Inside the $13T Mortgage Machine

268 snips

Sep 11, 2025

Guest

Andrew Wang

Tim Mayopoulos, former CEO of Fannie Mae, Mike Yu, co-founder of Vesta, and Andrew Wang, co-founder of Valon, dive into the outdated tech plaguing the $13T mortgage market. They discuss the slow pace of innovation driven by rigid regulations and the challenges of standardization. The trio explores how AI and modern infrastructure can cut costs and improve homeowner experiences. They envision a future with streamlined processes and data transparency, emphasizing the need for policy changes to speed up transformation in the mortgage industry.

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INSIGHT

Why Mortgages Move Slowly

The mortgage market's scale and government backing make it highly standardized and regulated, which slows innovation.
Standardization attracts global capital but prevents product experimentation and document changes without losing loans.

INSIGHT

Old Software Raises Costs And Stress

Old, fragmented systems raise origination costs and increase mortgage rates for consumers.
Better software reduces stress and speeds assistance processes like mortgage forbearance.

INSIGHT

Data Opacity Harms Capital Markets

Legacy infrastructure also creates opaque, lossy data flows that hurt capital markets and investor confidence.
Poor data transparency increases regulatory overhead and friction for new financial products.

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