Items Tagged with 'University of California, Berkeley'


  • Study: Minority homebuyers pay higher interest rates

    Algorithmic strategic pricing targets those less likely to shop around
    African American and Latino borrowers continue to pay higher interest rates on their mortgages – even when the loan is completed online. A recent study by the University of California Berkeley revealed minority homebuyers pay up to half a billion dollars more in interest every year than white borrowers with comparable credit scores. The study asserts that in the fintech era, the mode of lending discrimination has shifted from human to algorithmic bias.
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  • FHA Commissioner Carol Galante to step down

    Industry applauds her positive impact on housing
    After years of helping the economy recover from the financial crisis through her role as commissioner at the Federal Housing Administration, Galante announced her decision to leave the U.S. Department of Housing and Urban Development. She will return to California to start teaching at the University of California, Berkeley in January.
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