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June 25, 2018

How Is Technology Changing the Mortgage Market?

Andreas Fuster, Matthew Plosser, and James Vickery

The adoption of new technologies is transforming the mortgage industry. For instance, borrowers can now obtain a mortgage entirely online, and lenders use increasingly sophisticated methods to verify borrower income and assets. In a recent staff report, we present evidence suggesting that technology is reducing frictions in mortgage lending, such as reducing the time it takes to originate a mortgage, and increasing the elasticity of mortgage supply. These benefits do not seem to come at the cost of less careful screening of borrowers.

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Posted at 7:00 am in Financial Intermediation, Mortgages | Permalink

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