Low‐Income Homeownership and the Role of State Subsidies
A Comparative Analysis of Mortgage Outcomes
Bibliographic Data
| ID | 11684656 |
|---|---|
| Authors | Erik Hembre (0000-0002-4237-0398, St. Matthew's University, corresponding author), Stephanie Moulton (0000-0003-4102-0932, St. Matthew's University, corresponding author), Matthew Record (0000-0003-3555-5244, St. Matthew's University, corresponding author) |
| Year | 2020 |
| Volume | 40 |
| Issue | 1 |
| Pages | 78-106 |
| Publication date | 2020-08-05 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Policy Analysis and Management (JOURNAL) |
| Journal identifiers | ISSN: 0276-8739 • E-ISSN: 1520-6688 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1002/pam.22240 |
| OpenAlex | W3047558123 |
| Language | EN |
| Citations received | 4 |
| References cited | 56 |
Between the late 1970s through 2013, state Housing Finance Agencies (HFAs) financed nearly $300 billion in mortgages to low‐ and moderate‐income first‐time homebuyers. Descriptive evidence indicates that HFAs help households retain their homes at higher rates than similar households purchasing homes in the private mortgage market. Using a matched sample of HFA originations between 2005 and 2014, we estimate a multinomial logit model of mortgage default (or foreclosure) and prepayment. We find that HFA borrowers are about 30 percent less likely to default or foreclose on their mortgages than otherwise similar non‐HFA borrowers. We find that 37 percent of this HFA effect can be explained by HFA origination and service delivery practices including direct servicing and homeownership counseling
Business · Default · Demographic economics · Economics · Foreclosure · Insurance policy · Labour economics · Mortgage insurance · Mortgage underwriting · Multinomial logistic regression · Prepayment of loan · Sample (material · Secondary mortgage market · Service (business · Shared appreciation mortgage · Subsidized housing · Subsidy · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Housing, Finance, and Neoliberalism · Finance
Causal Inference for Statistics, Social, and Biomedical Sciences
Forced Sales and House Prices
The external costs of foreclosure
Fintech, regulatory arbitrage, and the rise of shadow banks
Balance diagnostics for comparing the distribution of baseline covariates between treatment groups in propensity‐score matched samples
Credit risk of low income mortgages
Unobservable Selection and Coefficient Stability
Liar's Loan? Effects of Origination Channel and Information Falsification on Mortgage Delinquency
The Influence of Homebuyer Education on Default and Foreclosure Risk
Does the public sector outperform the nonprofit and for‐profit sectors? Evidence from a national panel study on nursing home quality and access
Effects of Monitoring on Mortgage Delinquency
Does homeownership counseling affect the prepayment and default behavior of affordable mortgage borrowers
The Efficiency and Distribution of Mortgage Revenue Bond Subsidies
The contagion effect of foreclosed properties
Do foreclosures cause crime
Outsourcing Oversight
Management and Performance in US Nursing Homes
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,67 |
| Citation span | 2020 - 2025 (6) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 4 |