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Cooperative home financing

Author

Listed:
  • M. Shahid Ebrahim

Abstract

This paper integrates the literature of Mortgage Design with that of Rotating Savings and Credit Associations (ROSCAs) to present a novel way of mortgage financing (with a zero interest rate) using cooperatives. This mode of financing dissipates credit (default) risk better than the normal mode of financing (via traditional intermediaries). It is also resilient to volatility of interest rates (stemming from changes in inflationary expectations) and is pareto-efficient to traditional interest bearing mortgages

Suggested Citation

  • M. Shahid Ebrahim, 2006. "Cooperative home financing," Computing in Economics and Finance 2006 13, Society for Computational Economics.
    • Handle: RePEc:sce:scecfa:13
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    More about this item

    Keywords

    Asset Bubble; Community Bank; Inflation; Mortgage Design; and ROSCA.;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis

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