scholarly journals Fintech Lending and Mortgage Credit Access

2020 ◽  
pp. 1-50
Author(s):  
Julapa Jagtiani ◽  
Lauren Lambie-Hanson ◽  
Timothy Lambie-Hanson
Keyword(s):  
Mortgage Market ◽  
Application Process ◽  
2008 Financial Crisis ◽  
Credit Access ◽  
Mortgage Credit ◽  
Market Shares ◽  
Credit Scores ◽  
The 2008 Financial Crisis ◽  
Denial Rates ◽  
Mortgage Origination

Following the 2008 financial crisis, mortgage credit tightened and banks lost significant mortgage market share to nonbank lenders, including to fintech firms recently. Have fintech firms expanded credit access, or are their customers similar to those of traditional lenders? Unlike in small business and unsecured consumers lending, fintech mortgage lenders do not have the same incentives or flexibility to use alternative data for credit decisions because of stringent mortgage origination requirements. Fintech loans are broadly similar to those made by traditional lenders, despite innovations in the marketing and the application process. However, nonbanks market to consumers with weaker credit scores than do banks, and fintech lenders have greater market shares in areas with lower credit scores and higher mortgage denial rates.

Playing by the Rules

Watchdog ◽  
2020 ◽  
pp. 89-104
Author(s):  
Richard Cordray
Keyword(s):  
Financial Crisis ◽  
Mortgage Market ◽  
Data Driven ◽  
The Political ◽  
Financial Protection ◽  
Political Climate ◽  
2008 Financial Crisis ◽  
Data Driven Approach ◽  
The 2008 Financial Crisis ◽  
Entire Economy

In the runup to the 2008 financial crisis, lenders were offering reckless “no doc” mortgages, consumers were making unsustainable choices, and the effects were devastating not only for those lenders and consumers but also for everyone around them. Many unsound practices that lenders engaged in were entirely legal, and Congress directed the Consumer Financial Protection Bureau to write new rules to rein in irresponsible practices to safeguard consumers and the entire economy. Congress gave the bureau only eighteen months to complete major regulations reshaping the mortgage market. This chapter describes how the bureau created these rules, the data-driven approach it used, the role that economists and market analysts played in helping make key choices, and the political climate in which it all occurred.

The 2008 Financial Crisis and the Danish Mortgage Market

2015 ◽  
pp. 51-67 ◽  
Author(s):  
Jacob Gyntelberg ◽  
Kristian Kjeldsen ◽  
Morten Baekmand Nielsen ◽  
Mattias Persson
Keyword(s):  
Financial Crisis ◽  
Mortgage Market ◽  
2008 Financial Crisis ◽  
The 2008 Financial Crisis

Mathematics without Apologies

2017 ◽  
Author(s):  
Michael Harris
Keyword(s):  
Number Theory ◽  
Financial Crisis ◽  
Pop Culture ◽  
First Century ◽  
2008 Financial Crisis ◽  
Dinner Party ◽  
Mathematical Life ◽  
Personal Experiences ◽  
The 2008 Financial Crisis ◽  
Guided Tour

What do pure mathematicians do, and why do they do it? Looking beyond the conventional answers, this book offers an eclectic panorama of the lives and values and hopes and fears of mathematicians in the twenty-first century, assembling material from a startlingly diverse assortment of scholarly, journalistic, and pop culture sources. Drawing on the author's personal experiences as well as the thoughts and opinions of mathematicians from Archimedes and Omar Khayyám to such contemporary giants as Alexander Grothendieck and Robert Langlands, the book reveals the charisma and romance of mathematics as well as its darker side. In this portrait of mathematics as a community united around a set of common intellectual, ethical, and existential challenges, the book touches on a wide variety of questions, such as: Are mathematicians to blame for the 2008 financial crisis? How can we talk about the ideas we were born too soon to understand? And how should you react if you are asked to explain number theory at a dinner party? The book takes readers on an unapologetic guided tour of the mathematical life, from the philosophy and sociology of mathematics to its reflections in film and popular music, with detours through the mathematical and mystical traditions of Russia, India, medieval Islam, the Bronx, and beyond.

Credit Spreads and Regime Shifts: Evidence from the 2008 Financial Crisis

2012 ◽  
Author(s):  
Ivelina Pavlova ◽  
Ann Marie Hibbert ◽  
Joel R. Barber ◽  
Krishnan Dandapani
Keyword(s):  
Financial Crisis ◽  
Regime Shifts ◽  
Credit Spreads ◽  
2008 Financial Crisis ◽  
The 2008 Financial Crisis
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