This paper compares the predictive power of credit scoring models based on machine learning techniques with that of traditional loss and default models. Using proprietary transaction-level data from a leading fintech company in China for the period between May and September 2017, we test the...

Both securitization and remote lending have become much more extensive since the 1970s. We present a tractable theoretical model that links these two trends. DeMarzo and Duffie (Econometrica 1999) study the problem of a bank that wishes to securitize an exogenous portfolio of loans about which...