Homelend - Decentralized P2P Mortgage Loans

noticierobitcoin (54)in #homelend • 6 years ago

There is no doubt that many people today dream of owning a home of their own, unfortunately due to the limited economic possibilities of people it is quite difficult to acquire one and unless you have tons of cash, the only way to acquire the home of your dreams is through a mortgage loan. The point is that securing a mortgage loan is also complicated and can be an incredibly long and tedious process, and many mortgage applications are rejected for one reason or another. Whatever the reason, every rejection means a dream that goes down the drain. Based on the above, from now on we will present you with an analysis of what seems to be a great project with an immense future. This project is called Homelend and it will certainly make its way as one of the best platforms in the sector and it is really worth it not to miss this analysis.

About Homelend

Homelend is a decentralized platform that enables the next generation of mortgage financing for homebuyers. Homelend creates an interface for direct interaction between borrowers, lenders and other parties involved in the mortgage value chain. In doing so, it enables crowdfunding of mortgages using a peer-to-peer model with the security, transparency and automation provided by distributed ledger technology (DLT) and smart contracts.

The Homelend platform is designed to modernize the current mortgage system to make it more functional, operationally effective, efficient and customer-centric. The platform will be more fabulous and pious in its operations. It will also expand people's ability to lend and borrow for a good home. This will suit them and their lifestyles. Therefore, your lifestyles or employers do not affect the loan or loan payment process that Homelend offers. This will be done through Ledge Distributed Technology (DLT) and crypto smart blockchain contracts. This will bring lenders and borrowers into harmony in a more streamlined automated process that will be transparent and modest for users.

Why Homelend?

Homelend is being developed as a block chain solution that will significantly increase the housing finance possibilities for many individuals and families. Our value proposition is socially sensitive and anchored in a progressive P2P approach that aims to use technology for the benefit of society. However, Homelend also relies on a solid and profitable business model, which consciously extends itself to address a neglected market. On the one hand, Homelend creates an investment opportunity for many people, with a solution that unites a traditional industry like real estate with innovative technology like blockchain. On the other hand, it makes it possible for many people (who due to various circumstances, including current limitations in traditional credit risk models,

- From manual and extensive to optimized and efficient

By incorporating predefined business logic into intelligent contracts, scanning documentation and eliminating unnecessary processes, Homelend will automatically run an end-to-end origin process, reducing it from 50 days to less than 20 days.

- From Ambiguous & Clunky to Transparent & User-Friendly

Homelend aims to create a loan process that is not only smart, but also simple and fair. It will allow borrowers to easily apply for a loan, track the status of their application at all times and interact directly with mortgage lenders.

- From Expensive to Profitable and Intermediary Free Intermediation

The immutability, security and transparency provided by DLT allow transactions, including loans, to be recorded without banks acting as intermediaries. This will reduce costs for borrowers and lenders, while minimizing the distance between them.

- From vulnerable and unreliable to reliable and secure

Centralization and paper-based processes are the key factors behind the insecurity and vulnerability that characterize the traditional mortgage industry. DLT's unique features and intelligent contracts enable Homelend to provide a platform for people to trade large amounts of money reliably, transparently and securely.

How Does the Platform Work?

Homelend connects borrowers and lenders in a unique way, controlled by intelligent contracts, without intermediaries. Borrowers will apply for mortgage loans through the Homelend Foundation. These applications will be evaluated and approved in advance (or not) with the help of artificial intelligence and automatic learning technology. On the basis of Homelend, the collection of information is done in a "fully digital" way. Even the data contained in the document must be transferred to the digital herbaceous plant archive based on scattered accounting technology. This data is provided by users and is carefully reviewed through professional verification providers.

Proposed Solution

Homelend provides a simple solution for consumers looking for financing options for their homes. With intelligent contracting technology, it brings transparency to the market where borrowing and lending parties are in direct communication on a single platform. By providing lenders with tools for background checks and analysis of potential borrowers, you build trust among the community of investors who are ready to bet on the platform based on blockchain technology.

The borrowers on the platform to choose from the long list of potential lenders and present their cases to the selected party. A digital wallet and a suitable profile is provided on the platform for each registered user. The option to select the currency to manage the transaction on the platform is provided to platform users. P2P mortgage loans are simplified on the platform. The creditworthiness of borrowers is decided through the use of advanced technologies, such as machine learning and data science.