Inside the $13T Mortgage Machine
Show Notes
The $13T U.S. mortgage market serves 50M homeowners but still runs on decades-old software.
In this episode, a16z GP Angela Strange hosts Tim Mayopoulos (ex-CEO of Fannie Mae and ex-president of Blend), Mike Yu (co-founder and CEO of Vesta), and Andrew Wang (co-founder and CEO of Valon) to unpack why standardization and regulation slow change, and how modern loan-origination and servicing platforms, cleaner data, and AI can cut costs, boost transparency, and reduce errors. They also discuss policy levers that could speed innovation and what a true one-tap mortgage could look like.
Timecodes:
Introduction
The Scale and Structure of the US Mortgage Market
Why Mortgage Tech is Slow to Change
Challenges of Standardization and Regulation
The Human Side of Home Buying
Old Software and Its Impact on Homeowners
Data Transparency and Capital Markets
Building New Mortgage Infrastructure: LOS and Servicing
Operational Challenges and Opportunities in Servicing
Driving Digital Adoption at Fannie Mae
Modernizing Data and Appraisals
Core Replacement vs. Wrappers: Tech Strategies
AI in Mortgage: Today and Tomorrow
AI, Regulation, and the Future of Compliance
Advice for Lenders Preparing for an AI Future
Visions for the Future of Mortgages
Resources:
Find Angela on X: https://x.com/astrange
Find Tim on LinkedIn: https://www.linkedin.com/in/timothy-j-mayopoulos-56972a45/
Find Andrew on LinkedIn: https://www.linkedin.com/in/wangandrewd/
Find Mike on LinkedIn: https://www.linkedin.com/in/mikeyu1/
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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.
Stay Updated:
Find a16z on X
Find a16z on LinkedIn
Listen to the a16z Show on Spotify
Listen to the a16z Show on Apple Podcasts
Follow our host: https://twitter.com/eriktorenberg
Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.
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