IDEAS home Printed from https://ideas.repec.org/a/jre/issued/v25n42003p543-556.html
   My bibliography  Save this article

The Influence of Race in Residential Mortgage Closings

Author

Listed:
  • John P. McMurray

    (Freddie Mac, McLean, VA 22102-3110)

  • Thomas A. Thomson

    (The University of Texas–San Antonio, San Antonio, TX 78249-0637)

Abstract

This study examines how applicants identified as Asian, Black or Hispanic differ in mortgage closing outcomes compared to the remaining applicants. First, the findings show that minority applicants are somewhat less likely to close a loan for purchase, but equally likely to close a loan for refinance. A more important question this study addresses is whether minority borrowers have less efficient closing outcomes. The findings show no statistical difference between minority and non-minority applicants. This indicates that originators do not demonstrate a ‘‘taste for discrimination’’ by basing their loan approval for minorities on whether the loan can be profitably sold.

Suggested Citation

  • John P. McMurray & Thomas A. Thomson, 2003. "The Influence of Race in Residential Mortgage Closings," Journal of Real Estate Research, American Real Estate Society, vol. 25(4), pages 543-556.
    • Handle: RePEc:jre:issued:v:25:n:4:2003:p:543-556
    as

    Download full text from publisher

    File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol25n04/10.543_556.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:25:n:4:2003:p:543-556. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: JRER Graduate Assistant/Webmaster (email available below). General contact details of provider: http://www.aresnet.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.