1、RESEARCH REPORT Harnessing Artificial Intelligence for Equity in Mortgage Finance Michael Neal Linna Zhu Caitlin Young Vanessa Gail Perry Matthew Pruitt November 2023 HOUSING FINANCE POLICY CENTER ABOUT THE URBAN INSTITUTE The Urban Institute is a nonprofit research organization that provides data a

2、nd evidence to help advance upward mobility and equity.We are a trusted source for changemakers who seek to strengthen decisionmaking,create inclusive economic growth,and improve the well-being of families and communities.For more than 50 years,Urban has delivered facts that inspire solutionsand thi

3、s remains our charge today.ABOUT THE FEDERAL HOME LOAN BANK OF SAN FRANCISCO The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona,California,and Nevada build strong communities,create opportunity,and change lives for the better.The tools and res

4、ources we provide to our member financial institutionscommercial banks,credit unions,industrial loan companies,savings institutions,insurance companies,and community development financial institutionsfoster homeownership,expand access to quality housing,seed or sustain small businesses,and revitaliz

5、e whole neighborhoods.Together with our members and other partners,we are making the communities we serve more vibrant and resilient.Copyright November 2023.Urban Institute.Permission is granted for reproduction of this file,with attribution to the Urban Institute.Cover image by Tim Meko.Contents Ac

6、knowledgments iv Executive Summary v Harnessing Artificial Intelligence 1 The Potential of AI in Mortgage Finance 8 AI throughout the Mortgage Life Cycle 13 How Can AI Embed Discrimination into the Mortgage System?23 The AI Ecosystem 31 Recommendations to Advance Racial Equity through AI 38 Notes 45