITATIONS

30

Scholarly Papers (34)

1.

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 California State University - Fullerton - Department of Finance
Downloads 1,041 (38,866)
Citation 21

Abstract:

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Capital, mortgage, risk, regulation

The Neighborhood Distribution of Subprime Mortgage Lending

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 570 (85,525)
Citation 20

Abstract:

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

The Neighborhood Distribution of Subprime Mortgage Lending

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:

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3.

Neighborhood Patterns of Subprime Lending: Evidence from Disparate Cities

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 504 (100,821)
Citation 7

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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, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Board of Governors of the Federal Reserve System
Downloads 456 (113,651)
Citation 12

Abstract:

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Credit scoring, Consumer credit, Credit risk

5.

Does Credit Quality Matter for Homeownership?

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 Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 312 (173,580)
Citation 15

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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: 22 Nov 2019
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 System and Federal Reserve Bank of Cleveland
Downloads 295 (184,816)
Citation 24

Abstract:

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Credit cards, Consumer switching costs, Adverse selection

7.

Sustainable Homeownership

Number of pages: 29 Posted: 22 Mar 2009
Paul S. Calem, Susan M. Wachter and Marsha Courchane
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, University of Pennsylvania - Wharton School, Department of Real Estate and Charles River Associates (CRA)
Downloads 279 (195,051)
Citation 2

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Homeownership, Mortgage Lending, Subprime Lending

8.

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 Washington - College of Built Environments, 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 247 (220,309)
Citation 9

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borrowing constraints, homeownership, credit supply

9.

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 210 (257,070)
Citation 13

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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 208 (258,565)
Citation 5

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

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

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mortgage discrimination, fair lending, bank regulation

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 160 (326,973)

Abstract:

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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

International Finance Discussion Paper No. 1186
Number of pages: 57 Posted: 19 Dec 2016 Last Revised: 29 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 47 (717,111)
Citation 5

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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 101 (467,716)
Citation 1

Abstract:

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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 73 (574,681)
Citation 1

Abstract:

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Information, Mortgage, Regulation, Appraisal

13.

Borrowing Constraints and Homeownership Over the Recent Cycle

Number of pages: 27 Posted: 14 Mar 2016
University of Washington - College of Built Environments, 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 157 (332,174)
Citation 4

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borrowing constraints, homeownership, credit supply

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 56 (661,509)

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Mortgages, Mortgage Loans

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 55 (667,351)
Citation 2

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Mortgage loans, Mortgages

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 44 (737,549)
Citation 7

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Mortgages, Backloading

15.

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 151 (343,090)
Citation 3

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16.

'Cream-Skimming' in Subprime Mortgage Securitizations: Which Subprime Mortgage Loans Were Sold by Depository Institutions Prior to the Crisis of 2007?

FRB of Philadelphia Working Paper No. 10-8
Number of pages: 51 Posted: 25 Mar 2010
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 135 (374,828)
Citation 7

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17.

Implications of the Housing Market Bubble for Sustainable Homeownership

THE AMERICAN MORTGAGE SYSTEM: RETHINK AND REFORM, Susan Wachter and Marty Smith, eds., University of Pennsylvania Press, Forthcoming, U of Penn, Inst for Law & Econ Research Paper No. 10-27
Number of pages: 33 Posted: 03 Nov 2010
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 126 (395,266)

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Mortgage, High Risk Mortgage, High Risk Lending, Securitization, Risk Transfer, Housing Bubble

18.

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, Board of Governors of the Federal Reserve System and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 125 (397,675)

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

19.

Credit Cycle and Adverse Selection Effects in Consumer Credit Markets – Evidence from the Heloc Market

European Banking Center Discussion Paper No. 2011-021, CentER Working Paper Series No. 2011-086
Number of pages: 42 Posted: 11 Aug 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 119 (417,720)
Citation 2

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home equity loan, adverse selection, liquidity, consumption, housing finance

20.

Appraising Home Purchase Appraisals

FRB of Philadelphia Working Paper No. 17-23
Number of pages: 57 Posted: 07 Sep 2017
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 115 (423,035)
Citation 1

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Information, Mortgage, Regulation, Appraisal, Mortgage Default, Foreclosure

Redefault Risk in the Aftermath of the Mortgage Crisis: Why Did Modifications Improve More than Self-Cures?

FRB of Philadelphia Working Paper No. 18-2
Number of pages: 46 Posted: 25 Jan 2018 Last Revised: 29 Apr 2020
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia, New York University (NYU) - New York University and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 75 (570,085)

Abstract:

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mortgage modification, mortgage defaults, mortgage servicing

Redefault Risk in the Aftermath of the Mortgage Crisis: Why Did Modifications Improve More than Self-Cures?

FRB of Philadelphia Working Paper No. 18-26
Number of pages: 46 Posted: 27 Nov 2018 Last Revised: 29 Apr 2020
Paul S. Calem, Julapa Jagtiani and Quinn Maingi
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and New York University (NYU) - New York University
Downloads 39 (773,793)
Citation 1

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mortgage modification, mortgage defaults, mortgage servicing

22.

What Explains the Post–2011 Trends of Longer Maturities and Rising Default Rates on Auto Loans?

FRB of Philadelphia Payment Cards Center Discussion Paper No. 20-02
Number of pages: 46 Posted: 29 Apr 2020
Paul S. Calem, Chellappan Ramasamy and Jenna Wang
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, affiliation not provided to SSRN and Federal Reserve Banks - Federal Reserve Bank of Philadelphia
Downloads 102 (461,347)

Abstract:

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longer-term borrowings, census tract, observable characteristics, default risk, mortgage, unemployment, student loans, household debt, auto lenders, credit cards, longer maturities, HELOC, origination vintages, auto loans

23.
Downloads 82 (530,292)
Citation 3

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 82 (536,042)
Citation 3

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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

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Mortgage Default, Foreclosure, Foreclosure Delay, Credit Card Default

24.

Borrowing Constraints during the Housing Bubble

Number of pages: 29 Posted: 07 Mar 2013 Last Revised: 21 Dec 2013
Irina Barakova, Paul S. Calem and Susan M. Wachter
Government of the United States of America - Office of the Comptroller of the Currency (OCC), Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 82 (530,292)
Citation 7

Abstract:

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tenure choice, borrowing constraint, credit constraint, mortgage supply, homeownership, credit bubble

25.

Appraising Home Purchase Appraisals

FRB of Philadelphia Working Paper No. 18-28
Number of pages: 56 Posted: 02 Jan 2019 Last Revised: 29 Apr 2020
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 75 (558,325)
Citation 2

Abstract:

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information, mortgage, regulation, appraisal, mortgage defaults, foreclosures

26.

First-Time Homebuyers: Toward a New Measure

FRB of Philadelphia Working Paper No. 17-36
Number of pages: 17 Posted: 24 Oct 2017
University of Washington - College of Built Environments, Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 57 (643,390)
Citation 2

Abstract:

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first-time home buyers, homeownership, credit access, housing market trends

27.

Is the CRA Still Relevant to Mortgage Lending?

Number of pages: 22 Posted: 06 Sep 2019
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 28 (838,867)

Abstract:

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Mortgages, Community Reinvestment Act, CRA, FHA

28.

Bankcard Performance During the Great Recession: A Consumer-level Analysis

Journal of Credit Risk, Vol. 16, No. 4, 2020
Number of pages: 42 Posted: 19 Jan 2021
Paul S. Calem, Julapa Jagtiani and Loretta J. Mester
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Cleveland
Downloads 2 (1,075,892)
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credit card default, credit risk model, consumer credit performance, credit card balance, payment priority, Great Recession

29.

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)

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Basel II, mortgages, competition, capital

30.

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

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

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31.

Branch Banking and the Geography of Bank Pricing

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

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32.

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

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33.

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 Bank of Cleveland

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34.

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

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:

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