Race , Ethnicity and High Cost Mortgage Lending *

  title={Race , Ethnicity and High Cost Mortgage Lending *},
  author={Patrick Bayer and Fernando Ferreira and Stephen L. Ross},
This paper examines how high cost mortgage lending varies by race and ethnicity. It uses a unique panel data that matches a representative s ample of mortgages in seven large metropolitan markets between 2004 and 2008 to publi c records of housing transactions and proprietary credit reporting data. The results reveal a significantly higher incidence of high costs loans for African-American and Hispan ic borrowers even after controlling for key mortgage risk factors: they have a 7.7 and 6.2… CONTINUE READING


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