Full Citation
Title: RACE IN THE MORTGAGE MARKET: AN EMPIRICAL INVESTIGATION USING HMDA DATA
Citation Type: Journal Article
Publication Year: 2014
ISBN:
ISSN:
DOI:
NSFID:
PMCID:
PMID:
Abstract: This paper investigates the role of race in the mortgage market using data from the Home Mortgage Disclosure Act and the census from 1992 to 2003 for the Indianapolis Metropolitan Statistical Area. A multinomial log it model is used to isolate the effect of race on the final outcome of a loan application, after accounting for individual, loan, neighborhood, and property characteristics. The findings of this paper are consistent with those of previous works in this field, that is, being black or Hispanic lowers the probability of a successful loan application. Although data limitations prevent this paper from claiming explicit discrimination in the mortgage market, the project demonstrates that race is a statistically significant variable in predicting the outcome of a mortgage application. Copyright of Race, Gender & Class is the property of Race, Gender & Class and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.
User Submitted?: No
Authors: Cherian, Madhavi
Periodical (Full): Race, Gender & Class
Issue: 1/2
Volume: 21
Pages: 48-63
Data Collections: IPUMS USA
Topics: Population Data Science, Race and Ethnicity
Countries: United States