mortgage: Mortgage Denial

Description Usage Format Source

Description

Mortgage Denial

Usage

1

Format

Contains the data on mortgage application in Boston from 1990 (Munnell et al., 1996). We obtain the data from the companion website of Stock and Watson (2011). The file contains the following variables:

deny

indicator for mortgage application denied

p_irat

monthly debt to income ratio

black

indicator for black applicant

hse_inc

monthly housing expenses to income ratio

loan_val

loan to assessed property value ratio (not used in analysis)

ccred

consumer credit score with 6 categories (1 if no "slow" payments or delinquencies, 2 if one or two "slow" payments or delinquencies, 3 if more than two "slow" payments or delinguencies, 4 if insufficient credit history for determination, 5 if delinquent credit history with payment 60 days overdue, and 6 if delinquent credit history with payments 90 days overdue.)

mcred

mortgage credit score with 4 categories (1 if no late mortgage payments, 2 if no mortgage payment history, 3 if one or two late mortage payments, and 4 if more than two late mortgages payments)

pubrec

indicator for any public record of credit problems (bankruptcy, charge-offs, collection actions)

denpmi

indicator for applicant applied for mortgage insurance and was denied

selfemp

indicator for self-employed applicant

single

indicator for single applicant

hischl

indicator for high school graduated applicant

probunmp

1989 Massachusetts unemployment rate in the applicant's history (not used in analysis) condo indicator for unit is a condominium (not used in analysis)

ltv_med

indicator for medium loan to property value ratio [.80, .95]

ltv_high

indicator for high loan to property value ratio >.95

Source

Munnell, Alicia, Geoffrey Tootell, Lynn Browne, and James McEneaney, "Mortgage Lending in Boston: Interpreting HMDA Data", The American Economic Review, 1996.


yuqimemeda/SortedEffects documentation built on May 23, 2019, 9:51 a.m.