Federal regulators who are supposed to be keeping a watchful eye on Fannie Mae's and Freddie Mac's financial activities have penned a woefully wordy and unimaginative dissertation about technology developments in mortgage origination. They needn't have bothered. The 45-page document, "The Single-Family Mortgage Industry in the Internet Era: Technology Developments and Market Structure," that the Office of Federal Housing Enterprise Oversight released Friday could be a decent if lengthy term on paper mortgage technology or an introductory text for Mortgage 101. But this historical review adds no new observations that haven't already been researched and reported elsewhere. Nor does it offer any new conclusions or thoughtful suggestions about the industry's implementation and use of techno...
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