A new research paper by The Office of Federal Housing Enterprise Oversight (OFHEO) documents the technological advances and challenges facing the single-family mortgage industry as it moves toward a more electronic future. The paper, entitled "The Single-Family Mortgage Industry in the Internet Era: Technology Developments and Market Structure," examines how improvements in computer and telecommunications technologies have altered the industry and streamlined the lending process for borrowers and lenders. The paper details the development of automated underwriting systems (AUSs) and how Fannie Mae and Freddie Mac have responded to and facilitated the adoption of technological innovations, including marketing AUSs to their lender-customers. The enterprises are also providing connectivity options to other related businesses, which in turn facilitate development of electronic commerce among mortgage firms and online mortgage originations. According to the OFHEO research paper, full...
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