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The Effect of Sustainability Features on Mortgage Default Prediction and Risk in Multifamily Rental Housing

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  • Gary Pivo

Abstract

This study examines the relationship between transportation-, location-, and affordability-related sustainability features and default risk in multifamily housing. It finds that sustainability features can be used to improve the prediction of mortgage default and reduce default risk. The study uses 37,385 loans in the Fannie Mae multifamily portfolio at the end of 2011:Q3. The results suggest two implications for practice. First, certain aspects of sustainability can be fostered without increasing default risk by adjusting conventional lending standards. Second, lenders could improve their risk management practices by taking stock of sustainability features when loans originate.

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  • Gary Pivo, 2013. "The Effect of Sustainability Features on Mortgage Default Prediction and Risk in Multifamily Rental Housing," Journal of Sustainable Real Estate, Taylor & Francis Journals, vol. 5(1), pages 149-170, January.
    • Handle: RePEc:taf:rsrexx:v:5:y:2013:i:1:p:149-170
    DOI: 10.1080/10835547.2014.12091854
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