1. Emotional Value" compared to other types of buyers; and b) more of subprime homeowners' networth was in the form of homeequity; c) and hence, such "sub-prime" homeowners were more willing to inflate housing prices. Lenders provided various rationales for continued sub-prime lending, despite the known inherent risks. The primary justifcations were that annual default rates on sub-prime mortgages;mortgages were first-time home-owners, and hence, a) their homes had more
2. 362-389. (noting significant negative externalities of subprime mortgages);Journal Of Real Estate Finance & Economics,2005
3. Predatory Lending in Oregon: Does Oregon Need an Anti-Predatory Lending Law, or Do Current Laws and Remedies Suffice ?;Still Mortgaging the American Dream: Predatory Lending, Preemption, and Federally-Supported Lenders,2003
4. Preemption, Agency Cost Theory, And Predatory Lending By Banking Agents: Are Federal Regulators Biting off More Than They Can Chew ?;New Jersey's Model Response To Predatory Lending: The Homeownership Security Act of 2002. Working Paper,2003