Working Paper
How Resilient Is Mortgage Credit Supply? Evidence from the COVID-19 Pandemic
WP 21-20/R – Lower interest rates in 2020–2021 were not fully passed through to mortgage borrowers due to a sharp rise in intermediation markups. These higher markups reflect capacity constraints amplified by operational and labor market frictions.
Featured Work
Report
Do Mortgage Borrowing Experiences Differ by Race and Ethnicity? Evidence from the National Survey of Mortgage Originations
In this CFI Special Report, we assess whether mortgage borrowing experiences vary by race and ethnicity.
Working Paper
Constructing Applicants from Loan-Level Data: A Case Study of Mortgage Applications
WP 25-05 – We develop an algorithm to detect loan applicants who submit multiple applications in a loan-level dataset. We estimate that in our data our method identifies applicants that submit multiple mortgage applications with 93 percent precision.
Working Paper
Measuring Fairness in the U.S. Mortgage Market
WP 25-04 – How fair or unfair is the U.S. mortgage market? We show that the answer crucially depends on one's definition of fairness. By contrasting six competing definitions, we offer a comprehensive view of fairness in this market.
Featured Data
Advancing Fairness in Lending Through Machine Learning
Showcasing the work of Philadelphia Fed researchers, this interactive data visualization explores an approach to credit lending using machine learning and fairness goals that may help address current disparities in credit access.
Updated: 05 Feb ’24