The results of our 2024 TechSprint are in! Congratulations to the teams that were recognized for best generative AI use case and control measure in one of our four focus areas. 1. Team Open Angels was recognized for best Consumer Experience idea: standardizing of the rental application process to provide a digital and transparent experience for tenants and property managers 2. Team AI-STRONAUTS was recognized for best Assessing Creditworthiness idea: identifying homeowners experiencing financial hardship and potential solutions to enable them to maintain their creditworthiness. 3. Team FAIR was recognized for best Operations idea: reconciling and summarizing borrower documents to identify anomalies and recommend action steps for lenders and agencies underwriting a multifamily deal. 4. And Team Arsenal was recognized for best Risk Management and Compliance idea: identifying potential gaps in Americans with Disabilities Act (ADA) compliance in multifamily buildings to ensure enterprise purchases are ADA compliant. FHFA thanks everyone who participated for making the event such a success. Looking forward to seeing everyone at our next TechSprint! (Note: The picture is of our Deputy Director Anne Marie Pippin, Esq., CGFM and Chief AI Officer Tracy Stephan with all of the teams that were recognized today). #fhfatechsprint #ai #generativeAI #innovation #fhfa #techsprint
Federal Housing Finance Agency
Government Administration
Washington, DC 53,818 followers
FHFA is regulator and conservator of Fannie Mae & Freddie Mac and regulator of the Federal Home Loan Bank System
About us
The Federal Housing Finance Agency (FHFA) is an independent government agency responsible for overseeing $6.2 trillion in the housing finance marketplace. FHFA’s mission is to ensure a stable and reliable source of funding for homeownership in the United States by regulating Fannie Mae, Freddie Mac and the Federal Home Loan Bank System. FHFA has acted as conservator of Fannie Mae and Freddie Mac since September 2008. As a member of the Financial Stability Oversight Council, FHFA collaborates with other regulators to create the market rules that protect and balance the interests of all stakeholders in the housing finance system, including banks, investors, and homeowners. FHFA Privacy Policy: go.usa.gov/kQh9
- Website
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http://www.fhfa.gov
External link for Federal Housing Finance Agency
- Industry
- Government Administration
- Company size
- 501-1,000 employees
- Headquarters
- Washington, DC
- Type
- Government Agency
- Founded
- 2008
Locations
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Primary
400 7th Street SW,
Washington, DC 20219, US
Employees at Federal Housing Finance Agency
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Hadi Reza, PMP, AMP
Passionate about Program and Project management; assisting organizations in achieving their Strategic Goals.
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Kulwant Sharma, CFA, PRM
Senior Examiner and Capital Markets Advisor
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Phillip Millman
Structured Fixed Income Professional and Editorial Board member
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Nicholas Satriano
Updates
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Last day to prepare for Demo Day! Stakeholders from across the housing ecosystem are putting the finishing touches on their use cases and generative AI control measures. Ideas range from monitoring compliance with federal, state, and enterprise requirements; to translating mortgage disclosures into multiple languages; to identifying potential gaps in ADA compliance in multifamily buildings. Register for the livestream to hear all the ways our teams believe generative AI can help improve single-family and multifamily housing tomorrow. #fhfatechsprint #generativeai #innovation #ai #techsprint https://lnkd.in/ei_a6iS2
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Our first full day of sprinting! Out of all the areas our teams are exploring at our 2024 TechSprint, risk and compliance is off to an early lead by getting a lot of attention. Is this an indication of the potential for generative AI to mitigate risk in the housing industry? Or will other areas of focus emerge? Register for the livestream to find out on Thursday (Demo Day). #fhfatechsprint #ai #generativeAI #innovation #techsprint https://lnkd.in/eTSdNrCG
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And we're off! FHFA Director Sandra Thompson opened our second TechSprint, GenerativeAI in Housing Finance, today by emphasizing the critical juncture at which we’ve arrived—a time when we are faced with historic housing challenges and when the potential for technology to either solve or exacerbate these challenges is accelerating exponentially. NFHA's Lisa Rice and Urban Institute's Laurie Goodman offered ways to thread that needle and harness generativeAI for good. Register to livestream Demo Day on Thursday to find out which generativeAI solutions will make the cut! https://lnkd.in/eTSdNrCG #fhfatechsprint #generativeai #innovation #ai #techsprint
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A recent blog by FHFA economists shows a 14 percent ($270) increase in the average required monthly payment between the start of 2022 and the end of 2023 for all U.S. homeowners with a mortgage. This figure translates to about a 2 percent quarterly growth rate in their housing outlay, but the increases were substantially higher for new mortgages than continuing mortgages. https://lnkd.in/ddfqi48P
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It’s almost showtime! Last call to register to livestream Opening Day (Monday, July 22) and Demo Day (Thursday, July 25) of our 2024 TechSprint! We’re bringing the brightest minds in technology, housing, policy, and academia together to address historic challenges in housing and explore the potential and risks of generative ai. #fhfatechsprint #generativeai #innovation #ai #techsprint https://lnkd.in/eTSdNrCG
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A new blog post from FHFA economists using the Uniform Appraisal Dataset Public Use File show that the share of appraisals for Enterprise-backed mortgages with five or more comparable sale properties differed considerably across states, ranging from 34 percent in Mississippi to 90 percent in California. The blog also links to the R code used for the charts and a Tableau dashboard. https://lnkd.in/eqGXs65q
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Join us! FHFA is seeking a Chief Operating Officer to lead and manage the Office of the Chief Operating Officer and subordinate offices with overall responsibility for the administrative functions of the Agency. Apply by Tuesday, July 30! https://lnkd.in/eZ9Pq6TY
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FHFA is one of six federal regulatory agencies who today issued a final rule, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, designed to help ensure the credibility and integrity of models used in valuations for certain mortgages secured by a consumer’s principal dwelling. In particular, the rule will implement quality control standards for automated valuation models (AVMs) used by mortgage originators and secondary market issuers in valuing those homes. The final rule is substantially similar to the proposal issued in June 2023. https://lnkd.in/ePBtrmwj
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The Generative AI in Housing Finance TechSprint is next week, July 22 to July 25! Which team’s ideas will be recognized on Demo Day? Our panel of judges will decide— Michael Akinwumi, Chief Responsible AI Officer, National Fair Housing Alliance (NFHA); Jan Davis, Vice President of Operations at MISMO; Melissa Koide, CEO, FinRegLab; Michael Neal, Senior Fellow, Housing Finance Policy Center at the Urban Institute; and Jeffrey Walker, Co-Founder and CEO, CredEvolv. Register now for the livestream. #fhfatechsprint #generativeai #innovation #ai #techsprint https://lnkd.in/eTSdNrCG