Subprime Housing Loans Case Study Example | Topics and Well Written Essays - 1000 words

Subprime Housing Loans - Case Study Example The data sources will come from six sets of data. The aim of the data is to construct a set of borrower characteristics, loan characteristics, property characteristics, lender characteristics and macroeconomic variables. The first data series is the Home Mortgage Disclosure Act (HMDA) data from 2000 to 2007. The aim is to obtain individual loan level data (such as whether a loan is being accepted or rejected, loan amount, income, race and gender of the borrower, etc). The HMDA data is also used to derive measures of lender characteristics, the Herfindahl-Hirschmann Index of the Census tract and whether the lender is a bank. The second data set is the Department of Housing and Urban Development's (HUD) list of lenders that specialize in the subprime market to code each loan as being subprime or not. The thirda data set is the U.S. Census data to derive Census tract level demographic, property and borrower characteristics. The Census data is matched to HMDA by state, county and Census tract number. The fourth data set is from a major credit bureau for tract median FICO score (MEDFICO) and debt-to-income ratio (DTI), which are widely accepted borrower risk variables used by mortgage bankers and brokers in their lending decision. The credit bureau data is also matched to HMDA data by state, county and Census tract number. ... The first data series is the Home Mortgage Disclosure Act (HMDA) data from 2000 to 2007. The aim is to obtain individual loan level data (such as whether a loan is being accepted or rejected, loan amount, income, race and gender of the borrower, etc). The HMDA data is also used to derive measures of lender characteristics, the Herfindahl-Hirschmann Index of the Census tract and whether the lender is a bank. The second data set is the Department of Housing and Urban Development's (HUD) list of lenders that specialize in the subprime market to code each loan as being subprime or not. The thirda data set is the U.S. Census data to derive Census tract level demographic, property and borrower characteristics. The Census data is matched to HMDA by state, county and Census tract number. The fourth data set is from a major credit bureau for tract median FICO score (MEDFICO) and debt-to-income ratio (DTI), which are widely accepted borrower risk variables used by mortgage bankers and brokers in their lending decision. The credit bureau data is also matched to HMDA data by state, county and Census tract number. Fifth, I match the House Price Index (HPI) data from the Office Federal Housing Enterprise Oversight (OFHEO) to HMDA data by year and Metropolitan Statistical Area (MSA). This data is used to construct neighborhood house price appreciation rate, which is used to calculate the loan-to-value ratio (LTV). The sixth data set is the macroeconomic data from the Federal Reserve Bank of San Francisco to control for macroeconomic risk.The methodology to be used is the single equation Probit regression.

This house support mandatory vaccinations Essay Example | Topics and Well Written Essays - 500 words

This house support mandatory vaccinations - Essay Example This is where the government steps in with the interests of the general well being of the citizens in heart. Citation: Collier in his book ‘Vaccines’, 2004, explains that vaccines work to prime the immune system against future attacks by a particular disease. This disease could be either viral, bacterial, or any other disease causing agents. When a pathogen enters the body, the immune system generates antibodies to try to fight it off. In case of exposure to the same pathogen in the then or in the future, the antibodies will recognize it and fight it off. Interpretation: This is to mean that the individual has immunity against the disease he or she is vaccinated against. This is good since exposure to a disease common in a particular area means that he or she will not get infected therefore preventing its spread. Citation: Merino’s book ‘Should Vaccinations be Mandatory’ clearly states that the risks of natural infection outweigh those of immunization for each recommended vaccine. An example; a wild measles infection causes inflammation of the brain for 1 in every 1,000 infected persons. In general, measles infection results in the death of 2 out of every 1,000 infected persons. However, the combination of measles, mumps, and rubella vaccine results in a severe allergic reaction only once in every million vaccinated persons at the same time preventing the spread and infection of measles. Evidence: With the global air travel increasing, there is an equal rise in the risk of exposure to infectious diseases abroad. Other travelers transmit and disseminate disease like in the case of polio and the dispersal of meningococcal strains by the returning pilgrims from Saudi Arabia. In the case of the Muslim Hajj, local authorities require vaccination from this disease and other forms of vaccinations like influenza and hepatitis B, for pilgrims. Citation: