A home is one of the most important purchases someone will ever make. No one would ever want to lose their home, but it’s a solid source of equity. From time to time, homeowners take out mortgages on their homes to get extra money, make a big purchase, or to get a better home.
Mortgage loans are a large industry worldwide. Not only that, but they are costly for both lenders and borrowers. The industry doesn’t tailor to young lenders and many feel the assessment criteria is outdated.
Enter Homelend, a Decentralized, Peer-To-Peer mortgage lending platform. The mission of Homelend is to modernize the mortgage lending system making it more cost effective and customercentric. They plan to expand home ownership opportunities for a new generation of borrowers. Homelend wants to use distributed ledger technology (DLT) to bring borrowers and lenders.together They hope to bring them to a crowdsourcing platform to streamline and automate the mortgage loan process.
The aim of Homelend is to take the long arduous process of the mortgage loan assessment and shorten it to around twenty days. DLT will allow borrowers to track their application status and interact with mortgage lenders. The crowdsourcing platform will allow borrowers to deal directly with lenders without banks acting as middlemen.
The Homelend Token (HMD) is how a borrower or lender can gain access to the Homelend platform. HMD token will…
