Mike Yu

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Mayopoulos, former CEO of Fannie Mae, Mike Yu, co-founder of Vesta, and Andrew Wang, co-founder of Valon, dive into the outdated tech plaguing the $13T mortgage market.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.

Mike Yu, co-founder and CEO of Vesta, discusses the surprising challenges of mortgage refinancing in the digital age. He highlights why securing a mortgage isn't a simple one-click process, attributing it to outdated IT systems and strict regulations. The conversation delves into the complexities of integrating modern technologies like AI and blockchain into legacy platforms and how institutional inertia hinders progress. Yu emphasizes the urgent need for streamlined processes and better data sharing to enhance the homeowner experience.