Borrowers from a different shore: Asian outcomes in the U.S. mortgage market

摘要: Abstract Even though Asians are now the largest minority group participating in United States mortgage markets, research on differences underwriting and pricing outcomes mortgages typically focuses of African American Hispanic borrowers. One explanation for lack attention Asian follows from perceived relative economic prosperity this group, which may lead to belief that they less need consumer protection or policy support. While simple averages characteristics support belief, documented heterogeneity experiences suggests use other measures be needed account varied U.S. housing markets. Using a unique proprietary source lender data, we examine these outcomes. We find face challenges markets ways as compared groups. For example, while an examination unadjusted average denial rates indicates favorable groups, after accounting loan borrower characteristics, have high