The Impact of Minority Representation at Mortgage Lenders

This paper was previously circulated under the title “Minority Loan Officers and Minorities’ Access to Mortgage Credit.” For helpful comments we thank Sam Antill, Francesco D’Acunto, Will Dobbie, Mark Egan, Kristopher Gerardi, Paige Ouimet, James Vickery, and seminar participants at Brigham Young University, the University of Wisconsin–Madison, Southern Methodist University, and the Mortgage Bankers Association. We also thank conference participants at the Mid-Atlantic Research Conference in Finance and the SFS Cavalcade. The views expressed are those of the authors and not necessarily those of the Federal Reserve Bank of Dallas or any other entity within the Federal Reserve System. We are grateful to the Conference of State Bank Supervisors (CSBS) for granting us access to data from NMLS Consumer AccessSM, please see https://nmlsconsumeraccess.org/. The results and opinions are those of the authors and do not reflect the position of the CSBS. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.