Journal of Finance Vol. 38 No. 5 1983
The Determinants of Default on Insured Conventional Residential Mortgage Loans
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.
- DOI
- 10.1111/j.1540-6261.1983.tb03841.x
- Volume
- 38
- Issue
- 5
- Pages
- 1569-1581
- Language
- en
- Sources
- openalex crossref