Mortgage fairness for Black and Native Americans is no better today than it was 30 years ago, according to a new mortgage fairness report.
The report, issued by “fairness-as-a-service” solution firm FairPlay AI, was based on a study of more than 350 million mortgage applications from 1990 to 2021. The applications were obtained from public data in the Home Mortgage Disclosure Act (HDMA).
Fairplay used the industry standard metric Adverse Impact Ratio (AIR), which compares the rate of approval for protected status applicants to a control group. For instance, if protected class applicants had a 60% approval rate details ⇒
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