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 Image Caption​​​​​FHFA 2024 TechSprint​
July 22-25, 2024
 2024 TechSprint: Generative AI in Housing Finance Policy Programs 2024 TechSprint: Generative AI in Housing Finance Affordable Housing & Community Investment Climate Change and ESG FHLBank System at 100: Focusing on the Future FHLBank System at 100: Report Implementation Duty to Serve Program Enterprise Housing Goals Fair Lending Oversight Program Financial Technology Fraud Prevention Velocity: A Tech Sprint from the Federal Housing Finance Agency Housing Finance Examiner Commission Program Loss Mitigation National Mortgage Database Program Neighborhood Stabilization Initiative (NSI)
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 About the FHFA Generative AI in Housing Finance TechSprint The FHFA Generative Artificial Intelligence (AI) in Housing Finance TechSprint will be an in-person, team-based problem-solving event hosted by the Federal Housing Finance Agency’s (FHFA) Office of Financial Technology (OFT). The TechSprint will bring together technology, regulatory, housing, and consumer finance experts to identify use cases and associated control measures to support the responsible use of generative AI in housing finance. Participants will be organized into TechSprint teams and work over a three-day period to solve for problem statements centered around the question: “How might the responsible use of generative AI promote a transparent, fair, equitable, and inclusive housing finance system, while fostering sustainable homeownership and rental opportunities?” The TechSprint culminates in a Demo Day where each team will present its ideas to an independent panel of judges drawn from subject matter experts in government, industry, nonprofits, and academia. The Generative AI in Housing Finance TechSprint will be held at FHFA’s Constitution Center headquarters in Washington, DC, and will run from July 22 to July 25, 2024. Applications to participate in the 2024 TechSprint are due by 5:00 PM ET on May 24, 2024. 
   Apply today! Additional information on the TechSprint, including the problem statements, is available below. FHFA Generative AI in Housing Finance TechSprint: Apply to Join the TechSprint FHFA invites all interested individuals to submit an application to participate in the Generative AI in Housing Finance TechSprint. Teams will be assembled into functional groups with diverse expertise and experience, including participants from fields such as housing finance, consumer financial services, technology, risk management, and compliance. Details of the application and selection process can be found in the 
   TechSprint Rules. All applicants are encouraged to review the TechSprint problem statements below and to indicate which statements they would be especially excited to work on solving. Apply today as a Participant or Observer of the TechSprint. Participants will be selected based on the TechSprint Rules.  If selected, participants will be offered the opportunity to participate in the In-Person Sprint Week and Demo Day as a member of a TechSprint team.  Please see the TechSprint ​Rules and TechS​print FAQs for more information.
   Observers can livestream Opening Day and Demo Day of the TechSprint.  Information on how to livestream will be provided to registered observers before the TechSprint’s Opening Day. FHFA Generative AI in Housing Finance TechSprint: Problem Statements **Umbrella Stateme​​nt​** Generative artificial intelligence (AI) has captured the imagination and interest of a diverse set of stakeholders, including industry, government, and consumers. For the housing finance system, the transformative potential of generative AI extends beyond technological advancement. Generative AI presents an opportunity to promote a housing finance system that is transparent, fair, equitable, and inclusive and fosters sustainable homeownership. Realizing this potential, however, is contingent on a commitment to responsible innovation and ensuring that the development and use of generative AI is supported by ethical considerations and safety and soundness. FHFA’s Generative AI in Housing Finance TechSprint challenges participants to address the question, 
   “How might the responsible use of generative AI promote a transparent, fair, equitable, and inclusive housing finance system while fostering sustainable homeownership and rental opportunities?”​ TechSprint participants will demonstrate: A key 
      **use case** for generative AI in one of the four areas of focus provided below; and
   Recommended 
      **control measures**, incorporating​ careful consideration of the associated risks. **Focused Statements**​ The four areas of focus are as follows: **Consumer Experience:** How might generative AI be used to further educate and empower prospective homebuyers in evaluating, comparing, and obtaining a mortgage loan and in sustaining their homeownership over time?
   **Assessing Creditworthiness:** How might generative AI be used to improve the evaluation of homebuyer credit, as well as the fairness of the credit decisions related to mortgage loans, particularly for homebuyers from underserved communities?
   **Operations:** How might generative AI be used to enhance the efficiency and effectiveness of operational processes within the housing finance system, from origination to servicing and secondary market activities?
   **Risk Management and Compliance:** How might generative AI be used to enhance the effectiveness of risk management and compliance processes within the housing finance system? **Have additional questions about the 2024 TechSprint?** Please contact OFT at 
   FinTech@FHFA.gov. To learn more about OFT, please visit 
   the OFT home page. And to learn more about FHFA’s inaugural TechSprint held in 2023, please visit the 
   Velocity TechSprint webpage.​​ *Page Last Updated: April 15, 2024​​​​​​​​​​​​​​​​​​​*
 
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