Bias in Mortgage Approval Algorithms

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Authors

Carter Steckbeck '22, Hamilton College

Type of Work

Poster

Publication Date

4-2022

Description

In recent years, financial institutions are using machine learning algorithms for the mortgage approval process. Utilizing hundreds of complex variables, they decide whether an applicant gets approved. Recent studies have shown that people of color are disproportionately denied at higher rates for mortgages compared to White individuals.

Hamilton Areas of Study

Mathematics

Hamilton Course

MATH-498: Mathematics in Social Context

Hamilton Faculty Advisor

Courtney Gibbons