4 ms·

What are the default rates by race?

• MyHypatia 5y ago
  I don't think default rates by race should impact an individual's mortgage approval or rates. A responsible individual shouldn't be punished with less favorable loan terms because of their race. Why should they have to work harder as an individual to prove their credit-worthiness because they were born a certain race? That completely goes against the idea that hard-work and individual responsibility matter.
  • spoonjim 5y ago
    But the algorithm will find any correlations it can. If it is banned from using race it will amplify the weights on things that it can correlate.
• TheCoelacanth 5y ago
  Doesn't matter. Discriminating based on race is illegal for mortgage lenders because of the Fair Housing Act.