Determinants of the Closing Probability of Residential Mortgage Applications

After allowing applicants to "lock" the interest rate, mortgage originators are concerned with protecting themselves from adverse outcomes due to interest-rate changes. One may expect applicants would strive to close applications when rates rose, while letting themselves fall out when rates decline. Our results show that applicant response to interest-rate changes and volatility are modest. The most important predictor of closing probability is the length of the lock period, with shorter locks being more likely to close. Applications for single-family are more likely to close than are those for multiunit dwellings. Applications for owner-occupied properties are more likely to close than are those for investment properties. Applicant characteristics such as loan affordability, education and age have a small influence on closing rate. Gender has an effect for some loan programs, and marital status appears to be irrelevant. Discount points affect refinance mortgages more than purchase mortgages. Conventional applications are more likely to close than FHA and VA, and applications for refinance, in general, are less likely to close. Results are mixed for ARM and fifteen-year applications, as well as for whether it was the original application, or a relock.

The Influence of Race in Residential Mortgage Closings

This study examines how applicants identified as Asian, Black or Hispanic differ in mortgage closing outcomes compared to the remaining applicants. First, the findings show that minority applicants are somewhat less likely to close a loan for purchase, but equally likely to close a loan for refinance. A more important question this study addresses is whether minority borrowers have less efficient closing outcomes. The findings show no statistical difference between minority and non-minority applicants. This indicates that originators do not demonstrate a ‘‘taste for discrimination’’ by basing their loan approval for minorities on whether the loan can be profitably sold.

The collection of specimens of urine from infants, with observations on renal function in the first two weeks of life

The thesis is divided into three parts and an appendix. Part one is devoted to methods of collecting specimens of urine. Part two is divided into our sections, the first of which offers some evidence of the clinical state of the 63 infants with whom this thesis is mainly concerned. The remaining three sections deal with the establishment of post -natal Penal funetion, the volume of the urinary output, add the frequency of micturition. Part three is devoted. Ito a short consideration of the specific gravity, and the hydrogen ion concentration of the urine, as 'fell as it*'s urea and chloride content. In the appendix will be found the data concerning the urine which has been collected

Natural Radioactive Series Dating of Pleistocene Oceanic Materials

Long sediment cores from the deep ocean can provide a continuous record of sedimentation from the present hack in time, in contrast to the fragmentary record available from the continents. Prom such cores, micropaleontological analysis has established "paleoclimatic" and ''paleotemperature" curves for the Pleistocene epoch, the most recent period of geological time. Elevated fossil coral reefs provide useful cross-correlations for the deep sea stratigraphy, because they may represent warm periods and corresponding high sea stands. Natural series disequilibrium dating is one of the few chronological methods available to define an absolute time scale for the marine record over the past 500,000 years. Most previous dating work has been performed on cores taken from the Caribbean Sea, because of the uniformity of sedimentation in that area. In this study, a time scale is estimated back to 400,000 years B.P. for a long globigerina ooze core from the equatorial Atlantic Ocean. Experimental data from the core indicate that the clay component of sedimentation has been uniform over this period in respect of the natural series parents U238 and Th232. While there is evidence that Ra migrates in the core, and that U234 possibly does, the Th 230/U234 activity ratio shows a regular logarithmic decrease with depth. Sedimentation rates of 2.20+/-0.16 cm./10e3 yr. and 2.32+/-0.17 cm./10e3 yr. are obtained from the (Th230 excess) and (Th230 excess/Th232) methods respectively over the depth interval 25-927 cm. These rates yield ages of 136,000 and 129,000 yr. B.P., and 423,000 and 401,000 yr. B.P. for the important W/X and U/V paleoclimatic boundaries. This is in good agreement with one of the two chronologies presently pronosed. (Pa231 excess) rates of sedimentation over the depth interval 5-185 cm, are consistently higher that (Th230 excess) rates over the same range. While the components of sedimentation fluctuate in this denth interval, calculation shows that (Pa231 excess) is consistently lacking in the core. Ages obtained by the Th230/U234 method for unrecrystallised fossil corals from the Upper Terrace of Aldabra Atoll lie in the range 127,000+/-9,000 yr, B.P., which is synchronous with the last high sea stand. Stratigraphic evidence suggests that the entire present atoll was formed at that time, implying that the fauna and flora have been established in less than 120,000 years

Dahling

I never saw it to fail. Every time we go out, you see Addison Carter and have to run over and lick his hand. I just can\u27t understand why you tag after him like Mary\u27s lamb. Listen, Harry, if he were going to throw any business your way, he would have wound up for the pitch by now. Without too much reflective thought, I can rather easily recall that the only gift he has bestowed upon you was the flu at the lake in 1945

To Split or not to Split

Editorial for New Zealand Studies Vol. 8, No. 2 199

Editorial

Editorial for Stout Centre Review. Vol 1, No 2 (1991)