The Determinants of Default on Insured Conventional Residential Mortgage Loans
用多项逻辑模型分析有保险住宅抵押贷款违约的决定因素，发现当期还款收入比、贷款价值比和失业率等变量具有统计显著性，对研究违约风险的学者和从业者有参考价值。
ABSTRACT This paper presents empirical evidence on the determinants of default for insured residential mortgages. A multinomial logit model is specified and estimated for regional aggregates constructed from cross sectional and time series data. The results document the independent statistical significance of contemporaneous payment/income and loan/ value ratios and unemployment rates as well as more commonly studied determinants of default such as age and the original loan/value ratio.