Fannie Mae and Freddie Mac’s regulator imagines a future where, perhaps through artificial intelligence and machine learning, errors in mortgages are identified in real time before a loan is closed.

Automating compliance could make eligibility, as well as pricing and pooling decisions, and verify and validate that information.

But that scenario is a long way off. Although investors have poured an increasing amount of money into fintechs — $1.7 billion in 2021, up from $0.4 billion five years ago, per the Federal Housing Finance Agency — closing a mortgage loan has since gotten more expensive, not less.

The FHFA this week launched a details ⇒

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