| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
A COMPARISON OF OPTION-THEORETIC AND CHOICE-THEORETIC APPROACHES TO EVALUATING ALTERNATIVE FINANCIAL TECHNOLOGIES FOR MORTGAGE LOANS TO LOW-INCOME HOUSEHOLDS
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| Autores: |
Hartarska, Valentina M.
Gonzalez-Vega, Claudio
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| Data: |
2002-05-15
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| Ano: |
2002
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| Palavras-chave: |
Credit counseling
Competing risks
Low-income mortgage loans.
Financial Economics
Q140 (Agricultural Finance)
Q140
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| Resumo: |
This paper evaluates the efficacy of two alternative lending technologies - the traditional banking technology and a cash flow based counseling program - by using competing risks (option-based) and choice theoretic approaches. We find evidence to support the notion that low-income borrowers have some degree of financial sophistication, as they prepay the mortgage loan by considering the current value of the call option. The evidence also suggests that borrower heterogeneity and insolvency affect mortgage termination.
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| Tipo: |
Conference Paper or Presentation
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| Idioma: |
Inglês
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| Identificador: |
4512
http://purl.umn.edu/19645
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| Editor: |
AgEcon Search
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| Relação: |
American Agricultural Economics Association>2002 Annual meeting, July 28-31, Long Beach, CA
Selected Paper
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| Formato: |
23
application/pdf
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