| mortgage {SortedEffects} | R Documentation |
Mortgage Denial
Description
Mortgage Denial
Usage
mortgage
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
- 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
- condo
indicator for unit is a condominium
- 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.