Code for: Racial Disparities in the US Mortgage Market

Principal Investigator(s): View help for Principal Investigator(s) Agustin Hurtado, University of Maryland; Jung Sakong, Federal Reserve Bank of Chicago

Version: View help for Version V1

Name	File Type	Size	Last Modified
readme.pdf	application/pdf	103.3 KB	04/30/2024 05:14:PM
replication.do	text/plain	6.4 KB	04/30/2024 05:14:PM

Project Citation:

Hurtado, Agustin, and Sakong, Jung. Code for: Racial Disparities in the US Mortgage Market. Nashville, TN: American Economic Association [publisher], 2024. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2024-05-21. https://doi.org/10.3886/E201481V1

Project Description

Summary:

We study racial disparities in the U.S. mortgage market. Using new data from Hurtado and Sakong (2024), we present three findings. First, we document access disparities between minority and otherwise-identical White borrowers even within the same bank and loan officer. In contrast, cost disparities are nearly zero. Second, the use of automated underwriting algorithms is associated with smaller access disparities but slightly larger cost disparities. Third, individual factors such as loan officers’ race and whether borrowers’ race is observed at application do not seem to matter much.

Scope of Project

Subject Terms: Mortgage; Racial gaps

JEL Classification:
G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
J15 Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination

Data Type(s): program source code

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V1 [2024-05-21]

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