Do FinTech Mortgage Lenders Fill the Credit Gap? Evidence from Natural Disasters
研究发现，自然灾害后金融科技贷款机构比传统银行和非金融科技影子银行更积极地增加重建抵押贷款供给，且不伴随风险调整利率或违约率上升，其供给弹性更大。
Abstract After exogenous demand shocks caused by natural disasters, FinTech lenders are more responsive to increased demand for reconstruction mortgages than traditional banks and non-FinTech shadow banks. Both FinTech and traditional banks increase credit supply, but FinTech supply is more elastic without increases in risk-adjusted interest rates or delinquency rates. Comparing lending supply channels, banks respond to regulatory incentives to lend to damaged areas, whereas FinTech lenders supply more credit when traditional banks rely more on balance sheet financing and physical branch networks. Compared to traditional banks, FinTech lenders increase supply elasticity more aggressively in response to local competitive pressure.