Mortgage Tech 101: What It Is & Why It’s Taking Off Now

Dec 07 18:12 2017 Print This Article

By the end of 2017, nearly $1.8T worth of mortgages will have been originated in the United States this year, according to government-backed mortgage lender Freddie Mac.

Yet, despite the size of the mortgage industry, the space still hasn’t digitized. Originating, processing, and underwriting a home loan with a large bank lender still requires faxes and snail mail and take almost as long as it did 20 years.

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Given the size and profitability of the industry, mortgages have lately become a prime target for tech entrepreneurs and venture capitalists.

The impact of tech on the mortgage market is still in the early innings. In this analysis, we examine what mortgage tech is, what its impact will be on incumbent players and fintechs, and the key drivers creating a big opportunity in mortgages now.

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CB Insights

CB Insights analyzes data on private companies in emerging industries to provide predictive intelligence on company health and strategy, investor performance and technology adoption trends. They aggregate and analyze massive amounts of data and use machine learning, algorithms and data visualization to help corporations replace search engines, and corporate financial institutes, so they can answer massive strategic questions using probability not punditry. With backing from the National Science Foundation and venture capital investors, CB Insights mines terabytes of data and knowledge contained in patents, venture capital financings, M&A transactions, hiring, startup and investor websites, news sentiment, social media chatter, hiring activity and more.

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