characteristics in order to clarify how the subprime foreclosure crisis played out in minority areas. An innovation in our modeling …, we find that borrowers in minority neighborhoods, delineated by Census tracts, were less likely to default at high … finding that subprime borrowers in minority neighborhoods have a lower propensity to default at high CLTV stands in contrast …

of nearly 9 million mortgages originated between 2005 and 2009, we find that minority borrowers were significantly more … that the concentration of minority buyers in such loans explains a significant fraction of the difference in default rates … accelerants for many minority homeowners that experienced significant income and equity shocks during the Great Recession …

How do technological advancements in credit markets affect minority communities? We use the endorsement of FICO credit … scores led to the sorting of prime and subprime lenders across minority and non-minority neighborhoods. In minority … neighborhoods prime lenders were substituted by subprime lenders and, as a result, the share of subprime lending in minority …

significantly underrepresented among mortgage loan officers. Minority borrowers are less likely to complete mortgage applications … reduced when minority borrowers work with minority loan officers. In addition, minority borrowers working with minority loan … suggest that the underrepresentation of minorities among loan officers has an adverse effect on minority borrowers’ access to …