skip to content
The New Deal and the origins of the modern American real estate loan contract Preview this item
ClosePreview this item
Checking...

The New Deal and the origins of the modern American real estate loan contract

Author: Jonathan Derek Rose; Kenneth A Snowden; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, ©2012.
Series: Working paper series (National Bureau of Economic Research), no. 18388.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
The introduction of the direct reduction (fully-amortized) loan contract to the U.S. residential mortgage market is an important instance of financial innovation. We describe the adoption of this contract within the building and loan (B & L) industry beginning in the 1880s and culminating in the 1930s. A long chain of complementary innovations at B & Ls gradually reduced the costs of adoption, leading to moderate  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Genre/Form: History
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Jonathan Derek Rose; Kenneth A Snowden; National Bureau of Economic Research.
OCLC Number: 810330050
Notes: Title from http://www.nber.org/papers/18388 viewed September 20, 2012.
"September 2012."
Description: 1 online resource (41 pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 18388.
Responsibility: Jonathan Rose, Kenneth A. Snowden.

Abstract:

The introduction of the direct reduction (fully-amortized) loan contract to the U.S. residential mortgage market is an important instance of financial innovation. We describe the adoption of this contract within the building and loan (B & L) industry beginning in the 1880s and culminating in the 1930s. A long chain of complementary innovations at B & Ls gradually reduced the costs of adoption, leading to moderate use by the 1920s. The poor performance of traditional contracts during the crisis of the 1930s then radically altered the adoption calculus. At this point a new system of federal savings and loan charters incorporated many of the innovations that had been adopted within the small segment of the B & L industry that had introduced direct reduction lending by the 1920s. The B & L transition in mortgage contracts occurred primarily in the conventional loan market because B & Ls, unlike other lenders, generally avoided the use of the new FHA insurance program.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/810330050> # The New Deal and the origins of the modern American real estate loan contract
    a schema:Book, schema:CreativeWork, schema:MediaObject ;
    library:oclcnum "810330050" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/1168155378#Place/cambridge_mass> ; # Cambridge, Mass.
    schema:about <http://id.worldcat.org/fast/1026596> ; # Mortgage loans
    schema:about <http://experiment.worldcat.org/entity/work/data/1168155378#Topic/mortgage_loans_united_states_history> ; # Mortgage loans--United States--History
    schema:about <http://id.loc.gov/authorities/subjects/sh85091258> ; # New Deal, 1933-1939
    schema:about <http://id.worldcat.org/fast/1036721> ; # New Deal (1933-1939)
    schema:about <http://experiment.worldcat.org/entity/work/data/1168155378#Event/1933_1939> ; # 1933-1939
    schema:about <http://id.worldcat.org/fast/1204155> ; # United States.
    schema:bookFormat schema:EBook ;
    schema:contributor <http://experiment.worldcat.org/entity/work/data/1168155378#Organization/national_bureau_of_economic_research> ; # National Bureau of Economic Research.
    schema:contributor <http://experiment.worldcat.org/entity/work/data/1168155378#Person/snowden_kenneth_a> ; # Kenneth A. Snowden
    schema:copyrightYear "2012" ;
    schema:creator <http://experiment.worldcat.org/entity/work/data/1168155378#Person/rose_jonathan_derek> ; # Jonathan Derek Rose
    schema:datePublished "2012" ;
    schema:description "The introduction of the direct reduction (fully-amortized) loan contract to the U.S. residential mortgage market is an important instance of financial innovation. We describe the adoption of this contract within the building and loan (B & L) industry beginning in the 1880s and culminating in the 1930s. A long chain of complementary innovations at B & Ls gradually reduced the costs of adoption, leading to moderate use by the 1920s. The poor performance of traditional contracts during the crisis of the 1930s then radically altered the adoption calculus. At this point a new system of federal savings and loan charters incorporated many of the innovations that had been adopted within the small segment of the B & L industry that had introduced direct reduction lending by the 1920s. The B & L transition in mortgage contracts occurred primarily in the conventional loan market because B & Ls, unlike other lenders, generally avoided the use of the new FHA insurance program."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/1168155378> ;
    schema:genre "History"@en ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/1168155378#Series/nber_working_paper_series> ; # NBER working paper series ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/1168155378#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
    schema:name "The New Deal and the origins of the modern American real estate loan contract"@en ;
    schema:productID "810330050" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/810330050#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_2012> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/1168155378#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
    schema:url <http://papers.nber.org/papers/w18388> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/810330050> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/1168155378#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
    schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/1168155378#Organization/national_bureau_of_economic_research> # National Bureau of Economic Research.
    a schema:Organization ;
    schema:name "National Bureau of Economic Research." ;
    .

<http://experiment.worldcat.org/entity/work/data/1168155378#Person/rose_jonathan_derek> # Jonathan Derek Rose
    a schema:Person ;
    schema:familyName "Rose" ;
    schema:givenName "Jonathan Derek" ;
    schema:name "Jonathan Derek Rose" ;
    .

<http://experiment.worldcat.org/entity/work/data/1168155378#Person/snowden_kenneth_a> # Kenneth A. Snowden
    a schema:Person ;
    schema:familyName "Snowden" ;
    schema:givenName "Kenneth A." ;
    schema:name "Kenneth A. Snowden" ;
    .

<http://experiment.worldcat.org/entity/work/data/1168155378#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
    schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/1168155378#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/810330050> ; # The New Deal and the origins of the modern American real estate loan contract
    schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/1168155378#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/810330050> ; # The New Deal and the origins of the modern American real estate loan contract
    schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://id.loc.gov/authorities/subjects/sh85091258> # New Deal, 1933-1939
    a schema:Intangible ;
    schema:name "New Deal, 1933-1939"@en ;
    .

<http://id.worldcat.org/fast/1026596> # Mortgage loans
    a schema:Intangible ;
    schema:name "Mortgage loans"@en ;
    .

<http://id.worldcat.org/fast/1036721> # New Deal (1933-1939)
    a bgn:Meeting, schema:Event ;
    schema:name "New Deal (1933-1939)" ;
    .

<http://id.worldcat.org/fast/1204155> # United States.
    a schema:Place ;
    schema:name "United States." ;
    .

<http://www.worldcat.org/title/-/oclc/810330050>
    a genont:InformationResource, genont:ContentTypeGenericResource ;
    schema:about <http://www.worldcat.org/oclc/810330050> ; # The New Deal and the origins of the modern American real estate loan contract
    schema:dateModified "2016-11-19" ;
    void:inDataset <http://purl.oclc.org/dataset/WorldCat> ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.