FHFA Sharpens Focus on Fintech, Creates New Office
Industry Update
July 19, 2022
Source: mpamag.com
The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, has set up a new office that will enable FHFA to expand its focus on financial technology.
FHFA recently announced the establishment of the Office of Financial Technology, which the agency describes as a “centralized source of information” that will help accelerate FHFA’s adoption and deployment of 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 FHFA director Sandra Thompson.
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