{"id":5291,"date":"2022-05-12T17:03:48","date_gmt":"2022-05-12T21:03:48","guid":{"rendered":"https:\/\/nationalfairhousing.org\/?p=5291"},"modified":"2022-05-12T17:05:24","modified_gmt":"2022-05-12T21:05:24","slug":"fairness-of-machine-learning-in-credit-underwriting-models","status":"publish","type":"post","link":"https:\/\/nationalfairhousing.org\/fairness-of-machine-learning-in-credit-underwriting-models\/","title":{"rendered":"Fairness of Machine Learning in Credit Underwriting Models"},"content":{"rendered":"\n\n    <div class=\"container-fluid pt-md\">\n        <div class=\"row justify-content-lg-center cms-styles\">\n            <div class=\"col-lg-8 col-xl-7\">\n                <!--Video-->\n                <div data-toggle=\"modal\" data-target=\"#video-modal-block_627d75c12c8bb\" class=\"card-image gradient-overlay-gray is-video border-rounded\">\n                                            <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nationalfairhousing.org\/wp-content\/uploads\/2022\/05\/Screen-Shot-2022-05-12-at-2.02.54-PM.png\" alt=\"\" class=\"img-responsive\" height=\"1572\" width=\"2880\">\n                    \n                                            <h3 class=\"card-title-overlay color-white has-ellipsis\">Fairness of Machine Learning in Credit Underwriting Models<\/h3>\n                                    <\/div>\n\n                            <\/div>\n        <\/div>\n    <\/div>\n\n    \n        <div id=\"video-modal-block_627d75c12c8bb\" class=\"modal fade video-modal\" tabindex=\"-1\" role=\"dialog\">\n            <div class=\"modal-dialog\" role=\"document\">\n                <div class=\"modal-content\">\n                    <button type=\"button\" class=\"close\" data-dismiss=\"modal\" aria-label=\"Close\">\n                        <span aria-hidden=\"true\">&times;<\/span>\n                    <\/button>\n                    <div class=\"modal-body\">\n                        <figure class=\"iframe-video\">\n                            https:\/\/www.youtube.com\/watch?v=2PdSTHEMA9o                        <\/figure>\n                    <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n\n    \n\n\n\n<p class=\"content-wrap-item post__paragraph\">FinRegLab hosted a virtual conference on April 28, 2022, featuring research being conducted by FinRegLab and Professors Laura Blattner and Jann Spiess of the Stanford Graduate School of Business on the use of machine learning in credit underwriting, with a particular focus on their potential implications for explainability and fairness. Serious questions exist about the ability of lenders to deploy machine learning underwriting models that meet anti-discrimination and equity expectations. The panel discussed concerns that the use of machine learning underwriting models will increase fair lending risks. Panel members also discussed specific approaches to improving the fairness of underwriting models, such as defining a framework for making fairness-performance tradeoffs and prospects for adversarial debiasing. Speakers Michael Akinwumi, Chief Tech Equity Officer, National Fair Housing Alliance Sri Satish Ambati, CEO and Co-Founder, H2O.ai Jay Budzik, CTO, Zest AI Nick Schmidt, CEO, SolasAI Moderator P-R Stark, Director of Machine Learning Research, FinRegLab<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FinRegLab hosted a virtual conference on April 28, 2022, featuring research being conducted by FinRegLab and Professors Laura Blattner and Jann Spiess of the Stanford Graduate School of Business on the use of machine learning in credit underwriting, with a particular focus on their potential implications for explainability and fairness. Serious questions exist about the [&hellip;]<\/p>\n","protected":false},"author":433,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-5291","post","type-post","status-publish","format-standard","hentry","category-ai-tech-equity"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fairness of Machine Learning in Credit Underwriting Models - NFHA<\/title>\n<meta name=\"description\" content=\"FinRegLab hosted a virtual conference on April 28, 2022, featuring research being conducted by FinRegLab and Professors Laura Blattner and Jann Spiess of the Stanford Graduate School of Business on the use of machine learning in credit underwriting, with a particular focus on their potential implications for explainability and fairness. Serious questions exist about the [&hellip;]\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalfairhousing.org\/fairness-of-machine-learning-in-credit-underwriting-models\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fairness of Machine Learning in Credit Underwriting Models - NFHA\" \/>\n<meta property=\"og:description\" content=\"FinRegLab hosted a virtual conference on April 28, 2022, featuring research being conducted by FinRegLab and Professors Laura Blattner and Jann Spiess of the Stanford Graduate School of Business on the use of machine learning in credit underwriting, with a particular focus on their potential implications for explainability and fairness. Serious questions exist about the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalfairhousing.org\/fairness-of-machine-learning-in-credit-underwriting-models\/\" \/>\n<meta property=\"og:site_name\" content=\"NFHA\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-12T21:03:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-12T21:05:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalfairhousing.org\/wp-content\/uploads\/2022\/03\/NFHA_full_purple.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Rachel VanArsdale\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rachel VanArsdale\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalfairhousing.org\/fairness-of-machine-learning-in-credit-underwriting-models\/\",\"url\":\"https:\/\/nationalfairhousing.org\/fairness-of-machine-learning-in-credit-underwriting-models\/\",\"name\":\"Fairness of Machine Learning in Credit Underwriting Models - NFHA\",\"isPartOf\":{\"@id\":\"https:\/\/nationalfairhousing.org\/#website\"},\"datePublished\":\"2022-05-12T21:03:48+00:00\",\"dateModified\":\"2022-05-12T21:05:24+00:00\",\"author\":{\"@id\":\"https:\/\/nationalfairhousing.org\/#\/schema\/person\/64e3544bbe22ab5e14209fcb54763103\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalfairhousing.org\/fairness-of-machine-learning-in-credit-underwriting-models\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalfairhousing.org\/fairness-of-machine-learning-in-credit-underwriting-models\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalfairhousing.org\/fairness-of-machine-learning-in-credit-underwriting-models\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalfairhousing.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fairness of Machine Learning in Credit Underwriting Models\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalfairhousing.org\/#website\",\"url\":\"https:\/\/nationalfairhousing.org\/\",\"name\":\"NFHA\",\"description\":\"National Fair Housing Alliance\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalfairhousing.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalfairhousing.org\/#\/schema\/person\/64e3544bbe22ab5e14209fcb54763103\",\"name\":\"Rachel VanArsdale\",\"url\":\"https:\/\/nationalfairhousing.org\/author\/rachelvanarsdale\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fairness of Machine Learning in Credit Underwriting Models - NFHA","description":"FinRegLab hosted a virtual conference on April 28, 2022, featuring research being conducted by FinRegLab and Professors Laura Blattner and Jann Spiess of the Stanford Graduate School of Business on the use of machine learning in credit underwriting, with a particular focus on their potential implications for explainability and fairness. 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