Nonlocal mortgage lending and the secondary market involvement

• Main Authors: Xu, Yilan, Zhang, Jipeng
• Other Authors: School of Humanities and Social Sciences
• Format: Article
• Language: English
• Published: 2014
• Subjects: DRNTU::Humanities::Literature
• Online Access: https://hdl.handle.net/10356/106460; http://hdl.handle.net/10220/24015; http://www3.ntu.edu.sg/home/jpzhang/xz_JERL.pdf
• Institution: Nanyang Technological University

This paper documents that out-of-state nonlocal mortgages, originated by statechartered banks, are more likely to be subprime (high-priced) loans and are sold more to the secondary market than other types of mortgages, based on the data collected under the Home Mortgage Disclosure Act from 2005 to 2...