The Impact of Minority Representation at Mortgage Lenders
研究发现少数族裔在贷款官员中代表性不足，导致少数族裔借款人更难完成申请、获批并最终获得贷款，而与少数族裔贷款官员配对则能减少这些差距并降低违约率。
ABSTRACT We study links between the labor market for loan officers and access to mortgage credit. Using novel data matching mortgage applications to loan officers, we find that minorities are underrepresented among loan officers. Minority borrowers are less likely to complete mortgage applications, have completed applications approved, and to ultimately take up a loan. These disparities are reduced when minority borrowers work with minority loan officers. These pairings also lead to lower default rates, suggesting minority loan officers have an informational advantage with minority borrowers. Our results suggest minority underrepresentation among loan officers reduces minority borrowers’ access to credit.