An Indirect Test for Differential Treatment of Borrowers in Mortgage Markets

William B. Shear and Anthony Yezer

Real Estate Economics, 1982, vol. 10, issue 4, 405-420

Abstract: The indirect test implemented in this paper is based on the economics of discrimination which hypothesizes that differential treatment of borrowers, on the basis of age, race, sex, or property location, at any stage of the mortgage transaction, including prescreening, results in segregation of those getting less favorable treatment. Borrowers who perceive that they are receiving less favorable treatment based on age, race, sex, or property location would be segregated into the FHA‐in‐sured sector. Estimates of an FHA participation equation show no evidence of such segregation by sex, race, or center city property location. Younger borrowers do appear to be differentially concentrated in the FHA programs.

Date: 1982
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