The Federal Housing Finance Agency recently announced the launch of a new Office of Financial Technology. The FHFA is the fourth agency to create a financial technology office. The goal of the new Office is to evaluate fintech developments in the housing finance space, with a focus on:
- Developing strategies to advance housing finance fintech and innovation in a safe, sound, responsible, and equitable manner;
- Engaging with market participants;
- Facilitating interagency collaboration; and
- Serving as a resource for innovation, general trends, and emerging risks in housing finance fintech.
As part of its launch, the FHFA issued a request for information (RFI) seeking public input on several things. The RFI’s focus is:
- The role of fintech in the environment in which residential mortgages are originated;
- Fintech’s role in the secondary market;
- Risks of using fintech; and
- Application of fintech to compliance and regulatory activities.
To read the Fintech in Housing Finance Request for Information, please click here.
To read the FHFA New Release, please click here.