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Racial Discrimination and Mortgage Lending

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  • James Kau
  • Donald Keenan
  • Henry Munneke

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  • James Kau & Donald Keenan & Henry Munneke, 2012. "Racial Discrimination and Mortgage Lending," The Journal of Real Estate Finance and Economics, Springer, vol. 45(2), pages 289-304, August.
    • Handle: RePEc:kap:jrefec:v:45:y:2012:i:2:p:289-304
    DOI: 10.1007/s11146-011-9330-3
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    References listed on IDEAS

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    1. Stephen L. Ross, 2005. "The Continuing Practice and Impact of Discrimination," Working papers 2005-19, University of Connecticut, Department of Economics, revised Jul 2006.
    2. Song Han, 2004. "Discrimination in Lending: Theory and Evidence," The Journal of Real Estate Finance and Economics, Springer, vol. 29(1), pages 5-46, July.
    3. Kelly, Austin, 1995. "Racial and Ethnic Disparities in Mortgage Prepayment," Journal of Housing Economics, Elsevier, vol. 4(4), pages 350-372, December.
    4. Black, Harold A. & Boehm, Thomas P. & DeGennaro, Ramon P., 2003. "Is there discrimination in mortgage pricing? The case of overages," Journal of Banking & Finance, Elsevier, vol. 27(6), pages 1139-1165, June.
    5. Munnell, Alicia H. & Geoffrey M. B. Tootell & Lynn E. Browne & James McEneaney, 1996. "Mortgage Lending in Boston: Interpreting HMDA Data," American Economic Review, American Economic Association, vol. 86(1), pages 25-53, March.
    6. Helen F. Ladd, 1998. "Evidence on Discrimination in Mortgage Lending," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 41-62, Spring.
    7. James A. Berkovec & Glenn B. Canner & Stuart A. Gabriel & Timothy H. Hannan, 1998. "Discrimination, Competition, And Loan Performance In Fha Mortgage Lending," The Review of Economics and Statistics, MIT Press, vol. 80(2), pages 241-250, May.
    8. Yongheng Deng & John M. Quigley & Robert Van Order, 2000. "Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options," Econometrica, Econometric Society, vol. 68(2), pages 275-308, March.
    9. Geoffrey M. B. Tootell, 1996. "Redlining in Boston: Do Mortgage Lenders Discriminate Against Neighborhoods?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 111(4), pages 1049-1079.
    10. Alois L. J. Geyer & Stefan Pichler, 1999. "A State‐Space Approach To Estimate And Test Multifactor Cox‐Ingersoll‐Ross Models Of The Term Structure," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 22(1), pages 107-130, March.
    11. John M. Clapp & Yongheng Deng & Xudong An, 2006. "Unobserved Heterogeneity in Models of Competing Mortgage Termination Risks," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 34(2), pages 243-273, June.
    12. Nothaft, Frank E. & Perry, Vanessa G., 2002. "Do mortgage rates vary by neighborhood? Implications for loan pricing and redlining," Journal of Housing Economics, Elsevier, vol. 11(3), pages 244-265, September.
    13. Deng, Yongheng & Gabriel, Stuart, 2006. "Risk-Based Pricing and the Enhancement of Mortgage Credit Availability among Underserved and Higher Credit-Risk Populations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(6), pages 1431-1460, September.
    14. Holmes, Andrew & Horvitz, Paul, 1994. "Mortgage Redlining: Race, Risk, and Demand," Journal of Finance, American Finance Association, vol. 49(1), pages 81-99, March.
    15. Thomas Boehm & Paul Thistle & Alan Schlottmann, 2006. "Rates and race: An analysis of racial disparities in mortgage rates," Housing Policy Debate, Taylor & Francis Journals, vol. 17(1), pages 109-149.
    16. Berkovec, James A & Canner, Glenn B. & Gabriel, Stuart A. & Hannan, Timothy H., 1994. "Race, Redlining, and Residential Mortgage Loan Performance," The Journal of Real Estate Finance and Economics, Springer, vol. 9(3), pages 263-294, November.
    17. Marsha Courchane & David Nickerson, 1997. "Discrimination Resulting from Overage Practices," Journal of Financial Services Research, Springer;Western Finance Association, vol. 11(1), pages 133-151, February.
    18. Duca, John V & Rosenthal, Stuart S, 1994. "Do Mortgage Rates Vary Based on Household Default Characteristics? Evidence on Rate Sorting and Credit Rationing," The Journal of Real Estate Finance and Economics, Springer, vol. 8(2), pages 99-113, March.
    19. Crawford, Gordon W & Rosenblatt, Eric, 1999. "Differences in the Cost of Mortgage Credit Implications for Discrimination," The Journal of Real Estate Finance and Economics, Springer, vol. 19(2), pages 147-159, September.
    20. Amil Petrin & Kenneth Train, 2003. "Omitted Product Attributes in Discrete Choice Models," NBER Working Papers 9452, National Bureau of Economic Research, Inc.
    21. Robert Order & Peter Zorn, 2000. "Income, Location and Default: Some Implications for Community Lending," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 28(3), pages 385-404.
    22. John M. Clapp & Gerson M. Goldberg & John P. Harding & Michael LaCour‐Little, 2001. "Movers and Shuckers: Interdependent Prepayment Decisions," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 29(3), pages 411-450, March.
    23. Geyer, Alois L J & Pichler, Stefan, 1999. "A State-Space Approach to Estimate and Test Multifactor Cox-Ingersoll-Ross Models of the Term Structure," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 22(1), pages 107-130, Spring.
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    Cited by:

    1. Aakrit Joshi & Brady P. Horn & Robert P. Berrens, 2024. "Contemporary differences in residential housing values along historic redlining boundaries," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 52(2), pages 514-551, March.
    2. David H Chae & Sean Clouston & Mark L Hatzenbuehler & Michael R Kramer & Hannah L F Cooper & Sacoby M Wilson & Seth I Stephens-Davidowitz & Robert S Gold & Bruce G Link, 2015. "Association between an Internet-Based Measure of Area Racism and Black Mortality," PLOS ONE, Public Library of Science, vol. 10(4), pages 1-12, April.
    3. Fang, Lu & Munneke, Henry J., 2021. "A spatial analysis of borrowers’ mortgage termination decision – A nonparametric approach," Regional Science and Urban Economics, Elsevier, vol. 86(C).
    4. Okechukwu D. Anyamele, 2018. "Racial Ethnic differences in Household Loan Delinquency Rate in recent financial crisis: Evidence from 2007 and 2010 Survey of Consumer Finances," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 8(3), pages 1-4.
    5. Brent C Smith & Kenneth N. Daniels, 2018. "Unintended Consequences of Risk Based Pricing: Racial Differences in Mortgage Costs," Journal of Financial Services Research, Springer;Western Finance Association, vol. 54(3), pages 323-343, December.
    6. Lu Fang & Henry J. Munneke, 2020. "Gender Equality in Mortgage Lending," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 48(4), pages 957-1003, December.
    7. Ken B. Cyree & Drew B. Winters, 2023. "Investigating bank lending discrimination in the US using CRA-rated banks’ HMDA loan data," Public Choice, Springer, vol. 197(3), pages 371-395, December.
    8. Doris Neuberger & Udo Reifner, 2020. "Systemic Usury and the European Consumer Credit Directive," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 89(1), pages 115-132.
    9. Reza Tajaddini & Hassan F. Gholipour, 2017. "National Culture and Default on Mortgages," International Review of Finance, International Review of Finance Ltd., vol. 17(1), pages 107-133, March.
    10. James B. Kau & Lu Fang & Henry J. Munneke, 2019. "An Unintended Consequence of Mortgage Financing Regulation – a Racial Disparity," The Journal of Real Estate Finance and Economics, Springer, vol. 59(4), pages 549-588, November.
    11. Steven Malliaris & Daniel A. Rettl & Ruchi Singh, 2022. "Is competition a cure for confusion? Evidence from the residential mortgage market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(1), pages 206-246, March.
    12. James Conklin & Kristopher Gerardi & Lauren Lambie-Hanson, 2022. "Can Everyone Tap Into the Housing Piggy Bank? Racial Disparities in Access to Home Equity," FRB Atlanta Working Paper 2022-17, Federal Reserve Bank of Atlanta.
    13. Tian, Geran & Wu, Weixing, 2023. "Big data pricing in marketplace lending and price discrimination against repeat borrowers: Evidence from China," China Economic Review, Elsevier, vol. 78(C).
    14. David Nickerson, 2022. "Credit Risk, Regulatory Costs and Lending Discrimination in Efficient Residential Mortgage Markets," JRFM, MDPI, vol. 15(5), pages 1-17, April.

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    Keywords

    Racial discrimination; Mortgage lending;

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