July 18, 2022

FHFA: Office of Financial Technology Announced

Agency issues request for information on the role of technology in housing finance

The Federal Housing Finance Agency (FHFA) today announced the establishment of the Office of Financial Technology. This Office will serve as a centralized source of information to support FHFA in addressing emerging risks and advancing Agency priorities related to the adoption and deployment of financial technology (fintech).

“When used responsibly, fintech has the potential to improve borrowers’ experiences with the mortgage process by reducing barriers, increasing efficiencies, and lowering costs,” said Director Sandra L. Thompson. “The new office will help advance effective risk management as FHFA evaluates applications of fintech in housing finance, as well as in compliance, and regulatory activities.”

In particular, the Office will: 

In conjunction with the establishment of the Office of Financial Technology, FHFA is soliciting public input on the role of technology in housing finance, broadly seeking to understand the current landscape of innovation throughout the mortgage lifecycle and related processes, risks, and opportunities. FHFA invites feedback on all aspects of the Request for Information within 90 days of publication, no later than October 16​, 2022. Input should be submitted electronically or via mail to the Federal Housing Finance Agency, Office of the Director, 400 7th Street, S.W., 10th floor, Washington, D.C., 20219.


Fintech in Housing Finance Request for Information

This post was originally published here.