loanapp

Description

Wooldridge Source: W.C. Hunter and M.B. Walker (1996), “The Cultural Affinity Hypothesis and Mortgage Lending Decisions,” Journal of Real Estate Finance and Economics 13, 57-70. Professor Walker kindly provided the data. Data loads lazily.

Usage

data('loanapp')

Format

A data.frame with 1989 observations on 59 variables:

• occ: occupancy

• loanamt: loan amt in thousands

• action: type of action taken

• msa: msa number of property

• suffolk: =1 if property in suffolk co.

• appinc: applicant income, $1000s

• typur: type of purchaser of loan

• unit: number of units in property

• married: =1 if applicant married

• dep: number of dependents

• emp: years employed in line of work

• yjob: years at this job

• self: =1 if self employed

• atotinc: total monthly income

• cototinc: coapp total monthly income

• hexp: propose housing expense

• price: purchase price

• other: other financing, $1000s

• liq: liquid assets

• rep: no. of credit reports

• gdlin: credit history meets guidelines

• lines: no. of credit lines on reports

• mortg: credit history on mortgage paym

• cons: credit history on consumer stuf

• pubrec: =1 if filed bankruptcy

• hrat: housing exp, percent total inc

• obrat: other oblgs, percent total inc

• fixadj: fixed or adjustable rate?

• term: term of loan in months

• apr: appraised value

• prop: type of property

• inss: PMI sought

• inson: PMI approved

• gift: gift as down payment

• cosign: is there a cosigner

• unver: unverifiable info

• review: number of times reviewed

• netw: net worth

• unem: unemployment rate by industry

• min30: =1 if minority pop. > 30percent

• bd: =1 if boarded-up val > MSA med

• mi: =1 if tract inc > MSA median

• old: =1 if applic age > MSA median

• vr: =1 if tract vac rte > MSA med

• sch: =1 if > 12 years schooling

• black: =1 if applicant black

• hispan: =1 if applicant Hispanic

• male: =1 if applicant male

• reject: =1 if action == 3

• approve: =1 if action == 1 or 2

• mortno: no mortgage history

• mortperf: no late mort. payments

• mortlat1: one or two late payments

• mortlat2: > 2 late payments

• chist: =0 if accnts deliq. >= 60 days

• multi: =1 if two or more units

• loanprc: amt/price

• thick: =1 if rep > 2

• white: =1 if applicant white

Notes

These data were originally used in a famous study by researchers at the Boston Federal Reserve Bank. See A. Munnell, G.M.B. Tootell, L.E. Browne, and J. McEneaney (1996), “Mortgage Lending in Boston: Interpreting HMDA Data,” American Economic Review 86, 25-53.

Used in Text: pages 263-264, 300, 339-340, 624

Source

https://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20b&product_isbn_issn=9781111531041

Examples

 str(loanapp)