Fuster, Andreas; Plosser, Matthew; Schnabl, Philipp; … - 2018
Technology-based ("FinTech") lenders increased their market share of U.S. mortgage lending from 2 percent to 8 percent … from 2010 to 2016. Using market-wide, loan-level data on U.S. mortgage applications and originations, we show that FinTech …, borrower, and geographic observables. Faster processing does not come at the cost of higher defaults. FinTech lenders adjust …