The Determinants of Default on Insured Conventional Residential Mortgage Loans

  • Author(s): TIM S. CAMPBELL, J. KIMBALL DIETRICH
  • Published: Apr 30, 2012
  • Pages: 1569-1581
  • DOI: 10.1111/j.1540-6261.1983.tb03841.x

ABSTRACT

This paper presents empirical evidence on the determinants of default for insured residential mortgages. A multinomial logit model is specified and estimated for regional aggregates constructed from cross sectional and time series data. The results document the independent statistical significance of contemporaneous payment/income and loan/ value ratios and unemployment rates as well as more commonly studied determinants of default such as age and the original loan/value ratio.

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