This piece misses a very fundamental truth with regards to mortgages and marketplace lending in the U.S. In the U.S. there is no such thing as a marketplace mortgage or even a proposed definition of such an instrument. There are a few sites that fund fix and flip homes for investors, but this is a niche product with very little ability to scale--and most likely will implode during a housing down turn. This year alone there will be upwards of $2T in newly originated mortgages. Half of these will be originated by non-banks (non-FDIC insured banks). The non-banks already use a high amount of technology and deliver loans to Fannie and Freddie as well as other investors. It is an efficient market which is getting more efficient every day. One can make the argument that marketplace mortgages are already here--there is a marketplace beyond banks for mortgages. I work with the mortgage industry. There isn't one executive staying up at night worrying about marketplace mortgages. They are in fact automating their own processes and adding new products on a regular basis. Eventually all financial products will be digital and the terms "fintech" and "marketplace lending" will fade away and we will be back to the future with the more appropriate term of "lending'.