Here’s one for you: How many fintech companies does it take to reduce the cost to originate a loan? There’s no great punchline to throw in here — only the sobering fact that it cost a record high of $13,171 to originate a loan in the first quarter of 2023, according to Fannie Mae’s recent lender sentiment survey.

Still, the FHFA set out to answer this question by gathering more than 60 companies together in Washington, D.C. for the inaugural Velocity TechSprint in July. This hackathon of sorts had a single goal: determine the best solution details ⇒

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