For the reasons observed in the sample of mortgage loaus examined, the real estate brokerage industry will continue to depend heavily on portfolio lending to finance residential housing transactions. This paper examines a sample of residential mortgages to determine the breadth of lending by home type and customer credit qualification. The findings show that portfolio lending is required to satisfy homebuyers with heterogeneous mortgage loan needs. Comparative analysis of credit decisions provides evidence of sound lending.
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Edmister et al. (1995) studied this question.
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