Journal Article
Prepayment penalties on subprime mortgages
Abstract: As a result of the subprime mortgage mess, prepayment penalties are under close scrutiny. While these, like other kinds of contract terms, can be abused, there are good reasons for why they exist. In principle, they serve to extend credit to a greater number of borrowers.
Keywords: Mortgage loans; Prepayment of debts;
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https://www.clevelandfed.org/publications/economic-commentary/2007/ec-20070901-prepayment-penalties-on-subprime-mortgages
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Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2007
Issue: Sep
Order Number: 1