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A Research Note on Discrimination in Mortgage Lending

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  • Donald R. Epley
  • Timothy P. Cronan
  • Larry Perry

Abstract

This paper examines the hypothesis that mortgage lenders rank applications from better to worst and encourage the better ones to apply. A second ranking occurs when the application is ranked by the loan committee and funds are approved from the top of the list until exhausted. A theoretically correct procedure for analyzing the resulting multivariate ordinal data is the little known rank multiple discriminant analysis. Preliminary results have revealed that this technique produces a “best” model with fewer variables and a higher classification rate than the commonly known multiple discriminant analysis, logit, or probit.

Suggested Citation

  • Donald R. Epley & Timothy P. Cronan & Larry Perry, 1985. "A Research Note on Discrimination in Mortgage Lending," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 13(4), pages 446-451, December.
    • Handle: RePEc:bla:reesec:v:13:y:1985:i:4:p:446-451
    DOI: 10.1111/1540-6229.00364
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