The application period is open for the inaugural tech sprint hosted by the Federal Housing Finance Agency’s Office of Financial Technology. The program, titled “Velocity: Securing the free and fair flow of data,” will bring together experts and practitioners from the technology and mortgage finance sectors to propose solutions for reducing mortgage costs and delivery times, while also creating a more inclusive and transparent process, according to the agency.
The tech sprint will run from July 10-13 at FHFA’s Constitution Center headquarters in Washington, D.C., and will include intensive, in-person collaboration, along with several publicly available live-streamed panels and presentations. The application period ends May 31.
“Over the past decade, mortgage origination costs have doubled, while delivery times have remained largely unchanged,” said FHFA Director Sandra Thompson. “When used responsibly, technology has the potential to improve borrowers’ experiences by reducing barriers, increasing efficiencies and lowering costs.”