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Anti-Predatory Lending Legislation - A Multi-State Study of Impacts. (Paperback) Loot Price: R1,918
Discovery Miles 19 180
Anti-Predatory Lending Legislation - A Multi-State Study of Impacts. (Paperback): Tonya Diane Zimmerman

Anti-Predatory Lending Legislation - A Multi-State Study of Impacts. (Paperback)

Tonya Diane Zimmerman

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Loot Price R1,918 Discovery Miles 19 180 | Repayment Terms: R175 pm x 12*

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The growing foreclosure crisis has brought to light the problems of subprime and predatory lending. These problems include the potential for lost equity, foreclosure of homes, and the targeting of vulnerable populations. Beginning in 1999, states began passing legislation designed to limit predatory lending. However, much is still unknown about the impacts of these laws. In this study I expand the growing literature on the impacts of state anti-predatory lending laws by addressing the impacts in unique ways. I examined the impact on populations typically targeted for predatory loans that have not been part of previous studies. Another unique aspect of my study was my focus on whether the impacts of state anti-predatory lending laws change over time in an attempt to understand whether lenders learn to compensate for these laws. I used data collected under the Home Mortgage Disclosure Act (HMDA) from 1997 to 2002 to examine the impacts of state anti-predatory lending legislation. I examined these impacts through descriptive statistics and logistic regressions. I found that state anti-predatory lending laws have little meaningful impact on the likelihood of receiving a subprime loan. Despite the limited overall impact, I found a substantial impact when examining refinance and home purchase loans separately. As a result, I concluded that state anti-predatory lending laws may reduce those loans most likely to be predatory. Some populations, particularly minority borrowers, had the impact I expected of a reduced likelihood of receiving subprime loans. This was also evident among subprime refinance loans relative to home purchase loans. This may indicate a potential reduction in the targeting of predatory loans to vulnerable borrower populations. However, to the extent that this reduction occurs, it appears to be limited to only a few groups. I also found few results that imply lenders learn to compensate for these laws over time. Finally, I discovered that the impacts of state anti-predatory lending legislation are sensitive to the definition of subprime loans and model specification.

General

Imprint: Proquest, Umi Dissertation Publishing
Country of origin: United States
Release date: September 2011
First published: September 2011
Authors: Tonya Diane Zimmerman
Dimensions: 254 x 203 x 27mm (L x W x T)
Format: Paperback - Trade
Pages: 404
ISBN-13: 978-1-243-56862-5
Categories: Books > Humanities > Philosophy > Topics in philosophy > Social & political philosophy
Books > Philosophy > Topics in philosophy > Social & political philosophy
LSN: 1-243-56862-3
Barcode: 9781243568625

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