Tag: mortgage denial
The brief’s key findings are: As the population ages, an important question is whether aging affects a person’s ability to access credit. This study explores the question using data on mortgage refinance applications from the confidential Home Mortgage Disclosure Act. The analysis, which controls for a host of applicant, property, and loan characteristics, finds that rejection rates…
While the effect is larger than race, it does not necessarily imply lenders are violating fair lending laws. We have just published a brief on a really interesting paper by Natee Amornsiripanitch, a senior financial economist at the Philadelphia Fed, that explores the relationship between age and the probability of being denied a mortgage application. The paper uses Confidential Hom…
