MIAMI - The hallways at a recent mortgage technology conference here were abuzz with talk of Internet initiatives that may create competition for issuers of private-label, mortgage-backed securities and for Fannie Mae and Freddie Mac.

"People are building those sites now" as a way to "bypass the government-sponsored enterprises," or GSEs, said Patrick Mahaffey, executive vice president for sales at Brightware Inc. of Novato, Calif.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.