期刊
JOURNAL OF URBAN AFFAIRS
卷 -, 期 -, 页码 -出版社
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/07352166.2022.2055477
关键词
Fintech; mortgages; subprime lending; immigrant gateways
This article examines the impact of financial technology lending in immigrant gateway metropolitan areas. The study finds that these areas have higher rates of subprime lending, and the proportion of Asian and Latinx residents affects the distribution of subprime loans by different types of lenders.
Financial technology lending (fintech) is a subset of the mortgage industry characterized by all-online application processes and the inclusion of non-traditional applicant data in underwriting decisions. While national studies suggest that fintech lenders mimic traditional lenders and distribute subprime loans to minority borrowers and neighborhoods at higher rates than to white borrowers and neighborhoods, these studies exclude regional differences by race/ethnicity and nativity. We assess variation in neighborhood-level fintech and traditional subprime lending rates across immigrant gateway metropolitan areas. Using Home Mortgage Disclosure Act (HMDA) data, we find that immigrant gateways are associated with higher rates of subprime lending than metropolitan areas with low rates of immigration. Results suggest that neighborhood-level composition of Asian and Latinx residents mediate the relationship between subprime lending and immigrant gateways in distinct ways depending on lender type. Findings suggest metropolitan and tract-level racial and ethnic patterns remain key factors in shaping subprime lending rates in a rapidly evolving mortgage credit market.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据