Showing 1 - 6 of 6
Technology has changed how discrimination manifests itself in financial services. Replacing human discretion with algorithms in decision-making roles reduces taste-based discrimination, and new modeling techniques have expanded access to financial services to households who were previously...
Persistent link: https://www.econbiz.de/10012834058
To assess whether homeowners know their house values and mortgage terms, we compare the distributions of these variables in the household-reported 2001 Survey of Consumer Finances (SCF) to the distributions in lender-reported data. We also examine the share of SCF respondents who report not...
Persistent link: https://www.econbiz.de/10012733743
are much higher than those observed at any point in the 2000s. We describe in this paper how non-bank mortgage companies … issues unfolded during the financial crisis, leading to the failure of many non-bank companies, requests for government … assistance, and harm to consumers. The high share of non-bank lenders in FHA and VA lending suggests that the government has …
Persistent link: https://www.econbiz.de/10012852711
Previous research indicates that changes in housing wealth affect consumer spending on cars. We find that home equity extraction plays only a small role in this relationship. Consumers rarely use funds from equity extraction to purchase a car directly, even during the mid-2000s housing boom;...
Persistent link: https://www.econbiz.de/10012855857
The liquidity strains that contributed to the meltdown of the mortgage market in the Global Financial Crisis (GFC) re-emerged in the Coronavirus 2019 (COVID-19) Crisis. Some of these strains were acute. For example, the dependence of mortgage real estate investment trusts (REITs) on short-term...
Persistent link: https://www.econbiz.de/10013404844
Technology has changed how discrimination manifests itself in financial services. Replacing human discretion with algorithms in decision-making roles reduces taste-based discrimination, and new modeling techniques have expanded access to financial services to households who were previously...
Persistent link: https://www.econbiz.de/10014351811