The Role of Technology in Mortgage Lending
UNIVERSITY OF TECHNOLOGY SYDNEY
Finance Discipline Group
Research Seminars in Finance
Topic: The Role of Technology in Mortgage Lending
Speaker: James Vickery , New York Federal Reserve
Abstract: We analyze the role of technology in mortgage lending. In the period from 2010 to 2015, technology-based (“FinTech”) lenders have increased their market share of U.S. mortgage lending from 2.1% to 7.4%. We present evidence that FinTech lenders process mortgage applications more quickly, even controlling for a large set of loan and borrower observables and fine geographic and time controls. We also find preliminary evidence that FinTech lenders adjust supply more elastically than other lenders in response to mortgage demand shocks. In ongoing analysis we investigate whether FinTech lending is preferred by consumers with a high demand for online services, and whether the presence of FinTech lenders helps reduce inefficiencies in refinancing decisions. Our proposed analysis has broad implications for the effects of technology on lending markets and the evolving role of soft versus hard information.
A light lunch will be provided at 1p.m. Please RSVP for catering purposes to Mala Kapahi by 12 noon on Monday, 25th September.
Date: Wednesday, 27th September 2017
Time: 12.00 – 1.00 p.m.
Venue: University of Technology, Sydney
Building 8
Dr Chau Chak Wing Building
Dr Chau Chak Wing Building
14 - 28 Ultimo Road, Ultimo
Co-ordinator: Adrian Lee (Ph: +61 2 9514 7765)
Enquiries: Mala Kapahi (Ph: +61 2 9514 7777)
