It's Not Just Subprime!
9 Pages Posted: 26 Dec 2009
There are 2 versions of this paper
It's Not Just Subprime!
It's Not Just Subprime!
Date Written: July 2, 2009
Abstract
Many writers have been quick to blame the high rate of foreclosures on subprime mortgages on what they call greedy, predatory lenders who exploited poor, unsophisticated and uneducated borrowers. The problem with this interpretation is that it cannot explain the behavior of foreclosure rates on prime mortgages. Examining the foreclosure rates on fixed- and adjustable- rate loans offers a better interpretation.
Keywords: Subprime, Mortgages, Predatory lending
JEL Classification: G21, L85
Suggested Citation: Suggested Citation
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