FHFA plans competitions to seek fintech housing finance solutions

The Federal Housing Finance Agency plans to hold a series of “tech sprints” to solicit input on financial technology solutions that could benefit the housing market, but first will seek public comment on maximizing the information gleaned from the events, according to a draft public notice published today. FHFA envisions tech sprints as competitions in which participants are given “problem statements” associated with fintech in housing finance so they can come up with solutions to guide agency strategy. Two tech sprints are planned each year over the next three years. FHFA is seeking comment on ways to enhance the quality of the information collected from the competitions as well as how best to minimize the burden on individuals and sponsors in providing that information.