000			01546naa a2200193uu 4500
001			8451
003			OSt
005			20190211154452.0
008			021120s2005 xx ||||gr |0|| 0 eng d
100	1		_aBLACKMAN, Allen _91189
245	1	0	_aLocation-Efficient Mortgages : _bis the rationale sound?
260			_c2001
520	3		_aLocation efficient mortgage (LEM) programs are an increasingly popular approach to combating urban sprawl. LEMs allow families who want to live in densely populated, transit-rich communities to obtain a larger mortgage with a smaller down payment than traditional underwrinting guidelines allow. LEMs are premised on the proposition that homeowners in such "location-efficient" areas can safely be allowed to breach underwriting guidelines designed to prevent mortgage default because they have lower that average automobile-related transportation expenses and more income available for mortgage payments. This paper employs records of more than 8000 FHA-insured mortagages matched with data on various measures of locatio efficiency to test this proportion. The results suggest that it does not hold and that LEMs - like other low-down-payment mortgage programs - will raise mortgage default rates. This cost must be weighed against any potential anti-sprawl benefits LEMs may have
700	1		_aKRUPNICK, Alan _917755
773	0	8	_tJournal of Policy Analysis and Management _g20, 4, p. 633-649 _d, 2001 _w
942			_cS
998			_a20021120 _bCassio _cCassio
998			_a20060616 _b1707^b _cQuiteria
999			_aConvertido do Formato PHL _bPHL2MARC21 1.1 _c8596 _d8596
041			_aeng