Blockchain

The proposed class action suit claims the fintech lender purposefully pushed customers applying for HELOC loans into higher rates, or misrepresented rates at the beginning.

Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.

Figure claims its lien and eNote registry is a "streamlined and markedly efficient alternative to manual assignments and conventional loan tracking databases."

The blockchain fintech has purportedly tapped Goldman Sachs Group Inc., JPMorgan Chase & Co. and Jefferies Financial Group Inc. to help with the initiative, per Bloomberg's reporting.

Mike Cagney, the fintech's CEO, said Tuesday the project came about in reaction to an industry need for a private capital market.

The fintech rolled out a Lending-as-a-Service (LaaS) platform, which gives lenders access to its system. The first mortgage shop to sign up is Guaranteed Rate.

Real-world use of the shared, immutable databases has become increasingly centered on piecemeal implementation in industry processes, which can be executed without waiting for broader technology reforms.

The ledger technology can make artificial intelligence systems more transparent, some industry stakeholders say.

The transaction is the second of its kind in the past six months and comes as the mortgage leaders take steps to develop document standardization that would ease electronic closings and trading of the home equity loans.

Last year, the company appeared to be on track to raise $300 million but has since reduced its target by two-thirds. 

 Lenders can utilize blockchain technology to originate fully digital, tokenized mortgage assets on the chain. How does it work, and how can mortgage companies benefit from integrating with this technology?

The single-family house, located in South Carolina, was sold to an investor for $176,200 last month.

The partnership is starting off small but ultimately aims to sell real estate through non-fungible tokens on a broader scale than others have in the past.

Angel Oak Capital Advisors has helped institutional clients buy subordinated debt with the assistance of a distributed ledger developed by Brightvine. Benefits to the issuer and investors include a central place to find all documents and automated updates when banks pay off their loans.

The Federal Housing Finance Agency's new office will assess technology solutions for an industry viewed by many as too slow to embrace digital efficiencies.

The initial roll-out is in Arizona, Colorado and Florida, but the company plans to offer the capabilities nationwide over the next 24 months.

The ability to produce a cohesive, visible audit trail is “like nirvana” for lenders, ICE Mortgage Technology Vice President Christopher McEntee said.

With Digital Asset Registration Technologies, lenders can avoid duplication errors and riskier arrangements with multiple parties on the platform, its creators say.

The company claims its digital registry system is a faster, safer alternative to MERS databases

The home occupant invests at least 10% into the property and Haus covers the rest, and the home’s equity can be traded through a cryptocurrency.