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Keywords:Credit scoring systems 

Journal Article
New technology makes small business credit more available

Financial Update , Volume 18 , Issue Q 3

Conference Paper
The distribution of credit scores: findings and implications for the provision of financial services

Proceedings , Paper 564

Working Paper
Does credit scoring produce a disparate impact?

The widespread use of credit scoring in the underwriting and pricing of mortgage and consumer credit has raised concerns that the use of these scores may unfairly disadvantage minority populations. A specific concern has been that the independent variables that comprise these models may have a disparate impact on these demographic groups. By "disparate impact" we mean that a variable's predictive power might arise not from its ability to predict future performance within any demographic group, but rather from acting as a surrogate for group membership. Using a unique source of data that ...
Finance and Economics Discussion Series , Paper 2010-58

Journal Article
Did credit scores predict the subprime crisis?

One would think that credit scores would be a predictor of who would default on a subprime mortgage. But that doesn't seem to be the case.
The Regional Economist , Issue Oct , Pages 12-13

Working Paper
Credit scoring and loan default

This paper introduces a measure of credit score performance that abstracts from the influence of ?situational factors.? Using this measure, we study the role and effectiveness of credit scoring that underlied subprime securities during the mortgage boom of 2000-2006. Parametric and nonparametric measures of credit score performance reveal different trends, especially on originations with low credit scores. The paper demonstrates an increasing trend of reliance on credit scoring not only as a measure of credit risk but also as a means to offset other riskier attributes of the origination. This ...
Working Papers , Paper 2011-040

Working Paper
Bankruptcy exemptions, credit history, and the mortgage market.

We develop and test a model of mortgage underwriting, with particular reference to the role of credit bureau scores. In our model scores are used in a standardized fashion, which reflects the prevalence of automated underwriting in industry practice. We show that our model has implications for the debate on the effect of personal bankruptcy exemptions on secured lending. Recent literature (Berkowitz and Hynes (1999), Lin and White (2001)) has developed conflicting theories?and found conflicting results?seeking to explain how exemptions affect the mortgage market. ; By contrast, our model ...
Working Papers , Paper 04-14

Journal Article
Study looks at large banks' use of small business credit scoring

Financial Update , Volume 14 , Issue Jul , Pages 7

Journal Article
What's the point of credit scoring?

Credit scoring is already widely used for consumer lending and is becoming more commonly used in mortgage lending. Now, small business lending is getting into the scoring act. What does this mean for the commercial loan industry? And will it benefit small businesses? In this article, Loretta Mester explains the basics of credit scoring, discusses some of the models used, and looks at some of the implications of the wider use of credit scoring.
Business Review , Issue Sep , Pages 3-16

Conference Paper
Credit scoring and securitization of small business loans

Proceedings , Paper 765

Discussion Paper
Securitization and moral hazard: evidence from a lender cutoff rule

Credit score cutoff rules result in very similar potential borrowers being treated differently by mortgage lenders. Recent research has used variation induced by these rules to investigate the connection between securitization and lender moral hazard in the recent financial crisis. However, the conclusions of such research depend crucially on understanding the origin of these cutoff rules. We offer an equilibrium model in which cutoff rules are a rational response of lenders to per-applicant fixed costs in screening. We then demonstrate that our theory fits the data better than the main ...
Public Policy Discussion Paper , Paper 09-5


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