This brief provides a landscape analysis of how financial technology (Fintech) is impacting the way people buy, sell and finance their homes. We explore fintech’s impact in each of five phases (prebuying, buying and selling, mortgage searching, mortgage lending and postpurchase), describing the key players, the roles they play, and identifying gaps in fintech offerings. We explore why certain segments of the market might be less conducive to technology innovation and identify potential barriers (e.g., market, legal, or regulatory) to innovation. Although fintech has made visible contributions through process simplification and automation, it has made little progress toward easing structural barriers in the housing market, such as meaningfully expanding housing affordability and improving access to credit.
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