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Working Paper 02-2: Alternative Methods of Increasing the Precision of Weighted Repeat Sales House Prices Indices
This paper discusses alternative methods of increasing the precision of weighted repeat sales house price indices. Evidence is found that adding the dimensions of price tiers and asymmetry to the variance estimate has merit and does affect the estimated index as well as homeowner equity estimates...
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Working Paper 02-1: Patterns of Default and Prepayment for Prime and Nonprime Mortgages
Using data from Fannie Mae and Freddie Mac, this paper estimates a competing risks proportional hazard model popularized by McCall (1996). The analysis examines the performance 30-year fixed rate mortgages from February 1995 to the end of 1999 and compares nonprime and prime loan default and...