Table 4 Regressions results
From: Fintech platforms: Lax or careful borrowers’ screening?
(1) | (2) | (3) | ||||
|---|---|---|---|---|---|---|
Low-prudence | Medium | Low-prudence | Medium | Low-prudence | Medium | |
Not verified | 0.769*** (0.00433) | 0.598*** (0.00626) | 0.637*** (0.00349) | 0.468*** (0.00479) | ||
Income div. 5000 | 0.915*** (0.00591) | 0.898*** (0.00966) | ||||
Income div.10,000 | 0.989*** (0.00702) | 0.960*** (0.0114) | ||||
Loan amount div. 5000 | 1.089*** (0.00717) | 1.133*** (0.0124) | ||||
Loan amount div. 10,000 | 0.791*** (0.00652) | 0.718*** (0.0100) | ||||
Length of title | 0.975*** (0.00657) | 0.924*** (0.0101) | ||||
Suspect empl. length | 1.046*** (0.00634) | 1.024*** (0.0103) | ||||
ln(Loan amount) | 0.00408*** (0.000296) | 0.00361*** (0.000461) | 0.0053*** (0.000476) | 0.00446*** (0.000686) | ||
Loan amount2 | 1.390*** (0.00542) | 1.410*** (0.00960) | 1.379*** (0.00655) | 1.408*** (0.0115) | ||
Debt to income ratio^α | 1.036*** (0.000300) | 1.039*** (0.000483) | 1.037*** (0.000309) | 1.039*** (0.000501) | 1.038*** (0.000372) | 1.042*** (0.000601) |
Months since recent inquires | 0.981*** (0.000432) | 0.964*** (0.000736) | 0.982*** (0.000429) | 0.966*** (0.000733) | 0.981*** (0.000528) | 0.965*** (0.000891) |
Revolving utilitation | 0.0753*** (0.000850) | 0.0674*** (0.00115) | 0.0867*** (0.000963) | 0.0798*** (0.00134) | 0.0935*** (0.00130) | 0.0990*** (0.00208) |
Account open | 0.975*** (0.000771) | 0.983*** (0.00120) | 0.970*** (0.000768) | 0.980*** (0.00120) | 0.983*** (0.000947) | 0.997* (0.00146) |
Delinquencies in last 2 years | 0.710*** (0.00305) | 0.701*** (0.00477) | 0.694*** (0.00298) | 0.687** (0.00465) | 0.707*** (0.00366) | 0.704*** (0.00564) |
Home mortgaged | 0.983** (0.00665) | 0.858*** (0.00955) | ||||
Home owned^α | 1.084*** (0.0110) | 1.077*** (0.0175) | ||||
Employment length^α | 1.015*** (0.000743) | 1.014*** (0.00124) | ||||
Loan purpose: vacation^α | 0.901*** (0.0308) | 0.892*** (0.0495) | ||||
Loan purpose: credit card | 0.289*** (0.00423) | 0.205*** (0.00516) | ||||
Loan purpose: debt consolidation | 0.525*** (0.00493) | 0.449*** (0.00651) | ||||
Loan purpose: small business | 1.426*** (0.0334) | 1.481*** (0.0458) | ||||
Loan purpose: Home improvement | 0.662*** (0.00882) | 0.569*** (0.0120) | ||||
Year | 0.899*** (0.00163) | 0.895*** (0.00268) | ||||
3-digit zip code | Yes | Yes | ||||
Observations | 1,558,546 | 1,558,546 | 1,558,546 | 1,558,546 | 1,053,512 | 1,053,512 |