Artificial Intelligence and Algorithmic Lending Have the Potential to Reduce Discrimination in Mortgage Lending – White Paper March 2021

It is widely accepted that the key ingredient to accumulating wealth in the U.S. is home ownership.  Unfortunately, racial discrimination in the housing and lending industry has limited the ability of minority populations, particularly African Americans, to participate in this traditional means of wealth-building.  While the traditional housing finance system has a long history of discriminatory actions against African Americans and other minorities, the creation and deployment of technologies that remove much of the human element has been a path toward reducing discrimination in the system.  But, the question remains, can evolving artificial intelligence (AI) and algorithmic lending help address the systemic challenges of discrimination in the housing sector by shrinking and potentially eliminating racial bias in mortgage lending?

To download a pdf copy of this white paper click the link below:
FSIC and CIR – AI and Mortgage Lending White Paper March 2021