The DOI matches its Crossref record; 5 of the 5 references it cites were found in a registry or an index.
The Role of Technology in Mortgage Lending
Open accessAbstract
Technology-based (“FinTech”) lenders increased their market share of U.S. mortgage lending from 2% to 8% from 2010 to 2016. Using loan-level data on mortgage applications and originations, we show that FinTech lenders process mortgage applications 20% faster than other lenders, controlling for observable characteristics. Faster processing does not come at the cost of higher defaults. FinTech lenders adjust supply more elastically than do other lenders in response to exogenous mortgage demand shocks. In areas with more FinTech lending, borrowers refinance more, especially when it is in their interest. We find no evidence that FinTech lenders target borrowers with low access to finance.Received June 1, 2017; editorial decision November 5, 2018 by Editor Wei Jiang. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.
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Cites
Keys, B. J., Pope, D. G., & Pope, J. C. (2016) · Journal of Financial Economics · doi:10.1016/j.jfineco.2016.01.031 · Cited by 262
Sources of Inaction in Household Finance: Evidence from the Danish Mortgage Market
Andersen, S., Campbell, J. Y., Nielsen, K. M., & Ramadorai, T. (2020) · American Economic Review · doi:10.1257/aer.20180865 · Cited by 262
International Comparative Household Finance
Badarinza, C., Campbell, J. Y., & Ramadorai, T. (2016) · Annual Review of Economics · doi:10.1146/annurev-economics-080315-015425 · Cited by 218
Optimal Mortgage Refinancing: A Closed‐Form Solution
AGARWAL, S., DRISCOLL, J. C., & LAIBSON, D. I. (2013) · Journal of Money, Credit and Banking · doi:10.1111/jmcb.12017 · Cited by 185
Why Do Borrowers Make Mortgage Refinancing Mistakes?
Agarwal, S., Rosen, R. J., & Yao, V. (2016) · Management Science · doi:10.1287/mnsc.2015.2272 · Cited by 173
Cited by
FinTech and banking: What do we know?
Thakor, A. V. (2020) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2019.100833 · Cited by 1,378
On the Rise of FinTechs: Credit Scoring Using Digital Footprints
Berg, T., Burg, V., Gombović, A., & Puri, M. (2020) · The Review of Financial Studies · doi:10.1093/rfs/hhz099 · Cited by 919
Consumer-lending discrimination in the FinTech Era
Bartlett, R., Morse, A., Stanton, R., & Wallace, N. (2022) · Journal of Financial Economics · doi:10.1016/j.jfineco.2021.05.047 · Cited by 659
Predictably Unequal? The Effects of Machine Learning on Credit Markets
FUSTER, A., GOLDSMITH‐PINKHAM, P., RAMADORAI, T., & WALTHER, A. (2022) · The Journal of Finance · doi:10.1111/jofi.13090 · Cited by 872
Self-citationDoes fintech innovation improve bank efficiency? Evidence from China’s banking industry
Lee, C.-C., Li, X., Yu, C.-H., & Zhao, J. (2021) · International Review of Economics & Finance · doi:10.1016/j.iref.2021.03.009 · Cited by 544
Metadata
- Authors
- Fuster, A., Plosser, M., Schnabl, P., & Vickery, J.
- Venue
- The Review of Financial Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 2019-04-04
- Volume
- 32
- Issue
- 5
- Pages
- 1854-1899
- ISSN
- 0893-9454 (ISSN-L)
- 1465-7368
- OpenAlex
- W2943908192
- Cited by
- 1,128
- References
- 5
- FWCI
- 96.20
- Type
- journal article
- Language
- en
- Open access
- green
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