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FSU Research Seminar Series - Emerging topics in natural disaster risk management
The Dr. William T. Hold/The National Alliance Program in Risk Management and Insurance at Florida State University invites you to its Spring 2021 virtual research seminar series. The seminars focus on topics related to the mitigation of natural disaster losses, building resilience, and new approaches to financing natural disaster losses.

Dr. Nancy Wallace (UC Berkeley) will present her research "Consumer-Lending Discrimination in the FinTech Era".
Abstract: U.S. fair-lending law prohibits lenders from making credit determinations that dis-
parately impact minority borrowers if those determinations are based on characteris-
tics unrelated to creditworthiness. Using an identi cation under this rule a orded by
the GSEs' and FHA's pricing of mortgage credit risk, we show that risk-equivalent
Latinx/African-American borrowers pay signi cantly higher interest rates on both
GSE-securitized and FHA-insured loans and that rate disparities are especially pro-
nounced within majority-minority neighborhoods. In total, we estimate that these rate
di erences cost minority borrowers over $450 million yearly. These rate disparities were
substantially lower for FinTech lenders for loans issued between 2009 and 2015, but
there is no signi cant di erence between FinTech and other lenders for 2018 and 2019.

Apr 14, 2021 03:00 PM in Eastern Time (US and Canada)

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