Does homeownership counseling affect the prepayment and default behavior of affordable mortgage borrowers?

The lack of industrywide data on homeownership education and counseling (HEC) programs has severely limited evaluation. In particular, very little evidence exists on the relationship between HEC completion and loan prepayment, an outcome of interest to both mortgage lenders and consumer advocates. Where mortgage prepayment directly influences the sustainability of affordable mortgage products, it also reflects the ability of underserved borrowers to access lower‐cost credit through refinancing. This study uses a uniquely rich data set to examine the impact of HEC completion on prepayment and defaultamongborrowers receivingHECfrom a variety of providers across 42 states. The loans, originated between 1999 and 2003, are observed through the first quarter of 2006, a period in which strong housing appreciation and decreasing interest rates generated substantial refinancing activity. Using a competing risks model of mortgage prepayment and default, we find that HEC programs based on classroom instruction and individual counseling improve a borrower's exercise of the mortgage prepayment option, but that programs based on home study or telephone counseling did not affect borrower behavior. Counseling shows no effect on default propensities. © 2008 by the Association for Public Policy Analysis and Management.     

Living Near Violence and Feeling Safe: What is the Role of Active Guardianship in the Home Territory?

Journal of Quantitative Criminology - Living in close proximity to recent, violent crime may undermine sense of safety in the home territory by increasing perceived crime risk. Yet it is also...     

Reviews

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Karen Dawisha, The Kremlin and the Prague Spring. Berkeley: University of California Press, 1984, xiv + 426 pp. £22.50.

Christer Jônsson, Superpower: Comparing American and Soviet Foreign Policy. London: Francis Pinter, 1984, viii + 248 pp. £18.50.

Joseph Nye, The Making of America's Soviet Policy. Yale University Press, 1984, £20.00.

Alexander Dallin, Black Box: KAL 007 and the superpowers. Berkeley and Los Angeles: University of California Press, 1985, xii + 130 pp. £14.25.

Alex Kozulin, Psychology in Utopia. Toward a Social History of Soviet Psychology, Cambridge Massachusetts, London: The MIT Press, 1984, xi + 179 pp. £16.65.

Timothy Edward O'Connor, The Politics of Soviet Culture. Anatolii Lunacharskii. Ann Arbor: UMI Research Press, and London: Bowker Publishing Company, 1984,193 pp. £35.50.

Alexander Vucinich, Empire of Knowledge. The Academy of Sciences of the USSR (1917–1970). Berkeley and London: University of California Press, 1984, x + 484 pp. £23.95

Lawrence Badash, Kapitza, Rutherford, and the Kremlin. New Haven and London: Yale University Press, 1985, xi + 129 pp. £20.00.

Mark Popovsky, The Vavilov Affair. Archon, Hamden, Connecticut, 1984, viii + 216 pp. £21.40.

Timothy Dunmore, Soviet Politics 1945–53 London: Macmillan Press Ltd., 1984, vi + 167 pp. £20.00.

George Ginsburgs, The Citizenship Law of the USSR, Law in Eastern Europe No. 25 (general editor F. J. M. Feldbrugge). The Hague, Boston, Lancaster: Martinus Nijhoff Publishers, 1983, 406 pp. £50.00.

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Michael Haynes, Nikolai Bukharin and the Transition from Capitalism to Socialism, Beckenham, Kent: Croom Helm Ltd., 1985, vii + 136 pp. £14.95.

Bernd Bonwetsch (ed.), Zeitgeschichte Osteuropas als Methoden‐ und Forschungsprob‐lem. Osteuropaforschung: Schriftenreihe der Deutschen Gesellschaft fur Osteuropa‐kunde, Band 13. Berlin: Verlag Arno Spitz, 1985, 192 pp. DM 28,00.

Marie Lavigne, Economie Internationale des pays Socialistes, Paris: Armand Colin, 1985, 255 pp.

Marcel Drach, La crise dans tes pays de l'Est, Paris: Editions La Découverte, 1984, 127 pp. FF. 31.

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Michael Shafir, Romania: Politics, Society and Economics, London: Frances Pinter, 1985, xvii + 232 pp. h/b £18–50, p/b £6.95.

Nicholas G. Andrews, Poland 1980–81. Solidarity versus the Party, Washington: National Defense University Press, 1985, xii + 351 pp.

Peter Raina, Poland 1981. Towards Socialist Renewal, London: George Allen & Unwin, 1985, vii + 472 pp. £20.00.

Stephen D. Kertesz, Between Russia and the West: Hungary and the Illusions of Peacemaking 1945–1947, London and Notre Dame: University of Notre Dame Press, 1985, xix + 299 pp. £18.95.

Mårta‐Lisa Magnusson (ed.), Bogen i Sovjet. Fra forfatter til laeser, Esbjerg: Sydjysk Universitetsforlag, 1985, 106 pp. p/b, 74–75 DK Kr.

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中印关系的进展、认知与和平前景

中印两国政府希望加强双边关系.本文旨在评估政府的这种热情能否对两国大众、政治参与者以及专家间的相互认知产生积极的影响.通过对民意调查、出版物和官方文件的分析,发现事实并非如此.两国问的相互认知明显地表现为矛盾心理和不信任情绪.     

危险的顺耳之言

我们到处寻找安慰,尤其是在股市动荡的年月,比如2007年。但这种寻求安慰的过程却可能将我们引入歧途我们要讨论的问题是一种被称为“确认偏误”(confirmation bias)的行为现象。我们总认为自己能理性地看待世界,衡量各种因素,得出理性的结论。但实际上,我们都有自己认定的东西——而且我们紧紧抓住支持这种信念的信息,同时对不同意见和相互矛盾的证据却不屑一顾。“确认偏误具有很强的渗透性,能够潜移默化地影响人们的     

Sa-Skya Pandita’s Buddhist Argument For Linguistic Study

Journal of Indian Philosophy -     

Baker & McKenzie''s regular article tracking developments in EU law relating to IP, IT & telecommunications

This is the latest edition of Baker & McKenzie's column on developments in EU law relating to IP, IT and telecommunications. This article summarises recent developments that are considered important for practitioners, students and academics in a wide range of information technology, e-commerce, telecommunications and intellectual property areas. It cannot be exhaustive but intends to address the important points. This is a hard copy reference guide, but links to outside web sites are included where possible. No responsibility is assumed for the accuracy of information contained in these links.     

Allocating specific benefits and burdens

Conclusion The foregoing is an example of how the rich accounts presented in Local Justice in America can inspire reflections on related issues. I am sure that others who do not share my utilitarian beliefs (some would call them “biases”) would find other ways of looking at these chapters. Whatever the perspective taken, the book raises important questions, and its emphasis on describing intentional rules is a useful approach for the social sciences. A single book cannot do everything, but I wish that this one had also taken a more evaluative point of view, telling us not just how decisions are made but also where they are going wrong according to some explicit standard, and how to improve them. I am sure that even that is considered arrogant by some, but to me it is the ultimate purpose of social science.     

Data Protection: An Opening Door?

Swedish public law has incorporated a general rule of public access to documents, and to information in the wider sense, since the Freedom of the Press Act of 1766. On the Community level, the relationship between Regulation (EC) 45/2001 on data protection and Regulation (EC) 1049/2001 on public access to documents exemplifies the tension between the public's interest in scrutinising the administration carried on in its name, and the integrity of the individual. However, a similar tension exists between Sweden's Personal Data Act of 1998, implementing Directive 95/46, and the Freedom of the Press Act. A misuse model of data protection law, by seeking to concentrate on serious rather than technical infringements of privacy, might serve to ease the tension. The views expressed in this article are solely those of the author and are not attributable to any Community institution. This revised version was published online in August 2006 with corrections to the Cover Date.