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A Monte Carlo examination of bias tests in mortgage lending

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Author Info
Paul W. Bauer
Brian A. Cromwell

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Abstract

An exploration of the effectiveness of testing procedures in uncovering discrimination by mortgage lenders, reflecting perceived shortcomings in the scope of data provided by the Home Mortgage Disclosure Act, which indicates that the rejection rate for black mortgage applicants is much higher than for whites. The authors find that for plausible levels of bias, the sample size is critical, but that low levels of bias can be difficult to detect even with large sample sizes.

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File URL: http://clevelandfed.org/Research/Review/1994/94-q3-bauer.pdf
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Publisher Info
Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (1994)
Issue (Month): Q III ()
Pages: 27-40
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Handle: RePEc:fip:fedcer:y:1994:i:qiii:p:27-40:n:v.30no.3

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Related research
Keywords: Mortgages ; Discrimination in mortgage loans;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Robert B. Avery & Patricia E. Beeson & Mark S. Sniderman, 1993. "Lender consistency in housing credit markets," Proceedings, Federal Reserve Bank of Chicago, issue May, pages 339-358.
  2. Munnell, Alicia H. & Geoffrey M. B. Tootell & Lynn E. Browne & James McEneaney, 1996. "Mortgage Lending in Boston: Interpreting HMDA Data," American Economic Review, American Economic Association, vol. 86(1), pages 25-53, March.
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  3. Robert B. Avery & Patricia E. Beeson & Mark S. Sniderman, 1993. "Lender consistency in housing credit markets," Working Paper 9309, Federal Reserve Bank of Cleveland. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. David G. Blanchflower & Phillip B. Levine & David J. Zimmerman, 1998. "Discrimination in the Small Business Credit Market," NBER Working Papers 6840, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Douglas Evanoff & Lewis Segal, 1997. "Strategic Responses to Bank Regulation: Evidence From HMDA Data," Journal of Financial Services Research, Springer, vol. 11(1), pages 69-93, February. [Downloadable!] (restricted)
  3. Douglas D. Evanoff & Lewis M. Segal, 1996. "CRA and fair lending regulations: resulting trends in mortgage lending," Economic Perspectives, Federal Reserve Bank of Chicago, issue Nov, pages 19-46. [Downloadable!]
  4. Jed L. DeVaro & Jeffrey M. Lacker, 1995. "Errors in variables and lending discrimination," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 19-32. [Downloadable!]
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