Research Report Measuring Mortgage Credit Availability Using Ex-Ante Probability of Default
Wei Li, Laurie Goodman
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The Housing Finance Policy Center’s new measure of credit availability – the HCAI – improves upon existing measures of credit availability by calculating with great specificity how much actual risk the market is taking at any given point in time. The HCAI is extremely robust and objective and produces intuitive results because it takes several borrower’s characteristics as well as loan characteristics into account and is weighted for the likelihood of economic downturns. It is also completely transparent.
Research Areas Housing finance
Tags Credit availability
Policy Centers Housing Finance Policy Center