Access to Mortgage Credit - Research
Presented by Spencer Cowan at the South Side Builders Association
Presented by Spencer Cowan at the Housing Action Illinois Annual Conference
This study examines women’s access to mortgages in the Chicago six county region to determine whether female mortgage applicants may be disadvantaged in securing financing to either purchase a home or refinance one already owned. This research examines additional factors, beyond the race or ethnicity of the applicant, which may be contributing to the disparities in origination rates. Using HMDA data for the period 2011 to 2013, the research explores three factors that may be correlated with disparities in origination rates for female applicants: 1) the income level of the borrower; 2) the type of loan applied for; and 3) the geographic location of the property within the Chicago region. In addition, we analyzed data from all lenders that reported receiving at least one percent of all applications for the study period to see if there were differences in origination rates among the institutions.