“Big data” is a hot topic these days, especially in the financial industry. We know plenty about big data. At Freddie Mac, we have 40+ years of historical data—drawn from millions of mortgage records. But big data alone doesn’t deliver innovation. It’s what you do with it that matters.
Freddie Mac is showcasing why it’s among the most innovative technology companies in housing. It’s leveraging big data and advanced analytics to build game-changing solutions into Loan Advisor Suite, with new capabilities in Loan Product Advisor — its next-generation, automated underwriting solution.
He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.
One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.
Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.