Book: Herzog. Literature review The evolution of mortgage default studies is characterized by Quercia and Stegman into three types of studies. Home equity, income variability, loss of employment, death, and divorce are found to be the most important predictors of default risk Von Furstenberg, ; Herzog and Early, ; Vandell, The second generation of default research, rooted in consumer behavior theory, models the behavior of households, who rationally decide to default, in a more structural way. Papers by Jackson and Kasserman , Campbell and Dietrich , and Foster and Van Order explicitly formulate net-equity maximization models of default.
The Authority on Bond and Loan Covenants
Writing a Literature Review
John Yinger. This chapter explores the literature on mortgage discrimination and offers recommendations for future research. This framework leads to precise definitions of discrimination and redlining.
We examine trends in racial and ethnic discrimination in U. We code and analyze as a time series results from 16 field experiments of housing discrimination and 19 observational studies of mortgage lending discrimination. Consistent with prior research, we find evidence of a decline in housing discrimination from the late s to the present.