@article {Goodman67, author = {Laurie S Goodman and Roger Ashworth and Brian Landy and Ke Yin}, title = {Negative Equity Trumps Unemployment in Predicting Defaults}, volume = {19}, number = {4}, pages = {67--72}, year = {2010}, doi = {10.3905/JFI.2010.19.4.067}, publisher = {Institutional Investor Journals Umbrella}, abstract = {In this article, the authors show that negative equity alone is a more important predictor of defaults than unemployment. They also establish that when the borrower is significantly underwater, high unemployment can act as a trigger, amplifying the level of defaults.TOPICS: MBS and residential mortgage loans, legal/regulatory/public policy, big data/machine learning}, issn = {1059-8596}, URL = {https://jfi.pm-research.com/content/19/4/67}, eprint = {https://jfi.pm-research.com/content/19/4/67.full.pdf}, journal = {The Journal of Fixed Income} }