how will it your platform works? will use Homelend blockchains?
Our platform will be originally based on the Ethereum blockchain. It is envisaged that further on, a native chain will be also developed.
In a few words, our platform works in the following way:
1. A mortgage loan applicant feeds all relevant information (hard and soft) for the underwriting of the loan (assessment and appraisal).
2. A data analytics system powered by artificial intelligence, machine learning and neural networks, assess the application and pre-approves it (or not)
3. If pre-approved, the loan application is risk-rated and divided into "slices", that is, sub-units. For instance, a $250,000 loan can be divided into 25 $10,000 slices
4. The slices are offered to potential lenders as investment options.
5. Once all slices are funded by lenders (over a max period of 30 days), the loan is sent to digital closing.