Variables | Description | Measurement | Mean/ Proportion | Source |
Dependent: | Foreclosure Starts-All Loans | % | 0.73% | MBAa |
| Foreclosure Starts-Prime Loans | % | 0.40% | MBA |
| Foreclosure Starts-Subprime Loans | % | 2.56% | MBA |
Independent: | Pre-Sale Statutory Protections |
|
|
|
ACR | Access to Court Review | 1 = recourse; 0 = non-recourse | 43.1% | NCLCb |
LMRF | Loss Mitigation Requirement before Foreclosure | 1 = statute; 0 = no statute | 15.7% | NCLC |
RCBA | Right to Cure before Acceleration | 1 = statute; 0 = no statute | 23.5% | NCLC |
RRBS | Right to Restate before Sale | 1 = statute; 0 = no statute | 47.1% | NCLC |
PSRCSN | Personal Service Requirement-Complaint/Sale Notice | 1 = statute; 0 = no statute | 33.3% | NCLC |
HEAF | Housing Emergency Assistance Fund | 1 = statute; 0 = no statute | 23.5% | NCLC |
| Post-Sale Statutory Protections |
|
|
|
RTR | Right to Redeem | 1 = statute; 0 = no statute | 41.2% | NCLC |
DJ | Deficiency Judgments | 1 = statute; 0 = no statute | 68.6% | NCLC |
ASP | Accounting of Sales Proceeds | 1 = statute; 0 = no statute | 80.4% | NCLC |
PRS | Prompt Return of Surplus | 1 = statute; 0 = no statute | 31.4% | NCLC |
| Borrower Characteristics |
|
|
|
CreditScore | Average State Credit Score (FICO) | numeric | 683.82 | Experianc |
INCOME | Personal Income (000) | current $ | $36,330 | BEAd |
FEMPCT | Primary Female-Borrowers Loans/Total Loans | % | 7.19% | HMDAe |
WPCT | White-Borrowers Loans/Total Loans | % | 78.52% | HMDA |
BPCT | Black-Borrowers Loans/Total Loans | % | 5.54% | HMDA |
HISPCT | Hispanic-Borrowers Loans/Total Loans | % | 5.14% | HMDA |
ASNPCT | Asian-Borrowers Loans/Total Loans | % | 3.32% | HMDA |
NTVPCT | Native American Borrowers Loans/Total Loans | % | 0.53% | HMDA |
| Mortgage/Lending Characteristics |
|
|
|
NIVPCT | No Income Verfication Loans/Total Loans | % | 1.91% | HMDA |
SPREAD | Loans with Spread/Total Loans | % | 17.10% | HMDA |
NONOCC | Non-Owner Occupied Loans/Total Loans | % | 12.47% | HMDA |
DENPCT | Denial Rate | % | 22.30% | HMDA |
PCTADJ | Adjustable Loans/Total Loans | % | 15.55% | FHFAf |
| Economic Conditions |
|
|
|
DELHPI | Change in House Price Index | % | 3.89% | FHFAf |
UNEMPL | Unemployment Rate | % | 5.44% | BLSg |
NBPERM | Number of Building Permits (000) | numeric | 21800.83 | BPSh |