It's Not Just Subprime!

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type 01 Jan 2009 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Ramon P. DeGennaro;

doi: 10.2139/ssrn.1527238

It's Not Just Subprime!

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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.

Related Organizations

The Independent Institute
United States
THE UNIVERSITY OF TENNESSEE
United States
Tennessee State University
United States
University of Tennessee at Knoxville
United States

Keywords

Subprime; Mortgages; Predatory lending; Economic recession

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