Mortgage

Why Prefer Blockchain Development for Mortgage?

Blockchain improves the effectiveness of credit limit increases and loan searches. It enhances the qualification verification process and expedites both the approval and underwriting processes. Leasing mortgage loans are processed more efficiently thanks to blockchain, which also provides transparent contract management. Requesting mortgage applications and loans now takes less time, and exchanging documents and information with the right people is simpler with visibility to disclosure. A due diligence committee can be established with the aid of blockchain to assess applications fast. Most importantly, blockchain lowers the processing charge for mortgages while maintaining the additional value of authorized loans or credit. Without the use of a middleman, assets and title trades can be completed at better pricing. It is now simpler than ever to transfer ownership between buyers and sellers and keep track of it. With private keys, one can evaluate requests made and verify the purchasers' offers to sign contracts. With blockchain, your mortgage business will be able to directly engage with customers and establish a pricing with consensus, allowing you to build your own competition. Accurate transaction recording, data exchange to prevent tampering, and a paper trail to decrease human error and combat fraud can all result in significant savings.

Processing of Blockchain in Mortgage Industry

Requesting & Recording Offer

Share data regarding your mortgage requests with the buyer under secure identification and validate buyer credentials

Assessing & Agreeing Offer

Automatically access, assess requests made and validate the buyers offers with private keys to sign agreements

Transferring & Tracking Money

Remove multiple middlemen intervention and enhance the payment transfer process between buyers and sellers

Transferring & Tracking Ownership

Transfer assets, titles, licenses and ownership documents instantly by reducing delays due to intermediate parties

Types of Blockchain

  • Private Blockchain

    Provide authorization and accessibility only to necessary government officials to monitor law and order

  • Public Blockchain

    Provide access to anyone and everyone for sharing information between government and its citizens

Our Services for Blockchain in Mortgage

Development of Smart Contracts

Create reports instantly, upload them in real-time to send payments to mortgage lenders, appraisers and receive/send statements online

Evaluation of Requests & Transfers

Evaluate buyers, sellers by calculating credit scores by accessing their payment/transaction history provided by credit bureaus

Automatic Data Processing (ADP) of Payrolls

Automatically retrieve loan, tax payments from buyers and get notified in real-time regarding loan applications

Monitoring of Data with Distributed Ledger Technology (DLT)

Access different data related to different necessary parties in real-time and share them using public/private key

Qualifying Digital Credits

Digitize your account information and improve your chances of getting approved loans with customized credit periods

Creation of Intermediary Ecosystem

Creating single point of environment to engage brokers, key suppliers, asset surveyors and agents

Why You Should Hire Afkkarr for Blockchain in Mortgage

Reduce operations fees, costs for financial institutions through ADP

Improve your workflow by adding value with blockchain based registry

Increase your credit qualification and loan search by instant checking & approvals

Conduct Due Diligence (DD) reviews to increase loan limits and funds

Exchange documents, data and information under secured DLT encryption

Re-imagine financial mortgage services by transforming customer experience

Technology and Tools We Use

  • Ethereum

    Enables developers to build and deploy decentralized applications

  • Hyperledger

    A shared ledger that utilizes cryptography and supports smart contracts

  • Solidity

    A statically-typed programming language designed for developing smart contracts

  • Truffle

    Act as a developer environment and testing framework for blockchain technology

  • R3 Corda

    Open source blockchain designed specifically to meet the demands of modern day businesses

  • Ripple

    Provides one frictionless experience for sending and receiving money globally

  • Quorum

    Platform that addresses specific challenges to blockchain technology adoption within the financial industry and beyond

  • IOTA

    Open-source distributed ledger built to power the Machine Economy through fee-less micro-transactions and data integrity