Gender Equality in Mortgage Lending

Real Estate Economics, DOI10.1111/1540-6229.12198, Forthcoming

Posted: 19 Jun 2020

See all articles by Lu Fang

Lu Fang

Florida International University

Henry J. Munneke

University of Georgia - Department of Insurance, Legal Studies, Real Estate

Date Written: April 11, 2017

Abstract

Using a sample of 30-year fixed-rate subprime mortgage loans, this article empirically examines whether gender inequality exists in the mortgage market, specifically whether a borrower’s gender affects the loan contract rate charged, beyond the impact of the borrower’s probability of default and prepayment. The results, based on a competing-risks loan hazard model, reveal that borrowers of different genders have different loan termination patterns. After controlling for the probability of a borrower defaulting or prepaying, female borrowers pay higher contract rates in the subprime mortgage market over the study period.

Keywords: Gender equality, Mortgage, Default, Prepayment

JEL Classification: G21, J16, R20

Suggested Citation

Fang, Lu and Munneke, Henry J., Gender Equality in Mortgage Lending (April 11, 2017). Real Estate Economics, DOI10.1111/1540-6229.12198, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3611015

Lu Fang (Contact Author)

Florida International University ( email )

Miami, FL
United States

Henry J. Munneke

University of Georgia - Department of Insurance, Legal Studies, Real Estate ( email )

Athens, GA 30602-6254
United States
(706) 542-0496 (Phone)
(706) 542-4295 (Fax)

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