Loan Performance and Negative Home Equity in the Non-Prime Mortgage Market
Author:
William B. ShearPublisher:
DIANE Publishing CompanyPublication Date:
10-01-2010ISBN:
9781437927702Pages:
64Subjects:
BusinessAvailable as:
Paperback, 9781437927702Description:
The number of nonprime mortgage originations grew rapidly from 2000 through 2006, a period during which average house prices appreciated dramatically. The nonprime share of mortgage originations rose from 12% in 2000 to 34% in 2006. As house prices subsequently fell, the subprime and Alt-A market segments contracted sharply. Borrowers who had obtained nonprime mortgages earlier in the decade increasingly fell behind on their mortgage payments. This report: (1) provides info. on the performance of these nonprime loans as of 6/30/09, and describes forecasts made by others of future loan performance; and (2) examines the extent of negative home equity among nonprime borrowers in selected metro. areas and nationwide.
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