The Secret Bias Hidden in Mortgage-Approval Algorithms

“We found that lenders gave fewer loans to Black applicants than White applicants even when their incomes were high—$100,000 a year or more—and had the same debt ratios. In fact, high-earning Black applicants with less debt were rejected more often than high-earning White applicants who have more debt.” Alternative credit scores are vital - Classic FICO disproportionately harms people of color.

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