A Procedure for Uncovering Acceptable and Nonacceptable Mortgage Applications through Discriminant Analysis Using Ranked Data

Larry G. Perry (), Timothy P. Cronan () and Donald A. Epley
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Larry G. Perry: Department of Finance University of Arkansas Fayetteville, Arkansas 72701, http://www.uark.edu/depts/finninfo/
Timothy P. Cronan: Computer Information Systems & Quantitative Analysis University of Arkansas Fayetteville, Arkansas 72701, http://www.uark.edu/depts/cisqinfo/
Donald A. Epley: Department of Economics, Finance and Applied Legal Studies Mississippi State University Mississippi State, Mississippi 39762, http://www.msstate.edu/dept/finecon/

Journal of Real Estate Research, 1987, vol. 2, issue 1, 61-72

Abstract: The procedure developed in this paper uses a less biased statistical technique than conventional discriminant analysis and parallels the ranking procedure used by loan officers. A variety of univariate and multivariate statistical procedures as well as comprehensive validation methods are used to develop a "best" model. The resulting model provides more accurate classification than other studies have shown, without violating federal law regarding discrimination.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1987
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