Journal articles on the topic 'New Zealand Mortgage Loans'
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1
Thorns, D. C. "New Solutions to Old Problems: Housing Affordability and Access within Australia and New Zealand." Environment and Planning A: Economy and Space 20, no. 1 (January 1988): 71–82. http://dx.doi.org/10.1068/a200071.
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During the 1970s and 1980s the Australian and New Zealand economies have been passing through a period of restructuring. This has had important impacts upon the housing sector, leading to rises in house and land prices, in interest rates, and therefore in the costs of house purchase. Under these conditions a new agenda of housing issues has appeared concerning the affordability of housing and the continued access of modest and lower income households to the dominant form of tenure, owner-occupation. The 1980s saw the election of Labour governments committed to action in the area of housing. However, somewhat paradoxically, both in Australia and in New Zealand the policies pursued have been those of deregulation to produce a more competitive financial market. To preserve access to housing, new mortgage schemes have been designed. Two such schemes, the Capital Loan Scheme of Victoria and New Zealand's Equity Share Scheme are evaluated in the paper to show the nature of the adopted policy-response. The article is concluded with the demonstration of the limitations of such policy-based solutions to what are macroeconomic problems which are produced by moving towards an economic and social policy shaped by market monetarism.
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Richardson, Megan. "Protecting women who provide security for a husband's, partner's or child's debts. the value and limits of an economic perspective." Legal Studies 16, no. 3 (November 1996): 368–86. http://dx.doi.org/10.1111/j.1748-121x.1996.tb00535.x.
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In recent cases English, Australian, and New Zealand courts have been called on to deal with apparently similar fact situations of a woman entering into a mortgage, guarantee or joint loan contract with respect to a husband’s, partner’s or child's business debts, placing her home at risk. Yet the results and reasoning in the cases appear to be markedly different. The question is whether the apparent differences can be resolved to yield a coherent policy approach. It will be argued, drawing on an economic-feminist perspective that the cases can be resolved in terms of the courts’ preparedness to acknowledge only limited categories of behaviour and circumstances, when measured against the paradigm of the ‘rational economic man’, as displacing the assumption that contracting increases welfare.
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Agbogun, Oghenekparobo Ernest (MSc Candidacy), Ehiedu, Victor C. (PhD), Bayem, Sylvanus A. (MSc Candidacy), and Onuorah, Anastasia C. (PhD). "MORTGAGE FINANCING AND HOUSING DELIVERIES IN NIGERIA: ANY LINKAGES?" Finance & Accounting Research Journal 4, no. 3 (October 4, 2022): 29–38. http://dx.doi.org/10.51594/farj.v4i3.372.
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The paper examined if there exist any linkages between mortgage financing and housing delivery in Nigeria from periods of 2002-2021. Specifically, the paper examined the effect of Primary Mortgage Bank Loans, Federal Mortgage Bank Loans to Mortgage, Microfinance Bank loans to mortgage, and Government Allocation to Housing on housing delivery in Nigeria. Data for the study were sourced from the Central Bank of Nigeria (CBN) statistical bulletin and the National Bureau of statistics (2021) from 2002 to 2021. Meanwhile, the study adopted the OLS estimate. Various pre-estimation and diagnostic tests considered include: Heteroskedascity test, Ramsey Reset Test, and variance inflation factors/multi-collinearity test. The study reported that, Primary Mortgage Bank Loans have significant adverse effects on housing delivery. Meanwhile, Federal Mortgage Bank Loans to Mortgage improves housing delivery minimally. More so, MBLM and finance Bank loans to mortgage and Government Allocation to Housing are major contributing factor to housing delivery in Nigeria within the periods under review. Hence, the paper concludes that, both microfinance loans to mortgage institutions and government allocations to housing are major drivers of housing delivery in the periods under review. Accordingly, the paper recommends that, the primary Mortgage Bank should heighten efforts towards improving on reforms and policies that encourage the use of loans by mortgage institution for sustained growth and greater house development. More so, the federal Mortgage Bank should introduce new, flexible, and versatile loan policies suited to the prevailing conditions in the country taking into account dynamic changes in the environment. Keywords: Mortgage Financing, Housing Deliveries, Linkages.
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Kovacs, L., and S. Pasztor. "Characteristic of Mortgage Loans and a New Solution." Federalism, no. 4 (December 18, 2019): 161–80. http://dx.doi.org/10.21686/10.21686/2073-1051-2019-4-161-180.
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Banai, Ádám, Edina Berlinger, and Barbara Dömötör. "Adjustable-rate mortgages in the era of global reflation: How to model additional default risk?" PLOS ONE 17, no. 3 (March 21, 2022): e0263599. http://dx.doi.org/10.1371/journal.pone.0263599.
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We investigate the problem of interest rate risk transforming into default risk of adjustable-rate mortgage loans in the EU. Bank regulation is strikingly not neutral in this aspect, it explicitly favors short-duration adjustable-rate loans over long-duration fixed-rate loans in the framework of the gap management. This asymmetry in the regulation creates perverse incentives both for banks and households, which can lead to aggressive risk-taking, over-indebtedness of unhedged households, high procyclicality of mortgage markets, and increased systemic risks. We present a stress test model to quantify potential losses stemming from this specific risk from the perspective of lender institutions. We estimate the average extra capital that is needed to cover the additional risk of adjustable-rate mortgage loans in the EU to be 0.53% of the value of the total mortgage portfolio and 1.97% of the value of the adjustable-rate mortgage portfolio. We propose introducing a stress test model as a new mandatory element into banks’ risk management framework.
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NIPPARD, TONY. "NEW MORTGAGE INSTRUMENTS FOR THE 1980s-INDEXED HOME LOANS." Economic Papers: A journal of applied economics and policy 5, no. 1 (March 1986): 34–40. http://dx.doi.org/10.1111/j.1759-3441.1986.tb00503.x.
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Zhu, Shuzhen, Yutao Chen, and Wenwen Wang. "Risk Assessment of Biological Asset Mortgage Loans of China’s New Agricultural Business Entities." Complexity 2020 (November 25, 2020): 1–12. http://dx.doi.org/10.1155/2020/8865840.
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The large-scale proliferation of China’s new type of agricultural entities has given rise to a higher demand for funds. Farmers have insufficient effective collateral, which makes it difficult for them to obtain sufficient loans. Chinese financial institutions have developed a biological asset mortgage loan business to cope with this situation. China has not considered biological mortgages but has been using real estate and asset mortgage models with strong realizability. This innovative financial business has achieved positive results since it was attempted, but it also faces many risks. It is very important to comprehensively and accurately consider the risk factors of biological asset mortgage loans. Based on 1249 production and operation data samples of new agricultural entities in Zhejiang, Henan, and Shandong provinces, this study constructs an XGBoost model for empirical analysis and compares it with logical regression, support vector machine, and random forest algorithms to obtain the optimal model and feature importance value. According to the characteristic importance value, a biological asset mortgage loan risk assessment system with 4 primary indicators and 20 secondary indicators is established, which can effectively identify the biological asset mortgage loan risk of new agricultural entities.
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Josipović, Tatjana. "Consumer Protection in EU Residential Mortgage Markets: Common EU Rules on Mortgage Credit in the Mortgage Credit Directive." Cambridge Yearbook of European Legal Studies 16 (2014): 223–53. http://dx.doi.org/10.1017/s1528887000002603.
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AbstractFor many years now, there has been an attempt in the European Union to create a common legal framework for mortgage credit contracts and cross-border activities in the mortgage financial sector. One of the greatest challenges has been the establishment of a corresponding level of consumer protection in EU residential mortgage markets. This issue has become particularly important at the time of financial crisis. Consumers are increasingly exposed to the risk of losing their homes because of failing to fulfil, in due time, their obligations arising from mortgage loans, and thus losing confidence in the EU financial sector. Therefore, the European Union has intensified its efforts to improve consumers’ ability to inform themselves of the potential risks when entering into mortgage loans and mortgaging their real property. On 4 February 2014 the EU adopted the new rules on mortgage credits in the Mortgage Credit Directive. The main objective of the Directive is to increase the protection of consumers in EU mortgage markets from the risks of defaults and foreclosures. A higher level of protection must be ensured by consumers’ increased information capacity related to mortgage credits, as well as by developing a responsible mortgage lending practice across the EU. The Mortgage Credit Directive is also aimed at contributing to the gradual establishment of a single internal market for mortgage credits. In this chapter, the author analyses previous and current attempts by the EU to establish a uniform market of mortgage loans, and assesses the possible impact of the Mortgage Credit Directive on the protection of consumers in the market of mortgage credits and on the development of cross-border activities in the mortgage financial sector. Special emphasis is placed on the possible impact of the new EU rules on mortgages on national protection measures aimed at consumer protection at the time of financial crisis. The transposition of the Mortgage Credit Directive will undoubtedly contribute to a higher level of consumer protection when consumers enter into home loan contracts. However, the question arises whether, because of different levels of harmonisation of some rules laid down in the Directive, its implementation will actually contribute to an increase in cross-border home loans. The possibility for Member States to opt for increased consumer protection in some aspects of credit agreements when implementing the Directive, or the existence of different options for the exercise of individual rights that they may use cannot bring about an integration of mortgage credit markets.
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Hoang, Lan Phuong. "Intellectual property mortgage - Legal aspects and practice." Ministry of Science and Technology, Vietnam 63, no. 10 (October 25, 2021): 41–45. http://dx.doi.org/10.31276/vjst.63(10).41-45.
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Using intellectual property as collateral for loans is widely accepted around the world, but this is new in Vietnam despite the allowance of contemporary legal regulations. This is an opportunity for individuals and enterprises in Vietnam. However, in practice, accessing loans by mortgaging intellectual property at banks in Vietnam is challenging. The difficulties may come from the lack of detailed regulations, the challenge of valuating “intangible” intellectual property, or potential conflict resolutions. This paper examines the issue from a legal perspective and shows difficulties when mortgaging intellectual property in Vietnam.
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Yurkiv, Nadiia, Oleksandr Dubrovin, and Serhii Davydenko. "State Support of Mortgage Lending as a Condition for Ensuring Stable Development of the National Economy." ЕКОНОМІКА І РЕГІОН Науковий вісник, no. 1(80) (March 25, 2021): 92–99. http://dx.doi.org/10.26906/eir.2021.1(80).2243.
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The issues of state support of mortgage lending in Ukraine as a tool to stimulate the housing market, expand the opportunities of a wide range of citizens to meet housing needs and ensure the stable development of the national economy are considered. The fragmentation of the state housing policy and various instruments of state support for housing market participants are noted. Emphasis is placed on the significant unrealized potential of the construction sector, whose contribution to the domestic economy is three times smaller than the European average. The state and dynamics of the housing stock of Ukraine, the development of which remains highly sensitive to changes in the economy, are analysed. The problem of inaccessibility of mortgage lending for the general population is emphasized, which is mitigated both by market decisions of banks to reduce real mortgage rates and government initiatives to introduce and improve programs for affordable loans and housing. The practice of state programs in the housing market is analysed and the preservation of problems of their effective implementation is noted, including limited and instability of financing, the ambiguity of participation conditions, narrow target orientation, the inconsistency of responsibility of program participants. The peculiarities of the current mortgage lending are determined, among which the increase of new mortgage loans, the dominance of agreements on the secondary market, the limited number of mortgage lending banks, the provision of mortgage loans for a short period. New government initiatives to stimulate mortgage lending are considered, among the positive aspects of which is the priority of reducing the % of loan servicing, harmonization of relevant regulations, clarification of the procedure for participation. It is proposed to apply a systematic approach to the development of state support programs, which will be based on priorities by stimulating the growth of incomes and solvency of broad sections of citizens and the involvement of innovative developers in programs.
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Fishback, Price, Sebastian Fleitas, Jonathan Rose, and Ken Snowden. "Collateral Damage: The Impact of Foreclosures on New Home Mortgage Lending in the 1930s." Journal of Economic History 80, no. 3 (July 16, 2020): 853–85. http://dx.doi.org/10.1017/s0022050720000352.
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The Great Depression of the 1930s involved a severe disruption in the supply of home mortgage credit. This paper empirically identifies a mechanism lying behind this credit crunch: the impairment of lenders’ balance sheets by illiquid foreclosed real estate. With data on hundreds of building and loans (B&Ls), the leading mortgage lenders in this period, we find that the overhang of foreclosed real estate explains about 30 percent of the drop in new lending between 1930 and 1935.
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Fleming, Grant. "Economists and mortgage relief in New Zealand in the 1930s." Australian Economic History Review 37, no. 1 (March 1997): 54–68. http://dx.doi.org/10.1111/1467-8446.00004.
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Schuck, Edward J. "Financial Risk Sharing in New Zealand′s Residential Mortgage Market." Journal of Property Finance 5, no. 1 (March 1994): 41–50. http://dx.doi.org/10.1108/09588689410063193.
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Fleming, Grant. "Economists and Mortgage Relief in New Zealand in the 1930s." Australian Economic History Review 37, no. 1 (January 1997): 54–68. http://dx.doi.org/10.1111/aehr.371004.
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Yiu, Chung Yim. "A Natural Quasi-Experiment of the Monetary Policy Shocks on the Housing Markets of New Zealand during COVID-19." Journal of Risk and Financial Management 16, no. 2 (January 25, 2023): 73. http://dx.doi.org/10.3390/jrfm16020073.
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It is hard to experimentally test the impacts of monetary policy shocks on housing markets as it is very unlikely for a central bank to change monetary policies swiftly twice within a short period of time for exogenous reasons. However, during the pandemic, the central bank of New Zealand changed its policies 180 degree in 2 years, from an unprecedented low interest rate and a relaxed mortgage policy in 2020 to a 13-year record high interest rate and a tightened mortgage policy in 2022. Among the OECD members, New Zealand is the country that increased the interest rate the earliest and also the country that had its house prices fall the earliest. It provides natural quasi-experiments to test the monetary policy hypothesis empirically by the two policy changes as treatments on house prices. This study conducts a time series regression analysis on the housing markets of New Zealand to test the hypothesis in the pre-COVID and the COVID periods, ranging from 2016 Q2 to 2022 Q3. The results confirm that mortgage rates have a negative and significant effect on house price changes after controlling for the economic growth factor and the housing supply factor, no matter whether the monetary policy switches to expansionary or contractionary mode. The robustness test results of the housing markets show that a 1% fall/rise in the mortgage rate caused a 5.6% increase/decrease in house prices, ceteris paribus, in the COVID period. The results also do not support the housing supply hypothesis in New Zealand.
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Hyde, Allen, and Mary J. Fischer. "New Faces, New Neighbors? How Latino Population Growth and Lending Expansion Shapes the Neighborhood Racial and Ethnic Composition for White and Latino Homebuyers." City & Community 20, no. 2 (February 3, 2021): 99–120. http://dx.doi.org/10.1177/1535684120981344.
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Fueled by increased socioeconomic status (SES), geographic mobility, and access to lending, Latino home buying expanded during the recent housing boom. However, less is known about the types of neighborhoods Latino homebuyers accessed during this time. To address this gap, we explore how SES, mortgage type, and the metropolitan racial and ethnic context affected the racial and ethnic composition of neighborhoods for new white and Latino homeowners. We use data from the Home Mortgage Disclosure Act to explore these processes in 317 U.S. metropolitan areas from 2000 to 2010. Overall, we find evidence supporting both spatial assimilation theory and place stratification theory: while increased SES and loan amounts led to more white neighbors for both white and Latino homebuyers, subprime loans and the racial and ethnic context of metropolitan areas continue to constrain neighborhood attainment for Latinos.
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Goodman, Laurie S., and Karan Kaul. "Mortgage Modifications for Government Loans: New Tools Needed for a Higher Rate Environment." Journal of Structured Finance 25, no. 2 (June 25, 2019): 35–44. http://dx.doi.org/10.3905/jsf.2019.1.076.
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Bodnaruk, I. L. "Peculiarities and problems of implementation of state youth housing loans programs in Ukraine." Ukrainian society 74, no. 3 (October 16, 2020): 78–90. http://dx.doi.org/10.15407/socium2020.03.078.
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The article dwells upon one of the most essential needs and benefits of the population – providing their own housing. Most young people are unable to solve housing problems on their own, so government support is significant to them. The issue of creating appropriate conditions that will increase the level of housing for the population is still relevant today. Theoretical and practical results of the study were obtained using the following methods: synthesis, analysis of evaluation methods, logical generalization. The works of many domestic scientists are devoted to the research of the problems of the state housing policy, among which: V.O. Omelchuk, V.B. Averyanov, M.F. Holovaty, P.I. Shestopalov, E.A. Sokolovskiy, E.O. Bublyk and others. The article analyzes the state and identifies the main features of the implementation of state programs of youth housing loans. Insufficient state funding for these programs, the constant growth of the number of citizens who need the state to ensure appropriate social living standards. All this encourages the search for new ways to improve the availability of real estate financing systems. One of them may be affordable mortgage loans. This will allow to effectively develop, in addition to housing programs for youth soft loans, a socially oriented mortgage market. Proposals have been made for the provision of affordable mortgage loans, depending on the level of solvency of the population, which will solve critical social problems of both young people and other categories of citizens. The opportunity to get their own housing in the future will increase the level of protection of vulnerable social groups, which in turn will encourage people to live and work in Ukraine.
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Wesna, Putu Ayu Sriasih, Ida Bagus Dwi Jusarata, and Johannes Ibrahim Kosasih. "The Legal Consequences of Debtor Transfer Carried out under the Agreement, House Ownership Loans." Jurnal Hukum Prasada 9, no. 2 (September 12, 2022): 86–97. http://dx.doi.org/10.22225/jhp.9.2.2022.86-97.
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Mortgage agreements often find cases, including the transfer of rights to the mortgage object, namely the house, which is carried out under the hands of the debtor to another party before the mortgage is paid off without the knowledge of the bank. This research aims to examine the validity of the house sale and purchase agreement on house ownership loans (KPR), through the debtor transfer process and to examine the legal consequences of the transfer of debtors carried out under the hands of a mortgage agreement, and also to examine the efforts have been taken by the bank to overcome it. This research used normative legal research. The results of this research showed that the transfer of debtors in general can occur with the knowledge of the bank and without the knowledge of the bank (under the hands). It can be concluded that the debtor transfer process is a form of sale and purchase agreement made between the old debtor, who is still bound by the bank credit agreement, and the new debtor. The process of transferring debtors legally must be carried out between three parties, namely the bank, the old debtor and the new debtor. The debtor transfer process must meet the requirements for a valid credit agreement, which is based on Article 1320 of the Civil Code. If there is a transfer of the debtor without the knowledge of the bank, legal remedies must be taken by the new debtor by filing a lawsuit against the old debtor and the bank to the District Court. This decision from the District Court which has permanent legal force (inkracht) is evidence of the existence of an agreement between the old debtor and the new debtor, and can be the basis for the bank to submit certificates and other documents to the new debtor. In order to avoid problems in the future, people who want to transfer debtors to mortgages can do so after obtaining approval from the bank as creditor.
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Kozlova, Tetiana, Anastasiia Nikulina, Olena Avramenko, and Nataliia Korniushyna. "The functional сapacity of Maori loans in New Zealand English." Nova fìlologìâ, no. 79 (2020): 61–67. http://dx.doi.org/10.26661/2414-1135/2020-79-10.
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Laufer, Steven, and Andrew Paciorek. "The Effects of Mortgage Credit Availability: Evidence from Minimum Credit Score Lending Rules." American Economic Journal: Economic Policy 14, no. 1 (February 1, 2022): 240–76. http://dx.doi.org/10.1257/pol.20180229.
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This paper uses changes in mortgage lenders’ minimum credit score thresholds to credibly identify the effects of access to household credit. Falling under these thresholds has very large negative effects on borrowing for up to two years, and these effects fail to reverse within four years. The effects are particularly concentrated among individuals who have relatively high credit demand and face relatively large contractions in credit supply. In addition, access to new mortgage credit reduces delinquency on nonmortgage debt and appears to spill over to demand for auto loans. (JEL G21, G51, R21)
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NAPITUPULU, LUCY MARGARETH. "ANALISIS YURIDIS SUBROGASI DENGAN PENGALIHAN KREDIT YANG TERIKAT HAK TANGGUNGAN PADA PT. BANK RAKYAT INDONESIA (PERSERO) TBK. CABANG KABANJAHE." Ilmu Hukum Prima (IHP) 4, no. 1 (April 30, 2021): 119–39. http://dx.doi.org/10.34012/jihap.v4i1.1635.
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All business sectors or individuals today and in the future cannot be separated from banking sector. In order to balance and harmonize this need, the role of bank is to provide loan fund through loan. Kabanjahe Branch Office of BRI, in providing loans, makes efforts and competes to create innovations to their products as their strategies to get prime consumer debtor candidate including debtors who performs loan takeover. Loan takeover that is bound with mortgage right in Kabanjahe Branch Office of BRI is the provision of new loans to consumer debtor, which aims to pay consumer debtor’s ongoing loans, with land title as mortgage rights of the loan that is bound with mortgage right in the older bank, so that Kabanjahe Branch Office of BRI replaces rights of the older bank. Loan takeover that is bound with mortgage rights in Kabanjahe Branch Office of BRI is related to the provisions of subrogation in the Civil Code.This research employs empirical juridical method which is descriptive. It describes, studies, explains, and analyzes theoretical and practical legal regulations on mechanism and legal consequences for loan takeover that is bound with mortgage right in Kabanjahe Branch Office of BRI, and whether the loan takeover is in line with the provisions of subrogation in the Civil Code.The results of the research explains the mechanism of loan takeover. It is done by submitting an application for loan by candidate consumer debtor to be processed, and then the loan is realized and transferred. The legal consequences for loan takeover is the emergence of a loan agreement between customer debtor and Kabanjahe Branch Office of BRI and the termination of the loan agreement between the customer debtor and the older bank; the elimination of mortgage right for and in the name of the older bank and the emergence of mortgage right for and in the name of Kabanjahe Branch Office of BRI; the termination of the position of older bank as creditor and holder of the mortgage right of customer debtor and mortgage right grantor. The implementation of the loan takeover that is bound with mortgage right in Kabanjahe Branch Office of BRI has been in line with the provision son subrogation, namely Article 1400 of the Civil Code, particularly Article 1400 sub 2 of the Civil Code.It is suggested that the Law further regulate provisions on subrogation that are in line with the banking development today, so that loan takeover that is bound with mortgage right can fully/completely implement the provision on subrogation as well in the future. It is expected that more references discuss about the legal consequences for loan takeover that is bound with mortgage right. It is also expected that subrogation be introduced and implemented again in banking practice and Notary, because it is in line with the provision son subrogation in the Civil Code.
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Ma, Seung Ryul. "Evaluating Borrower's Net Yield in Long-Term Fixed Rate Mortgage Loans in Korea." International Review of Financial Consumers 4, No. 1 Apr 2019 (April 1, 2019): 1–16. http://dx.doi.org/10.36544/irfc.2019.1-1.1.
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The Korean government has tried to change the structure of residential mortgages in Korea from the short-term variable-rate non-amorting loans to the long-term fixed-rate amorting loans since the early 2000’s. This study examines he borrower’s net yield from that new type of loans, which is defined as the difference between the lender’s yield out of the borrower’s repayment and the borrower’s yield from the expected gain on the portion of housing equity funded by cosnumer. The main hypothesis tested is that the borrower’s net yield will be affected by the time of loan origination and the level of mortgage interest rate charged because the future fluctuations of housing values and that of market interest rates are expected to be key determinants. The results confirm the hypothesis in that borrower’s net yields show positive or negative values according to the time of loan start, the level of fixed loan rates, or home regions. The results documented can offer a useful information as to the financial consumers’decision on loan amount and the timing of loan application considering the housing and mortgage market condition, which in turn can provide policy implication to regulating the maximum loan-to-value (LTV) ratio regulations.
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Udoka, Chris O., and Mary Kpataene. "MORTGAGE FINANCING AND HOUSING DEVELOPMENT IN NIGERIA." International Journal of Research -GRANTHAALAYAH 5, no. 5 (May 31, 2017): 182–206. http://dx.doi.org/10.29121/granthaalayah.v5.i5.2017.1850.
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This study examined mortgage financing and housing development in Nigeria. The main focus of this research was to ascertain the impact of mortgage loan in housing development in Nigeria. To achieve this objective, data were extracted from CBN statistical bulletin and National Bureau of Statistics from 1990 to 2014. Three hypotheses were formulated and tested using econometric models such as Augmented Dickey-Fuller unit root test, the co-integration tests revealed the existence of a long-run relationship among the variables. The Error Correction Model established causal links and dynamic interactions between variables by granger causality test. The result of the findings showed a significant relationship between mortgage financing and housing development in Nigeria. Variables such as mortgage loan and interest rate had positive and significant impact on housing development while cost of building had a negative effect on housing development in Nigeria. Further findings revealed that mortgage bank deposit had positive effect on mortgage investment while inflation had a negative effect on mortgage investment. The study recommended that mortgage institution in Nigeria should develop strategies to mobilize more deposits and explore new sources of fund such as funds from the capital market via housing bonds, savings and loans from co-operative societies. Government should create an enabling environment for private housing sector in housing development in Nigeria by providing infrastructure and enhancing soundness and competitiveness of mortgage institutions in Nigeria.
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Volosatii, Carolina, and Svetlana Albu. "BEST PRACTICE METHODS FOR ESTIMATING SUSTAINABLE LONG-TERM VALUE FOR LENDING PURPOSE." Journal of Social Sciences V, no. 1 (February 2022): 88–105. http://dx.doi.org/10.52326/jss.utm.2022.5(1).11.
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Mortgage lending creates risks for consumers who resort to loans as well as for credit institutions that make lending decisions. One way to ensure that the potential risks associated with mortgage lending are properly managed is through the value and price of the mortgaged object. This article refers to the new requirements of the European Banking Authority, to determine a prudential value different from the market value as the security for a credit exposure, which takes into account the long-term sustainability aspects of real estate –Sustainable long term value (LTV-S or MLV). Value, which should become a credit riskmanagement tool, and which would provide some protection over time.
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Kozlova, Tetyana, and Maciej Rudnicki. "MAORI LOANS IN NEW ZEALAND ENGLISH FROM A LANGUAGE ECOLOGY PERSPECTIVE." Polonia University Scientific Journal 39, no. 2 (2020): 67–73. http://dx.doi.org/10.23856/3908.
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Julianita Koto, Sri Eni. "Pengalihan Kreditur Melalui Ceasie (Studi Kasus Pada Koperasi Simpan Pinjam Indosurya)." Jurnal Perspektif Hukum 2, no. 1 (March 19, 2021): 1–14. http://dx.doi.org/10.35447/jph.v2i1.268.
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The state of liquidation of each bank and non-bank financial institution is strongly affected by social and economic conditions, both on a national and international scale. In order for lending (loans) to continue to run, it is known that the accounts receivable transfer agency is known as cessie. Based on Article 613 of the Civil Code, it is stated that the delivery of receivables in the name and other bodily objects is carried out by making an authentic deed or deed under the hands of which the rights to property are delegated to others. The delivery of these receivables has no effect on the debtor before delivery is notified and approved in writing or acknowledged by the Debtor / Borrower. The existence of an authentic deed or underhand deed is needed as a way of transferring or transferring ownership rights over the receivables in question from the creditor to a third party. The role and authority of a Notary in the making of cessie documents, as regulated in the notary office law, namely "Notary is a public official who has the authority to make authentic deeds and has other powers as referred to in the notary office law. Receivables transferred by cessie are a claims held by creditors against their debtors which are claims on behalf of. In principle, a bill in the name shows clearly and definitely about the creditor who is entitled to receive payment. This occurred in the transfer of accounts receivable between the Indosurya Savings and Loans Cooperative (Old Creditors) and Indosurya Inti Finance (As the new creditors). The transfer of accounts receivable that occurs between the Indosurya Savings and Loans Cooperative and Indosurya Inti Finance has a legal effect on the collateral binding that has been installed by the mortgage and has legal consequences for the borrower / debtor of the Indosurya savings and loan cooperative who switches from the Cooperative Borrower who is subject to the regulations of the Ministry of Cooperatives and Small Business and Medium to become Indosurya Inti finance debtors who are subject to the regulations of the Financial Services Authority.The problems in this research, among others: How is the transfer of accounts receivable by cessie and the consequences for guarantees of mortgage rights, How is the implementation of collection of accounts receivable (cessie) made with a notary deed, How is the implementation of cessie in indosurya savings and loan cooperatives. The problems in this study include: How is the transfer of accounts receivable by cessie and the consequences for guarantees of mortgage rights, How is the implementation of collection of accounts receivable (cessie) made with a notary deed, How is the implementation of cessie in indosurya savings and loan cooperatives. This research uses legal certainty theory and legal protection theory. This research uses normative legal research methods that are descriptive in nature, the data sources of this study can be divided into primary data and secondary data. Primary data was conducted in order to obtain field research through interviews with informants. Library research is carried out by reading books, journals, and laws and regulations. The results showed that. The transfer of accounts receivable (Cessie) between the old creditor and the new creditor which is guaranteed by the mortgage right causes the mortgage to also be transferred. The law states that if the receivables secured by mortgage rights are transferred due to cessie, subrogation of mortgage rights is also transferred due to the law. The role of a notary in the production of a cessie deed is the same as that of other deeds made by a notary. As a deed made before / made by a Notary Public has Construction, namely the Authority, requirements and procedures that must be carried out by the Notary Public. . The implementation of Accounts Receivable Transfer (Cessie) between the Indosurya Savings and Loan Cooperative and Indosurya Inti Finance has legal consequences for both the borrower and the new creditor (cessionaris). The implementation of the cessie has not been carried out as it should be regulated in the provisions of the law. Accounts receivable transfer is only carried out in an operational system, debtor loans are transferred to the operational system of Indosurya Inti Finance. Accont management (loans) is still maintained by the Indosurya Savings and Loans Cooperative. this causes losses incurred on the borrower (Debtor) and results in legal uncertainty. Article 16 of the mortgage rights law confirms that receivables are transferred due to cessie, and the mortgage rights are transferred due to law to new creditors. In the implementation of the cessie between Indosurya savings and loan cooperatives and the core indosurya finance, the mortgage rights have not been registered again. The deviation from the practice of implementing this cessie is not mentioned in the law, namely Article 16 of Law No. 4 of 1996. In juridical terms, the absence of the transfer of the security right causes the cessei agreement to be null and void or it is assumed that the transfer of accounts receivable has not yet occurred. In a sociological view, the non-registration of mortgage rights does not make the cessie cancel. The agreement has no material rights, because material rights have the principle of publicity. Publicity principle is a security right that must be registered. So that creditors change from preferred creditors to become concurrent creditors
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Liang, Zhijian, and Xueying Wang. "Corporate Environmental Performance and Bank Credit Financing." E3S Web of Conferences 292 (2021): 03003. http://dx.doi.org/10.1051/e3sconf/202129203003.
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Taking listed companies in heavy polluting industries in China from 2012 to 2018 as research samples, this paper examines the impact of corporate environmental performance on credit financing capacity. The results show that good environmental performance contributes to the improvement of corporate credit financing capacity, which is embodied in more new loans, lower loan rates, longer loan maturities, and less possibility of mortgage guarantee requirements.
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Nguyen, Chu, and Muhammad Ali. "Mortgage and Short-term Interest Rate Spread: The Case of New Zealand." Global Review of Accounting and Finance 5, no. 2 (September 2014): 64–78. http://dx.doi.org/10.21102/graf.2014.09.52.05.
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Shi, Song. "Mortgage Interest Rates, Rents, and Local House Price Movements in New Zealand." Journal of Real Estate Portfolio Management 17, no. 1 (January 1, 2011): 53–68. http://dx.doi.org/10.1080/10835547.2011.12089890.
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Биханова, A. C., and C. C. Ургушева. "СУЧАСНИЙ СТАН І ОСОБЛИВОСТІ ІПОТЕЧНОГО КРЕДИТУВАННЯ В РЕСПУБЛІЦІ КАЗАХСТАН." TIME DESCRIPTION OF ECONOMIC REFORMS, no. 3 (October 18, 2019): 41–47. http://dx.doi.org/10.32620/cher.2019.3.05.
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Formulation of the problem. The development of mortgage lending brings significant benefits to the state. First of all, it helps to solve the housing problem, which is important from the point of view of social policy. This encourages citizens' own initiative. In addition, domestic investment - savings of the populapopulation, money of institutional investors - is involved in lending. The purpose of the article is to reflect the current state and features of mortgage lending in the Republic of Kazakhstan (Kazakhstan). The subject of the research is mortgage relations regarding housing lending in the Republic of Kazakhstan. Methods used in the research: analysis and synthesis, induction and deduction, logical and historical method, scientific abstraction and statistical comparisons. The hypothesis of the research is to substantiate the value of the mortgage to improve the stability and efficiency of the banking system of the country. Secured loans are more secure for banks, because when a loan is not repaid, the bank pledges and repays its funds. Statement main material of the research. In the Republic of Kazakhstan, there is an increase in loans granted to households by second-tier banks for the purchase of housing. Currently, mortgage lending in Kazakhstan is a real opportunity to buy real estate for many working Kazakhstani people with a stable income. Especially in view of the fact that recently, in all mortgage companies, the mandatory first deposit has been reduced from 30% to 10% - 15% of the cost of housing, the loan term has been increased from 3 to 20 years, and the interest rate has decreased from 24 % (2001) to 8% (2018). Originality and practical significance of the research. The proposed measures will provide additional impetus for the revitalization of the Mortgage Lending Program and accelerate the implementation of the President's instructions to provide affordable housing for citizens. Conclusions of the research. In the short term, the massive introduction of a home mortgage lending system will cause an increase in housing demand. Due to the inelastic demand in the housing market in the short term, it is natural that such a situation will lead to an increase in housing prices. The role of the state is to gradually introduce mortgage lending and, at the same time, to systematically expand the housing market by supporting the construction of new homes and creating adequate demand.
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Rauterkus, Andreas. "The “New Normal” in Mortgage Lending and Its Impact on Default Probabilities." Baltic Journal of Real Estate Economics and Construction Management 9, no. 1 (January 1, 2021): 130–47. http://dx.doi.org/10.2478/bjreecm-2021-0011.
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Abstract The paper analyses the evolution of the use of subprime loans and the availability of credit to different classes of borrowers. It examines the time period from 1980 to 2008 as a whole, as well as the changes in credit profiles in five sub-periods. By tracking borrower characteristics and their impact on foreclosure probability over time it determines what went wrong and how policy can be developed that prevents a repeat of the housing crisis that began at the end of 2006. The findings suggest that over the sample period debt to income, FICO score and loan-to-value are significant determinants for the probability of foreclosure and their importance increases over time. Furthermore, some borrowers are three times more likely to default on a loan originated between 2001 and 2006 than a loan originated between 1980 and 1994 indicating a distinct difference in lending terms and the general lending environment over time.
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Stout, Noelle. "#Indebted: Disciplining the Moral Valence of Mortgage Debt Online." Cultural Anthropology 31, no. 1 (October 23, 2015): 82–106. http://dx.doi.org/10.14506/ca31.1.05.
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The 2008 mortgage crash and the online publics that have emerged in its aftermath have reshaped American interpretations of indebtedness. Combining research among homeowners facing foreclosure in California’s Sacramento Valley with an analysis of the national online forums they frequent, I show how participants rethink the moral scaffolding of debt relations within what I describe as online publics of indebtedness. Anonymous online publics foster experiences of disembodied autonomy that encourage debt refusal and discipline the middle-class ethics of debt abandonment, as participants distinguish between mortgagors who deserve not to pay their debts and those they deem irresponsible for defaulting on their loans. In contrast, participation in semipublic social networks and online forms of publicity emphasizes new affective orientations toward debt obligations. My analysis contributes to an anthropological scholarship on moral economies by exploring the role of distinct forms of new media in shaping everyday experiences of indebtedness in late-capitalist financial markets.
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De Gayardon, Ariane. "Income-Contingent Loans: Not a Miracle Solution." International Higher Education, no. 93 (March 29, 2018): 18–19. http://dx.doi.org/10.6017/ihe.0.93.10430.
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With the rising costs of higher education, an increasing share of which is borne by students and their families, governments have had to design student loans schemes to open higher education to all. A popular option among economists is income-contingent loans, where repayment is calculated as a share of the borrower’s income to avoid high repayment burden. However, the three flagship countries forincome-contingent loans—Australia, England, and New Zealand—are all currently experiencing financing issues. This raises the question of defining the correct specification of income-contingent loans schemes, as well as finding the proper balance between different financial aid policies.
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De Gayardon, Ariane. "Income-Contingent Loans: Not a Miracle Solution." International Higher Education 2, no. 93 (March 29, 2018): 18. http://dx.doi.org/10.6017/ihe.2018.93.10373.
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With the rising costs of higher education, an increasing share of which is borne by students and their families, governments have had to design student loans schemes to open higher education to all. A popular option among economists is income-contingent loans, where repayment is calculated as a share of the borrower’s income to avoid high repayment burden. However, the three flagship countries forincome-contingent loans—Australia, England, and New Zealand—are all currently experiencing financing issues. This raises the question of defining the correct specification of income-contingent loans schemes, as well as finding the proper balance between different financial aid policies.
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Milhaud, Cyril. "INTERREGIONAL FLOWS OF CAPITAL AND INFORMATION IN SPAIN: A CASE STUDY OF THE THERESIAN CARMELITE ORDER." Revista de Historia Económica / Journal of Iberian and Latin American Economic History 37, no. 1 (November 29, 2018): 81–110. http://dx.doi.org/10.1017/s0212610918000174.
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AbstractRecently, new research has challenged the traditional narrative; Spain did not suffer from a ruler that threatened his subjects’ property with excessive taxes and forced loans. Instead, Spanish economic development was held back by decentralised and non-predatory governance, unable to solve the coordination problems blocking the way to more integrated markets. Through the analysis of the governance and loan portfolios of an ecclesiastical order, this paper examines the extent to which mortgage credit markets were fragmented in early modern Spain. This order not only collected resources that it subsequently lent but also pooled them. Indeed, it developed into a nationally integrated organisation able to offer everything from small loans to farmers to substantial amounts to the king and the Madrid elite.
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Agbada, Andrew O., and Ekakitie-Emonena Sunny. "Empirical Analysis of Primary Mortgage Institutions Fundamentals and Gross Domestic Product Increase in Nigeria." Applied Finance and Accounting 2, no. 1 (December 17, 2015): 89. http://dx.doi.org/10.11114/afa.v2i1.1257.
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This study seeks to empirically analyze Primary Mortgage Institutions (PMIs) Fundamentals and Gross Domestic Product Increase; in other words, economic growth in Nigeria. The (PMIs) fundamentals in the new PMIs guidelines include Mortgage finance, Investments and Deposits taking. Thus, PMIs Loans, PMIs Investments and PMIs Deposits are adopted as the explanatory variables and served as proxies for PMIs fundamentals to explain Gross Domestic Products (GDP). Data used for empirical estimation were sourced from CBN statistical Bulletin, 2011 and 2013 and analyzed using Multiple Regression technique parameters. The research findings were robust. The statistical parameters exhibited high coefficients and the F-statistics which indicates the overall significance of the model stood at 75.23. These results led us to reject the null hypothesis and accept the alternate hypothesis that there is a strong relationship between GDP and PMIs Loans, PMIs Investments and PMIs Deposits. However, the coefficients of the t-test parameters were low indicating that the impact of the explanatory variables on GDP was very minimal, meaning that their contributions to GDP were not relevant. Conclusively, the results indicate that while there is a significant relationship between GDP and PMIs variables, the impact of these variables on GDP was not significant during the period under review. Thus, we recommend that relevant policies with capacity to boost the activities of PMIs for maximum productivity should be enacted by government regulatory agencies in order to re-equip the housing finance market and increase the ratio of mortgage finance as a percentage of GDP.
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Бугрова, Валентина, Valentina Bugrova, Анна Малыгина, and Anna Malygina. "Study of the legal basis of housing mortgage." Services in Russia and abroad 9, no. 1 (June 25, 2015): 85–93. http://dx.doi.org/10.12737/11711.
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In the Bulgakov´s novel, "Master and Margarita", it is said that people are spoilt by the housing problem. But, probably, and in today´s society it is more than ever, and for most Russians the housing problem remains a major issue.
Contrary to popular belief about the novelty of the mortgage, it has been around for a long time, since the time of the Archon Solon, who lived in the VI BC.
But in Russia, the first mention of the so-called "mortgage" is dated XIII century. In XVIII-XIX centuries under Catherine II and Alexander II mortgage loans were most actively developed. However, at the beginning of the XX century, after the October Revolution of 1917, the concept of "mortgage" gradually disappeared from everyday life and considered as a "bourgeois phenomenon". The origin of the "new" Russian mortgage started in the early 90s of the twentieth century, but only by 2000, there have been real positive conditions and trends of its development.
Mortgage as a form of solution of housing problem is widely discussed by legislators, society and the media. It is difficult to find legal or economic magazine or newspaper, which had not raised the issue of mortgage and related numerous problems. It happens that the opinions of authors on various issues differ, but one thing they are in agreement – it is necessary to develop the mortgage.
The article deals with current issues of lending to households and features of home mortgages.
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Chong, Fennee. "Housing Price, Mortgage Interest Rate and Immigration." Real Estate Management and Valuation 28, no. 3 (September 1, 2020): 36–44. http://dx.doi.org/10.1515/remav-2020-0022.
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AbstractHousing price in New Zealand has appreciated substantially after the Global Financial Crisis, resulting in an affordability problem for first home buyers. This paper studies whether changes in immigration activity and mortgage interest rate influence housing price. Empirical findings derived using VECM confirm the impact of immigration and mortgage interest rate on housing property price. Both variables explain 11.4 percent of the variation of Housing Index. An increase of 1 percent in mortgage interest rate would reduce the housing index movement by 1.44 percent whilst a 1 percent increase in immigrants would increase the housing index by 0.30 percent. In addition, about 2 percent of the short-run deviations of housing prices are adjusted towards the long-run equilibrium each month.
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Simpson, Garth, and Nicholas McGuigan. "The Global Financial Crisis : A Driver for More Responsible Mortgage Lending in New Zealand." International Journal of Interdisciplinary Environmental Studies 11, no. 2 (2016): 1–17. http://dx.doi.org/10.18848/2329-1621/cgp/v11i02/1-17.
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Murphy, Laurence. "A profitable housing policy? The privatization of the New Zealand Government's residential mortgage portfolio." Regional Studies 34, no. 4 (June 2000): 395–99. http://dx.doi.org/10.1080/00343400050078178.
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Koniagina, M. N., and A. A. Khashaev. "Mortgage lending market in Russia in terms of exit out of the pandemic." Economics and Management 28, no. 4 (May 1, 2022): 324–30. http://dx.doi.org/10.35854/1998-1627-2022-4-324-330.
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Aim. The work aimed to summarize the results of the development of the mortgage lending market during the acute phase of the COVID-19 pandemic and predict its development in the near future.Tasks. The work was performed to investigate the volume of issuance and growth rates of mortgage lending in Russia; to analyze the dynamics of the total mortgage portfolio of the banking system of the Russian Federation (RF), as well as the average cost of 1 square meter of housing in the primary and secondary markets in a pandemic, combined with government support; demonstrate possible changes in the Russian mortgage market during the exit out of the COVID-19 pandemic and consequences of the implementation of state market support programs.Methods. The methodological foundation of the study was the general scientific methods of cognition, namely analysis, synthesis, generalization, visualization, and forecasting. In particular, the authors analyzed the indicators of the mortgage lending and real estate markets, identified causal relationships between the state support for mortgage lending and changes in the main parameters of the real estate market, as well as forecasting the dynamics of its individual indicators.Results. The work presents the main indicators characterizing mortgage lending in Russia from 2014 to the present time, including the aggregate mortgage portfolio of Russian banks. The study describes the average cost of 1 square meter of housing in the primary and secondary markets. The authors of the article predicted changes in the mortgage lending market, the state of the quality of bank loan portfolios and trends in the residential real estate market as a whole.Conclusion. Under conditions of the COVID-19 pandemic, mortgage lending has shown its incredible growth in association with government support. However, according to the authors, there will be significant changes in the future, which will be the consequences of such a rapid development, namely an increase in overdue indebtedness on mortgage loans, a shortage of demand for built housing which has sharply become expensive. Banks will be forced to tighten monitoring of mortgage programs and select carefully new borrowers, ensuring their highest quality.
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M. Barrutia, Jose, and María Paz Espinosa. "Consumer expertise matters in price negotiation." European Journal of Marketing 48, no. 11/12 (November 4, 2014): 1962–85. http://dx.doi.org/10.1108/ejm-04-2013-0208.
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Purpose – The main purpose of this paper is to study the effect of consumer expertise on mortgage loan prices. We argue that consumer expertise should affect price due to two reasons: (1) loan mortgage prices in non-price-regulated settings are usually the result of a bank-customer negotiation process; and (2) a mortgage loan is a complex product. Design/methodology/approach – Data on mortgage loan prices were used for a sample of 1,055 households for 2005 (Bank of Spain Survey of Household Finances, EFF-2005). Findings – The regression results indicate that consumer expertise-related metrics are highly significant as predictors of mortgage loan prices. Findings also indicate that cost-related variables and a measure of risk with low discrimination power (i.e. having a permanent employment contract, which accounts for 70 per cent of contracts in Spain) affect price. Surprisingly, more sophisticated measures of credit risk do not have such a significant impact on mortgage prices. Research limitations/implications – Empirical results refer to the credit conditions prior to the financial crisis and could shed some light on the factors that led to it. Practical implications – Findings seem to indicate that, in the period under study, bank managers prioritized capturing new business in the short-term against normative prescriptions, which suggest that price should be credit-risk adjusted (financial literature) and long-term consumer potential adjusted (marketing literature). The post-2008 difficult economic situation of Spanish banks (linked to an excessive portfolio of mortgage loans granted at very low prices) shows that these strategies were wrong. Originality/value – An uncommon perspective was adopted. The importance of consumer expertise-related variables on price has been underemphasized by prior research. The effect of consumer expertise is assessed by using a large and comprehensive database.
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Jakušonoka, Ingrīda, and Linda Barakauska. "DEVELOPMENT AND USAGE OF SCORING SYSTEMS IN GIVING MORTGAGES BY COMMERCIAL BANKS OF LATVIA." Science and Studies of Accounting and Finance: Problems and Perspectives 10, no. 1 (November 25, 2016): 55–64. http://dx.doi.org/10.15544/ssaf.2016.06.
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Competition among banks is stiff in this field (mortgage loans), where everyone wants to offer clients more favourable terms and conditions, thus gaining the largest market share. However, the credit terms and conditions can vary considerably, given the purpose of credit and the collateral. The world uses different assessment methods for a borrower’s evaluation. Particular attention is paid to the borrower's credibility and additional creditworthiness by collecting, processing and evaluating important information on the credit applicant. This research work is based on theoretical knowledge in economics, legal documents and statistical data analyses to investigate mortgage lending by Latvian commercial banks, the potential risks, the solvency assessment models, including the scoring system (the system’s role in mortgage lending practised by Latvian commercial banks), and to develop proposals for the system improvement. In the paper, the authors give insight into the creditworthiness analysis model – Credit Scoring –, the Latvian mortgage credit market, different loan terms and conditions provided by Latvian commercial banks and lending development impacts and describe the essence of the scoring system and the way how Latvian commercial banks use the system. The new provisions of 2016 in the Consumer Rights Protection Law regarding requesting complete information allow considerably enhancing the loan scoring system of commercial banks in compliance with Directive 2014/17/EU of the European Parliament and of the Council of 4 February on credit agreements for consumers relating to residential immovable property.
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Nurrizqi Rahmadania, Siti Aisyah, and Nurismalatri Nurismalatri. "ANALISIS CREDIT SCORING DAN FAKTOR-FAKTOR YANG MEMPENGARUHI NPF PEMBIAYAAN MURABAHAH PADA PT BANK MUAMALAT INDONESIA." JABI (Jurnal Akuntansi Berkelanjutan Indonesia) 3, no. 2 (July 9, 2020): 204. http://dx.doi.org/10.32493/jabi.v3i2.y2020.p204-221.
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Credit scoring is a tool for predicting the financial risk of loan customers and helping banks in analyzing new loans to be provided to customers which is useful for strengthening the credit risk management system. The purpose of this study was to determine how the application of the credit scoring model in mortgage financing or sharia housing in Muamalat banks and to determine the factors that influence murabahah financing Non Performing Financing (NPF). The research method used is descriptive research and quantitative research. The results of the first part of the study indicate that the credit scoring model has become a explanatory variable or potential indicator that has been used by Muamalat banks since 2013 in making mortgage loan decisions. There are 12 assessment parameters based on risk weights in them. The results of the second part of the study show that the rupiah exchange rate has a positive effect on NPF of murabahah financing, while inflation and GDP have no effect on the NPF of murabahah financing
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Schneberger, Scott L. "Stater NV: E-Servicing Strategies." Journal of Information Technology 19, no. 2 (June 2004): 108–16. http://dx.doi.org/10.1057/palgrave.jit.2000014.
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After 2 years of on-line experiments, Tom van Vianen, CEO, felt certain it was time to fully implement STATER NV's new ‘e-servicing’ concept with a cohesive strategy. Established in 1997 in The Netherlands and headquartered in Amersfoort, STATER had 27 business clients and serviced over 80 different mortgage portfolios of more than 450,000 mainly residential loans in the Netherlands, Belgium, and Germany. Their mortgage service operations and information systems were considered state-of-the-art in 2002, but they were moving business on-line while simultaneously increasing the types of services provided and expanding operations into Spain, France, and Italy — within the next five years. In a land known for taming the forces of the sea, Tom faced what seemed like a sea of ‘e-uncertainty.’ What exact roles should STATER play in an on-line loan market? How should they position themselves to lead in those roles? The E-Servicing Steering Committee looked to Tom to direct them, and he knew he needed a clear vision for the next Steering Committee meeting in 2 months, in May 2002.
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Leonov, Sergey, and Tatiana Trop. "Retail Bank Lending in the Context of the COVID-19 Pandemic and Sanctions Restrictions: Features of the Russian Far East." Regionalistica 9, no. 6 (2022): 85–97. http://dx.doi.org/10.14530/reg.2022.6.85.
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In the context of the pandemic of the new coronavirus infection (COVID-19) and the aggravation of the sanctions burden caused by the special military operation of the Russian Federation in the territories of Ukraine, the Donetsk People’s Republic and the Lugansk People’s Republic, household lending was at particular risk. The article examines the dynamics and structure of lending to individuals for 2015–2022 both in Russia as a whole and on the example of a large macroregion, which is the Russian Far East. To identify statistical patterns, general scientific methods based on official statistics published by the Bank of Russia were used. It is shown that in the Far East, as well as in the country as a whole, both segments of retail lending (mortgage and consumer loans) reacted negatively to the «pandemic» crisis of 2020 (April) and to the «sanctions» crisis of 2022 (March – April), but the severity of the reaction was different. The main factor in the decline in retail lending in April 2020 was the fall in consumer lending, the same factor explained the fall in retail lending by 100% in March 2022, but in April 2022, 90% of the fall in retail lending was explained by the decline in mortgage housing lending. Thanks to the reduction by the Bank of Russia of the key rate and, accordingly, the weighted average rates of bank lending, the provision of credit holidays, mass refinancing and restructuring of loans, the Russian government managed to dampen the impact of shocks on the parameters of the Far Eastern retail credit market. As a result, in 2020–2021, the volume of lending to the population of the Far East increased by 54.9% (compared to an increase of 48.5% in the Russian Federation as a whole), while the share of overdue loans in the Far Eastern subjects of the Russian Federation was not only lower than the average Russian indicator, but also decreased faster
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Szabó, András Viktor. "Credit Risk Modelling of Mortgage Loans in the Supervisory Stress Test of the Magyar Nemzeti Bank." Financial and Economic Review 21, no. 1 (2022): 56–94. http://dx.doi.org/10.33893/fer.21.1.56.
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The study aims to develop a model that can estimate potential credit risk losses for housing and home equity loans using both macro and micro data, can be applied uniformly to all banks and takes into account the new accounting standards (IFRS 9). The model is based on a deal-level database for several Hungarian credit institutions, covering an entire business cycle (2004–2018). It uses economic indicators that strengthen risk sensitivity while also including transaction characteristics that mitigate procyclicality. Modelling in a two-step process allows risk groups to be created during forecasting in accordance with various credit characteristics. The results show that the evolution of employment has a stronger effect on riskier groups which potentially have only ad-hoc employment, while net wealth was not even among the explanatory variables for the group containing the best debtors, who presumably rely more on stable earned income.
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Schäfer, Hans-Bernd, and Alexander J. Wulf. "Premature repayment of fixed interest mortgage loans without compensation, a case of misguided consumer protection in the EU." European Journal of Law and Economics 53, no. 2 (January 4, 2022): 175–208. http://dx.doi.org/10.1007/s10657-021-09719-0.
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AbstractConsumer protection shifts risks from consumers to businesses. This raises marginal costs and equilibrium prices. It is justified when markets are not strong enough to allocate contractual risks or accident risks efficiently, especially in cases of severe asymmetric information between suppliers and consumers. Consumer protection can then increase the consumer’s expected welfare from a contract. We test these considerations in a theoretical and empirical study on consumers' right to early repayment of mortgage loans without damage compensation to the creditor in the European Union. We show in a formal model that such a right can lead to an impairment of consumer welfare, compared with the traditional rule of expectation damages for breach of contract. This applies if the consumer is risk averse and repays a loan with a high interest rate in a low interest period to take up a new loan for the same project at lower interests. From a theoretical point of view, this right has no solid economic underpinning, if it is not restricted to cases of personal hardship of the consumer and serves an insurance purpose. We present empirical evidence supporting this argument. In a panel study on monthly mortgage interest rates of 23 EU Member States between 2005 and 2017 we show how interest rate spreads change with the level of consumer protection.
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McLanahan, Jeremiah. "A Law and Behavioural Economics Analysis of High-Cost Lending in New Zealand." Victoria University of Wellington Law Review 52, no. 2 (September 21, 2021): 373–412. http://dx.doi.org/10.26686/vuwlr.v52i2.7124.
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The most interesting recent developments in economics have come from behavioural economics, which attempts to model how people will behave in real life situations. The insights offered by behavioural economics can also be applied to law. This article discusses law and behavioural economics generally, and then applies it to the New Zealand high-cost loan industry. The high-cost loan industry is responsible for a great deal of harm in New Zealand, and in 2019 Parliament passed sweeping amendments to the Credit Contracts and Consumer Finance Act 2003 to insulate consumers from that harm. Law and behavioural economics suggest alternative strategies to those amendments that can address the harms while retaining the benefits that high-cost loans can provide. This article designed an experimental survey to test one such strategy, and the results and implications for policy are discussed.