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首页> 外文期刊>Journal of Urban Economics >The impact of local predatory lending laws on the flow of subprime credit
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The impact of local predatory lending laws on the flow of subprime credit

机译：当地掠夺性贷款法律对次贷信贷流向的影响

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摘要

Local authorities in North Carolina, and subsequently in at least 23 other states, have enacted laws intending to reduce predatory and abusive lending. While there is substantial variation in the laws, they typically extend the coverage of the Federal Home Ownership and Equity Protection Act (HOEPA) by including home purchase and open-end mortgage credit, by lowering annual percentage rate (APR) and fees and points triggers, and by prohibiting or restricting the use of balloon payments and prepayment penalties. Empirical results show that the typical local predatory lending law tends to reduce rejections, while having little impact on the flow (application and origination) of credit. However, the strength of the law, measured by the extent of market coverage and the extent of prohibitions, can have strong impacts on both the flow of credit and rejections.
机译：北卡罗来纳州以及随后至少其他23个州的地方当局颁布了旨在减少掠夺性和滥用性贷款的法律。尽管法律存在很大差异，但它们通常通过包括购房和开放式抵押信贷，降低年利率（APR）以及费用和积分触发因素来扩展《联邦房屋所有权和权益保护法》（HOEPA）的覆盖范围，以及禁止或限制使用大笔付款和预付款罚款。实证结果表明，典型的地方掠夺性贷款法趋向于减少拒绝，同时对信贷的流动（申请和发起）影响很小。但是，以市场覆盖范围和禁令范围衡量的法律实力可能对信贷流和拒绝流都产生重大影响。

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