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Subprime lending over time: the role of race

Author

Listed:
  • Christy Chung Hevener
  • Marvin M. Smith

Abstract

Analyzes the racial gap in subprime mortgages over time. The study estimates a portion of the gap that cannot be attributed to such characteristics as income, credit score, loan amount, degree of documentation, denial rate, residence in a minority tract, and debt-to-income ratio. It concludes that the unexplained portion suggests that bias in mortgage lending cannot be ruled out.

Suggested Citation

  • Christy Chung Hevener & Marvin M. Smith, 2010. "Subprime lending over time: the role of race," Community Affairs Discussion Paper 10-02, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpcd:10-02
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/community-development/discussion-papers/subprime-lending-over-time-the-role-of-race.pdf
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    Keywords

    Subprime market; Predatory lending; Discrimination in housing;
    All these keywords.

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