How fintech lenders give mortgage borrowers an edge

With a housing market that’s the most competitive it’s been in years, home buyers need every advantage they can get. And for buyers who will rely on a mortgage to finance a home purchase, an online lender could provide them with that advantage.

Technology-based (or fintech) lenders have quickly expanded their market share since the Great Recession, and along the way they have developed efficiencies that give them a major advantage over more traditional lenders, according to a new working paper from researchers at the Federal Reserve Bank of New York and New York University, distributed Monday by the National Bureau of Economic Research.

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