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Mortgage Fraud, 2007.
An analysis of the implications of mortgage and title fraud and legislation to attempt to prevent it.
793 words (approx. 3.2 pages), 5 sources, MLA, £ 19.95
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Abstract
This paper discusses mortgage and title fraud. It discusses a 2005 Ontario Court of Appeal decision regarding fraudulent mortgages and its implications. The paper then looks at who the victims are in mortgage fraud. It examines the pending legislation of the Ontario government which will attempt to address some of the problems involved in mortgage and title fraud. Finally, it looks at how property owners may protect themselves through title fraud insurance.
From the Paper
"However, this proposed action plan is not the proper solution to this problem. In effect, while mortgage and title fraud has always been a problem, the current crisis relates directly to the Ontario Court of Appeals ruling in 2005 that judged fraudulent claims to be legally valid. In fact, the proposed Bill 152 does not address this issue but only restores title to the real owner but leaves him/her responsible for the fraudulent mortgage (Aaron). Clearly, the Ontario government is responding to public concern in this area, and the possibility that the Court will not - in its review of its earlier decision - be willing to admit that it made a mistake and reverse this precedent-setting ruling. I would argue that if banks were legally responsible for the mortgage, they would have the incentive for greater diligence than they are currently exercising. Thus, it would be more legally and economically efficient if this situation is resolved through the legal system that exacerbated the problem."
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Mortgage Fraud, 2004.
This paper discusses the history and problems of mortgage fraud.
8,060 words (approx. 32.2 pages), 16 sources, APA, £ 120.95
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Abstract
This paper explains that many independent studies have shown that the majority of consumers targeted by predatory lenders are minorities or in a lower income bracket: Fraud seems to target those who can least afford to survive it. The author points out perhaps it is because fraud is so pandemic in the industry today that less is being done to combat fraud than one might expect. Mortgage companies frequently fail to report fraud, and when they do, it is frequently put on hold by law enforcement. The paper states that change will only come when systematic changes are made to the structure of the system. Dishonest lending and borrowing have always plagued humankind, so it would be overly optimistic to hope for a solution. Extensive end-note information.
Table of Contents
The Dead Pledge Heritage: Are Mortgages Inherently Susceptible to Dishonesty?
The New Big Deal: Modern Mortgages and the Road to Fraud
How Loans Are Open for Fraud
How Fraud Works In the Real (Financial) World
Regulations: Attempts, Concerns, and Failures
Conclusions
From the Paper
"Not incidentally, though, this government move was at least partly in response to a significant issue in America with predatory lending. Prior to the founding of the FHA, the American mortgage industry had already gotten its start. ?And, it wasn't banks ...it was insurance companies. These daring insurance companies did it, not in the interest of making money through fees and interest charges, but in the hopes of gaining ownership of properties if the borrower failed to make the payments on it.... the repayment schedule was spread over three to five years and ended with a balloon payment. ? It was the FHA that started the amortization of loans so that indebtedness could decrease over time. They also instituted practices of lending based on ability to repay the loan, judging the quality of the property involved before making the loan, and expanded loan terms so that they could be feasibly repaid (instituting seven, fifteen, and thirty year loans). The government pushed extensively in this years to create fair, non-predatory lending situations."
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Mortgage Rates and Loan Limits, 2002.
This study investigates the effects of programs dealing with risk-based pricing and increased mortgage loan limits on mortgage approval rates for low- and moderate-income households.
15,515 words (approx. 62.1 pages), 48 sources, APA, £ 172.95
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Abstract
The in-depth research performed for the study finds that risk-based pricing policies had a positive impact on the extension of residential mortgages to low- and moderate-income applicants making less than $35,000 annually, in that rejection rates associated with risk-based factors declined. The research also finds that higher mortgage limit policies had a positive impact on the extension of residential mortgages to low- and moderate-income applicants making less than $35,000 annually, in that rejection rates associated with risk-based factors declined. Lastly, the research results indicate that higher mortgage limit policies had a greater positive impact than did risk-based pricing policies.
The findings that both risk-based pricing policies and higher mortgage limit policies have positive impacts on the extension of residential mortgages to low- and moderate-income applicants making less than $35,000 annually, also showed that mortgage approval rates for this group actually declined over the period of analysis. The implication of these findings considered together is that other problems exist that have led to the rejection of low- and moderate-income applicants making less than $35,000 annually, for residential mortgages.
The major conclusion drawn from the findings of this study is that adherence to risk-based pricing policies and increased mortgage loan limit policies by conventional lenders is more show than real, as the aggregate approval rate among conventional lenders actually declined from 1990 to 1999. Thus, it appears that conventional lenders have found new reasons to reject low- and moderate-income applicants making less than $35,000 annually, while publicly adhering to the new policies intended to broaden access to mortgage lending for these applicants.
TABLE OF CONTENTS
1 - Introduction
Problem Statement
Study Purpose
Research Questions & Hypotheses
Significance of the Study
Definitions of Terms
Delimitations of the Study
Overview of the Remainder of the Study
2 ? Review of the Literature
Systems Theory
Systems Theory and the Mortgage Lending Model
Mortgage Lending Markets
Past Discrimination in Mortgage Lending
Summary
3 ?Methodology
Research Design
Research Hypotheses
Variables and Operational Definitions
Data Collection
Data Analysis
Methodological Limitations
Summary
4 ?Results
Restatement of the Research Questions
Restatement of the Hypotheses
Research Results
5 ? Summary, Discussion and Conclusions
Discussion
Conclusions
Appendix: Data Tables
Bibliography
From the Paper
"The effort to improve accessibility to residential mortgage finance for low- and moderate-income individuals and families making less than $35,000 annually, tends to be impeded by a system that has become entrenched. This existing system is an interlocking structure of public and private sector players that has developed rules and processes with which they are comfortable and which they are reluctant to change. The existing system for the extension of residential mortgages also involves both the primary and the secondary mortgage markets, as well as credit review and reporting agencies. The system in place was never intended to provide access to residential mortgages to low- and moderate-income persons making less than $35,000 annually, except within the framework of specific governmental programs targeting such individuals. These specific programs involved direct public funding, government guaranteed repayment of loans extended by private sector lenders, or subsidies to developers and builders."
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Mortgage Approval Rates for Low and Moderate Income Households, 2002.
Researches the performance of federal mortgage lending agencies and conventional lenders in relation to both risk-based pricing policies and higher mortgage loan limit policies.
1,549 words (approx. 6.2 pages), 20 sources, MLA, £ 34.95
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Abstract
This study investigated the effects of programs dealing with risk-based pricing and increased mortgage loan limits on mortgage approval rates for low- and moderate-income households. The research performed for the study found that risk-based pricing policies did have a positive impact on the extension of residential mortgages to low- and moderate-income applicants, in that rejection rates associated with risk-based factors declined. The research performed also found that higher mortgage limit policies had a positive impact on the extension of residential mortgages to low- and moderate-income applicants, in that rejection rates associated with risk-based factors declined. Lastly, the research results indicated that higher mortgage limit policies had a greater positive impact than did risk-based pricing policies.
Table of Contents
Introduction
Problem Statement
Research Questions
Study Purpose
Significance of the Study
Definitions of Terms
Delimitations of the Study
Overview of the Remainder of the Study
Review of the Literature
Systems Theory
Systems Theory and the Mortgage Lending Model
Mortgage Lending Markets
Past Discrimination in Mortgage Lending
Summary
Methodology
Research Design
Research Hypotheses
Variables and Operational Definitions
Data Collection
Data Analysis
Methodological Limitations
Summary
Results
Problems with the Data
Restatement of the Research Questions
Restatement of the Hypotheses
Restatement of Operational Definitions
Restatement of Data Analysis Procedures
Research Results
Summary, Discussion and Conclusions
Discussion
Conclusions
Appendix: Data Tables
Bibliography
From the Paper
"The effort to improve accessibility to residential mortgage finance for low- and moderate-income individuals and families tends to be impeded by a system that has become entrenched. This existing system is an interlocking structure of public and private sector players that has developed rules and processes with which they are comfortable and which they are reluctant to change. The existing system for the extension of residential mortgages also involves both the primary and the secondary mortgage markets, as well as credit review and reporting agencies. The system in place was never intended to provide access to residential mortgages to low- and moderate-income persons except within the framework of specific governmental programs targeting such individuals. These specific programs involved direct public funding, government guaranteed repayment of loans extended by private sector lenders, or subsidies to developers and builders."
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Programs to Overcome Mortgage Lending Discrimination, 2002.
This paper investigates the effects of programs dealing with risk-based pricing and increased mortgage loan limits on mortgage approval rates for low- and moderate-income households.
16,414 words (approx. 65.7 pages), 42 sources, MLA, £ 172.95
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Abstract
The paper provides in-depth research into two programs introduced in the 1990s to improve accessibility to residential mortgage finance for low- and moderate-income individuals. The paper finds that risk-based pricing policies have a positive impact on the extension of residential mortgages to borrowers with annual income less than $35,000. It also discovers from the study that higher mortgage limit policies have a positive impact on the extension of residential mortgages to low- and moderate-income applicants.
Table of Contents
Introduction
Problem Statement
Study Purpose
Research Questions & Hypotheses
Significance of the Study
Definitions of Terms
Delimitations of the Study
Overview of the Remainder of the Study
Review of the Literature
Systems Theory
Systems Theory and the Mortgage Lending Model
Mortgage Lending Markets
Past Discrimination in Mortgage Lending
Summary
Methodology
Research Design
Research Hypotheses
Variables and Operational Definitions
Data Collection
Data Analysis
Methodological Limitations
Summary
Results
Restatement of the Research Questions
Restatement of the Hypotheses
Research Results
Summary, Discussion and Conclusions
Discussion
Conclusions
Appendix: Data Tables
Bibliography
From the Paper
"The major conclusion drawn from the findings of this study is that adherence to risk-based pricing policies and increased mortgage loan limit policies by conventional lenders is more show than real, as the aggregate approval rate among conventional lenders actually declined from 1990 to 1999. Thus, as explained by systems theory, although changes were implemented within a system, the system remained the same and the overall problem continued. It appears that conventional lenders found new reasons to reject low- and moderate-income applicants making less than $35,000 annually, while publicly adhering to the new policies intended to broaden access to mortgage lending for these applicants."
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The Conventional Mortgage Option, 2005.
This paper analyzes the pros and cons of conventional mortgages as an option for businesses to consider when attempting to reduce long-term debt.
1,191 words (approx. 4.8 pages), 2 sources, APA, £ 27.95
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Abstract
This paper defines a conventional mortgage as a long term loan which meets the guidelines put forth by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. This paper details the three types of conventional mortgage options currently available. The first is the fixed rate conventional mortgage, the second is an adjustable rate conventional mortgage while the third is a balloon mortgage. This paper examines the characteristics of the three mortgage options. This paper focuses on the debt problems of a particular hospital while attempting to find the most cost effective mortgage option to reduce said debt. This paper also analyzes the risks involved in securing a conventional mortgage by delving into the various issues surrounding the workings of state and local hospitals. The writer contends and explains why hospitals are generally insecure financial institutions dependent on state budgeting and financing which can and usually are influenced by issues such as changes in the governing party or changes in the state's priorities.
From the Paper
"If we look at these three types of conventional mortgages and the characteristics each bear, as compared to the needs of hospital, the most suitable seem to be the fixed rate conventional mortgage and the balloon conventional mortgage. There are several reasons for this.
First of all, for a hospital, the budget is generally set ahead for a period of several years. In this sense, financial stability and a clear sense of what needs to be made in the next period of time is most important. If we consider the adjustable rate conventional mortgage, for example, it may occur that somewhere in the 10th year, the monthly rate, including interest rate, will suddenly double its value. It is, in this sense, a question of security and risk avoidance."
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The Australian Mortgage Market, 2007.
This paper examines the competitive mortgage market in Australia.
1,413 words (approx. 5.7 pages), 4 sources, MLA, £ 32.95
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Abstract
The paper discusses how the Australian mortgage market is a very competitive market, with many types of financial institutions offering their products to corporate and individual customers. The paper examines the three major sources of commercial mortgage loans that include banks, independent mortgage brokers and banking franchises. The paper explores the availability of commercial loans, types of commercial mortgages and credit costs.
Outline:
Introduction
Market status
Availability of Commercial Mortgages
Types of Commercial Mortgages
Credit Costs of Australian Commercial Mortgages
Conclusions
From the Paper
"The third force of the mortgage market is given by the competition between the loan sources. There are three major sources of commercial mortgage loans: banks, independent mortgage brokers and banking franchises."
"Among the most renowned banks that offer loans for commercial acquisitions are Citibank, ANZ Bank, ING Bank, Australian First Mortgage or IMB Banking and Financial Services, who offer their customers complete service packages from counselling up to credits."
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Mortgage Loan Rates, 2002.
This paper closely studies mortgage loan rates for low- and moderate-income households.
11,592 words (approx. 46.4 pages), 21 sources, MLA, £ 156.95
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Abstract
A variety of factors enter into the determination of whether a residential mortgage will be granted. This paper attempts to evaluate the effects of some of these disparate factors. The writer considers the effects of two policies--risk-based pricing and increased mortgage loan limits--on the mortgage approval rates for low- and moderate-income households.
Table of Contents:
Introduction
Review of Related Literature
Methodology
From the Paper
"Home ownership is a cornerstone of what is referred to as ?the American Dream.? Home ownership, however, has become an increasingly difficult objective to attain for low- and moderate-income families, individuals, and households in the contemporary United States. In response to this problem, federal agencies, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), have developed and implemented programs designed to improve access to residential mortgages for low- and moderate-income families, individuals, and households."
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Mortgage Refinancing, 2004.
A look at what what makes a homeowner decide to refinance his house.
4,400 words (approx. 17.6 pages), 8 sources, APA, £ 79.95
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Abstract
This paper attempts to trace the various issues that influence the homeowner?s decision to refinance. The pros and cons of 30-year mortgage vis-a-vis 15-year mortgage are discussed from different perspectives. From a homeowner?s perspective, the benefits and drawbacks of fixed-rate mortgage and adjustable-rate mortgage are analysed. The pitfalls of mortgage refinancing are also highlighted. Case study analysis of mortgage refinancing is attempted to explain the market dynamics from a practical perspective. The paper also traces the recent trends in mortgage refinancing in leading countries and the various forces that drive the refinancing market
From the Paper
"Mortgage is the loan given by financial institutions or banks for purchase of property in return for interest on the amount loaned. The term ?mort? means dead in French, implying that the borrower will have to kill off the loan, albeit slowly. The loan repayment is spread over a definite period and payment is usually made every month. The lender has the first lien on the property, till such time the loan is repaid. In the US, the common term for mortgage is 30 years, followed by 15-year term. The issue of which option is better is often debated. In strict financial sense, the 15 year option is better as the interest element in the 30 year mortgage, will be substantially higher. However, the 30 year option will mean lower monthly payments, which could mean higher affordability to the borrower."
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Mortgage Rates, 2002.
A predictive forecast of 30-year mortgage interest rates.
2,650 words (approx. 10.6 pages), 10 sources, £ 67.95
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Abstract
An analysis of 30-year mortgage rates, and what the future predictions are for interest rates on these loans. By understanding the methodology for prediction in finding interest rates of this nature, we can see what patterns may shape this analysis
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The Home Mortgage Process, 2002.
Discussion of the way to make the process of obtaining a mortgage for a home mutually satisfying for both the buyer and the lender and anyone else involved in the process.
900 words (approx. 3.6 pages), 5 sources, £ 24.95
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Abstract
Obtaining a mortgage for a home is a fairly complex process, and one that can be very intimidating to the prospective buyers. However, if the buyers work hand-in-hand with lenders and others involved in the process, they will emerge both satisfied and happy.
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Mortgage Rates, 2002.
A forecast of 30-year mortgage interest rates.
2,650 words (approx. 10.6 pages), 10 sources, £ 67.95
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Abstract
An analysis of 30-year mortgage rates, and what the future predictions are for interest rates on these loans. By understanding the methodology for prediction in finding interest rates of this nature, we can see what patterns may shape this analysis.
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The Subprime Mortgage Crisis, 2007.
This paper explains the causes and consequences of the subprime mortgage crisis.
1,783 words (approx. 7.1 pages), 13 sources, MLA, £ 39.95
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Abstract
This paper explains the subprime mortgage crisis in a simplified manner, with the aim of helping people with a weak financial background understand the crisis. The paper clarifies the causes and consequences
of this crisis.
Outline:
Subprime Meltdown
Causes
Consequences
From the Paper
"Subprime mortgages are home loans given to borrowers with poor credit ratings. Credit ratings--basically an evaluation of an individual's ability to pay, and willingness to pay--are used as a basis for a loan's approval or rejection. In the years after 2001, rising real estate prices have encouraged lenders to take in more risks. Until 2007, creditors lent too much money to too many borrowers who did not make enough money to cover the monthly payments. In some instances, lenders did not even verify the borrowers' incomes (Liedtke, 2007).
"Michael Liedtke adds that because most subprime mortgages carried artificially low interest rates during the first few years of the loan, it took a while for the problems to surface. When home prices stopped rising after 2005, refinancing became a problem for subprime borrowers because of the resulting lower equity."
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Monetary Policy in the Mortgage Business, 2004.
A description of the mortgage company, J.P. Morgan Chase, and identification of some economic indicators that affect the company.
1,643 words (approx. 6.6 pages), 5 sources, MLA, £ 36.95
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Abstract
This paper examines how monetary policy refers to the actions commenced by a central bank called the Federal Reserve (FED) that was established to influence the availability and cost of money and credit to help promote national economic goals. It also looks at how J. P. Morgan Chase is a leading global financial services firm with operations in more than 50 countries and how the firm has five business segments that include investment banking, investment managing, private banking, treasury and securities services, and Chase Financial Services. It analyzes how all five segments are affected by actions taken by the FED and how mortgage rates, the CPI, PPI, employment, finished goods index, consumer credit data, housing starts, growth and sales, and disposable personal income are all economic indicators in the industry.
From the Paper
"According to the Bureau of Labor Statistics, Finished Goods are defined as commodities that are ready for sale to the final-demand user, either an individual consumer or a business firm. In national income accounting terminology, the Finished Goods Price Index roughly measures changes in prices received by producers for two portions of the gross national product: (1) Personal consumption expenditures on goods, and (2) capital investment expenditures on equipment. The Finished Goods Less Food and Energy Index excludes volatile food and energy prices and is sometimes referred to as the core PPI. Other stages of processing in this classification scheme include Intermediate materials, supplies and components and crude materials for further processing."
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