TRIM - subtopic: HOME PURCHASE LOANS

MOST PERTINENT

3.1. PURCHASE PRICE

"Early default" is defined as either delinquency (missed payments for more than 60 days or foreclosure within the first year after origination.

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The identification of the relevant "costs" of a particular product is not always a simple matter.

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3.2. PURCHASE HOUSES

Despite the fall in interest rates and the measures to support the banking industry, credit growth to the private sector is decelerating, especially loans to businesses and for home purchase.

Marginal waterfront buyers have higher desirability valuation and WTP for access to navigable water than other waterfront buyers.

Curbing CDS purchases by investors with no other economic exposure to the company seems akin to the creation of baseball's infield-fly rule more than 100 years ago.

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LOAN ORIGINATION

When default rates are small, refinancing rates are high.

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For 2003 and 2004 vintage loans, only postorigination house price appreciation (fast and positive contributed to low default rates; defaults were substituted by prepayment and refinancing options exercised by borrowers, as discussed below in greater detail.

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The paper is organized as follows.

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3.3. MORTGAGE INTEREST, SUBPRIME MORTGAGES

The authority to draft regulations under national mortgage laws would remain with the Fed. But states would be given "clear authority to enforce federal mortgage laws," according to the Treasury plan.

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About half of seriously delinquent borrowers have a second mortgage, according to Credit Suisse Group.

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Family emergencies can put the brakes on financial capabilities, which is why AAFCU has helped many families in debt.

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A veteran in that situation needs less than an 8 percent down payment on the total loan amount.

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Uniform, off-the-shelf houses traditionally helped builders keep a lid on costs.

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The dimensions, detailed in Table 2, describe the possible trade-offs households can make in response to the CBCA price effects.

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The possibility of widespread effects beyond the critical area or on the development of rural counties is unlikely.

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The actual Echo Boom was a five-year span between 1989 and 1993, when for the first time since 1964 the number of births in the U.S.

The smaller the down payment at origination, the less likely a borrower is to prepay or refinance a loan within two years of origination.

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Termination: A dummy variable that equals 1 if a borrower has either defaulted or prepaid the mortgage loan within two years of origination; the variable takes a value of 0 otherwise.

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Given that the percentages of terminated loans in the sample are almost the same for all loan vintages (origination years, one can infer that subprime loans rarely were expected or intended to last much longer than three years.

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Pennington-Cross and Chomsisengphet studied a sample of subprime securitized loans first-lien, fixed-rate, homeowner-occupied - that originated between 1996 and 2003.

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Borrowers must have been planning to use subprime mortgages for so-called bridge financing.

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When to evaluate loan performance (within two years of origination was a choice driven mainly by two factors: the FICO credit score and the popularity of hybrid mortgages in the sample.

Jason Butler at Bloomsbury Financial Planning says that although some families may feel uncomfortable turning an offer of help into a formal agreement, it could save trouble later.

Builders filled developments with a handful of cookie-cutter designs that could be mass-produced economically.

Dresdner Kleinwort Wasserstein went further in highlighting Japan's NTT DoCoMo as a potential buyer for the entire company.

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When it comes to what matters the most to home buyers, builders may be surprised at what ranks at the top. According to the Guide Model, exterior home features ranked first among categories that separated buyers (see figure 1 above).

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"Buyers have a lot of time to browse the Internet and price products, which can present a definite challenge," says Sorcic.

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A purchased product's total cost is made up of initial price, various direct and indirect costs associated with product quality, and a similar array of costs associated with the service required to support acquisition and use of the product.

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Purchasers of residences on the waterfront or with assured access to the water are more likely to own boats and use the bay for leisure activities than other households.

Approximately 35% of the loans by aggregate balance are covered by FHA insurance, 22% are covered by VA guarantees, 11% carry private mortgage insurance, 7% are Farmers Home Administration (formerly called RD) guaranteed, and 25% have LTV's equal to or less than 80%, and are therefore not required to have insurance or guarantees.

Almost a week after it joined the Fed in a bid to ease banks' access to funds, the European Central Bank announced that starting today it would offer unlimited emergency funds "at below market interest rates in a special operation to head off a year-end liquidity crisis," as the Financial Times reports.

When housing values started declining, between 2005 and 2007, defaults followed.

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Product type: Major types in the subprime mortgage market include FRMs, hybrid mortgages, ARMs, and balloons.

David Hollingworth, mortgage specialist at London & Country, who attended the research presentation, has reservations about the idea.

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"The Federal Reserve will continue to buy mortgage-backed securities to hold rates down, but if Treasuries keep selling off, I don't think the Fed buying will be enough to keep rates low," said Mahesh Swaminathan, mortgage analyst at Credit Suisse.

Robert Le Blanc, Barclays' risk director, made a rare appearance at a results presentation to explain the figures.

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Private-label securities, backed primarily by subprime loans, made up 57 percent of total MBS dollar volume just two years ago, reports Ginnie Mae.

At John Laing Homes' new Roubion development in Los Altos Hills, Calif., where home prices start at about 2 million, glass-enclosed cellars are a standard option.

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If you are not careful, there is a danger that all of the homes on the block can begin to look alike." This is where working with the right architect becomes absolutely critical, he says.

A multiplex retailer could easily duplicate a pricing strategy but service related strategies are more hidden and thus harder to identify and replicate.

Most theoretical studies discuss spillover effects in the context of a city-suburb-rural spatial continuum, focusing on whether land use controls induce greater decentralization or more concentration (Sheppard 198; Thrall 1987; White 1975).

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Consequently the price of vacant land in the regulated area will drop, and fewer plots will be developed.

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Empirical evidence from various locations have tracked incidences of growth controls causing price premiums (Katz and Rosen 1987), the spillover of development (Dowall 1984; Schwartz et al.

The subprime mortgage crisis of 2007 resulted in a massive wave of foreclosures and serious delinquencies, a large proportion of which consisted of mortgages originated in 2006 and 2007.

Qwest's CEO said the company plans to deploy fiber-optic connections to select areas within 20 markets, but unlike rivals has no plans for an Internet TV service.

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Belvoir Federal Credit Union, Woodbridge, Va., identifies members in financial need through loan denials, imminent foreclosures, educational seminars, and front-line staff, says Kelli Anthon, financial counselor for the 236 million asset credit union.

Twiggy stars and woodland creatures made of bark and painted feathers are among the more organic designs available, while Nordic-style pieces in bright red-and-white painted wood or felt are similarly craft-inspired.

Two regression equations are necessary, one for warehouse home centers and a second for office supply superstores.

The post has been vacant, but previously was held by Lewis Kaden, who is now a vice chairman at Citigroup.

Monday, National Oilwell Varco said it agreed to buy oil-equipment company Grant Prideco in a cash-and-stock deal worth about 7.5 billion.

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Volume was a solid 3bn shares.

The two questionnaires were mailed to 3,410 businesses as described earlier.

Members meet with Anthon for three months.

P relative perceived performance (difference score) of wholesaler versus multiplex retailer on low price provision.

Generation X women are 70 percent more likely than early boomer women to have a college degree, Chung says.

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In the data, the debt-to-income value was not reported for approximately 30 percent of loans.

Data shows if a builder scored above 8.70 on the project superintendent, but fell short on the warranty target of 8.18, (but not less than 6.49) the buyer would still maintain a high recommendation level of 8.08.

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The credit union took the family's 34,000 in credit card debt to a service provider that negotiates better terms with creditors, collects payments from the debtor, and disburses funds to the creditors on the debtor's behalf.