CEO of Block66, Joe Markham, sits down to discuss how they are breathing life into the mortgage industry with a platform that utilizes Blockchain Technology to streamline the process and provide transparency through the lending process.
The mortgage lending industry has faced its share of problems – from fraud, to lengthy application, approval and funding. Block66 aims to be the first platform offering a thoroughly scrutinized collection of borrowers, pulling applicants’ financial and personal information such as pay stubs, tax documents and credit information directly from the source and uploading and storing it on the Blockchain. The idea is to make the entire process much more streamlined and it should lower the costs, as well as the risk to lenders. Each loan is featured as a pool of “proof of loan” (PoL) tokens that is then resold to investors, giving the lenders liquidity and allowing a credible and vetted group of investors to participate.
Join us for an interesting look at the way Blockchain Technology is innovating the mortgage lending process.