题目：Partisan Loan Officers and the Racial Gap in Mortgage Lending

时间：2025年6月24日（星期二）10：00

地点：经管楼1205室

主讲人：褚勇强 教授，美国北卡罗来纳大学夏洛特分校

摘要：Using a novel data set that matches the voter registration records of mortgage loan officers with lending data, I find that Democratic loan officers originate 30% more loans to minority borrowers than Republican loan officers. The results hold after controlling for loan officer location and demand-side factors. At the loan level, Democratic loan officers are more likely to originate loans with higher debt-to-income ratios to minority borrowers than Republican loan officers. Loans to minority borrowers originated by Democratic loan officers have a lower overall cost and perform better than those originated by Republican loan officers. These results suggest that Democratic loan officers collect and process more soft information to help minority borrowers overcome deficiencies in hard information, thereby expanding mortgage access for minority borrowers. These findings highlight how political ideology shapes economic outcomes through discretionary decision-making by financial intermediaries.

嘉宾简介：褚勇强是北卡罗来纳大学夏洛特分校Belk商学院Childress Klein房地产中心主任、Childress Klein房地产与城市经济学杰出教授和金融学教授。褚勇强的研究领域涵盖房地产、公司金融和银行业。他的研究成果发表于众多顶级金融、房地产和经济学期刊，包括Journal of Finance, Review of Financial Studies, Journal of Financial Economics, Management Science, Journal of Financial and Quantitative Analysis, Review of Economic Dynamics, and Real Estate Economics等。褚勇强拥有北京大学学士学位、新加坡国立大学硕士学位和威斯康星大学麦迪逊分校博士学位。加入北卡罗来纳大学夏洛特分校之前，他曾担任南卡罗来纳大学Darla Moore商学院副教授。