FHFA Moves to Examine Fintechs in Housing Finance

On July 18, 2022, the Federal Housing Finance Agency (“FHFA”) announced the establishment of the Office of Financial Technology, which “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).”

This will be achieved by the Office’s engagement with “market participants, industry, nonprofits, consumer groups, and academia” and facilitating an interagency collaborative relationship amongst regulators and regulated entities to enable the dissemination of information relating to housing finance fintech and innovation.

In addition to the establishment of the Office, the FHFA is soliciting public input as to the role of technology in housing finance in hopes of understanding the “current landscape of innovation throughout the mortgage lifecycle and related processes, risks, and opportunities.” The deadline for public comment is October 16, 2022.