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Federal Reserve Bank of St. Louis
The Regional Economist
Europe may provide lessons on preventing mortgage defaults
Juan Carlos Hatchondo
Leonardo Martinez
Juan M. Sánchez
Abstract

During the last global recession, house prices fell in some European countries almost as much as in some U.S. states. However, mortgage defaults occurred at a much lower rate in Europe. The authors say the difference might be explained by two regulations that apply in Europe but are used on a limited or much less restrictive basis in the U.S.


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Juan Carlos Hatchondo & Leonardo Martinez & Juan M. Sánchez, "Europe may provide lessons on preventing mortgage defaults" , Federal Reserve Bank of St. Louis, The Regional Economist, issue July, 2013.
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Keywords: Europe ; Mortgage loans ; Default (Finance)
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