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Filene report examines mortgage risks and rates
MADISON, Wis. (4/21/09)--Credit unions concerned with mortgage risks and questionable interest rates that are circulating among lenders and borrowers can consult the Filene Research Institute’s latest report. Mortgage Borrower Risk Profiles, Delinquencies and Interest Rates in 2005-2008 reviews demographic information across a surveyed group from the three previous years and provides some findings for credit unions to implement in future operations (LoneStar leaguer April 20). The report is the third in a series of Consumer Finance Research briefs derived from research and discussions from Ohio State University’s Consumer Finance Monthly. The report examined and interpreted findings based on questions, including:
* What might a simplified mortgage pricing model look like? * How do delinquency rates vary across borrowers’ financial characteristics? * How do delinquency rates vary across demographic groups? * Did mortgage pricing based on rising house prices contribute to delinquencies? and * How can both underpriced and overpriced mortgage loans be avoided?
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