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Today's Mortgage Lending Industry
Mortgage Loans Are at the Core of Society
Having a home is one of the basic human needs - a need most people are only able to afford by taking out a mortgage loan from the bank. In the U.S. alone, more than 8 million mortgage loans are granted every year.
An Archaic $31 Trillion Industry Yearning for Disruption
The U.S. mortgage market is valued at $14 trillion, and the global market is expected to reach $31 trillion by the end of 2018. Yet, despite how central this market is both socially and economically, the traditional mortgage lending system remains incredibly primitive. The system relies on lengthy and complex paper-based processes involving various intermediaries—processes that are laden with inefficiencies and overhead costs for both borrowers and lenders. Moreover, mortgage loans are largely unattainable for the new generation of young borrowers, excluding millions of creditworthy individuals from obtaining home loans due to outdated assessment criteria.
Homelend’s Solution
What is the Homelend platform?
Homelend is a decentralized platform enabling the next generation of homebuyer mortgage financing. Homelend creates an interface for direct interaction between borrowers, lenders and other parties involved in the mortgage value chain. By doing so, it enables mortgage crowdfunding using a peer-to-peer model with the security, transparency and automation provided by distributed ledger technology (DLT) and smart contracts.
What advantage does Homelend offer the mortgage industry?
As the financial industry is evolving into the digital age, the traditional mortgage lending industry still lags behind. Homelend is developing a solution that, thanks to the security and immutability provided by blockchain technology, enables investors to directly finance homebuyer mortgage loans. These loans are considered to be a very safe investment with high returns. Furthermore, Homelend will generate a blockchain-based, consistent, digital and secure database that will be accessible to every entity involved in the mortgage value chain, allowing all parties to avoid burdensome paperwork and significantly shorten process times. Smart contracts will automatize several tasks and processes, helping to reduce origination times, which currently last 50 days on average.
How does the Homelend platform work?
Homelend connects borrowers and lenders in a unique way, controlled by smart contracts, without involving middlemen. Borrowers will apply for mortgage loans through Homelend’s platform. These applications will be assessed and pre-approved (or not) with the help of artificial intelligence and machine learning technology. Then, individual lenders will be able to fund pre-approved loans by buying “slices” of them. All processes will be controlled by smart contract protocols, rather than by human beings
What is Homelend’s business model?
Homelend will generate revenues from origination gas and selling discount points, as is typically done in the mortgage industry. All deposits will be completed in Homelend tokens (HMD).
Why is Homelend is based on blockchain technology?
Homelend’s network architecture is powered by blockchain technology and Ethereum smart contracts in order to assure that all transactions are transparent, secured and trusted. All information gathered and generated in the process of originating a mortgage loan is saved in a decentralized database maintained by all users. This means that no one can manipulate the data or receive privilege on any transaction. ] In addition, blockchain technology increases liquidity for the lenders, enabling them to trade their investments directly with one another.
What does it mean that Homelend tokens are “utility tokens”?
Utility tokens give access to a platform. Homelend tokens (HMD) are utility tokens that will serve as the fuel powering the Homelend system.
Homelend Mortgage Crowdfunding Platform
We Are Developing a Decentralized, Peer-To-Peer Mortgage Lending Platform Serving Two Purposes
1. Modernizing the age-old mortgage lending system in order to make it efficient, cost-effective and customercentric.
2. Expanding home ownership opportunities for a new generation of borrowers, meeting their distinct lifestyle and needs.
2. Expanding home ownership opportunities for a new generation of borrowers, meeting their distinct lifestyle and needs.
How does it work?
By leveraging distributed ledger technology (DLT) and smart contracts, Homelend brings together individual borrowers and lenders on an end-to-end platform that streamlines and automates the entire mortgage origination process.
The Homelend Advantage
1. From manual & lengthy, to Streamlined & Efficient
By embedding pre-defined business logic into smart contracts, digitizing documentation and eliminating unnecessarily processes, Homelend will automatically execute an end-to-end origination process, cutting it down from 50 days to less than 20.
2. From Ambiguous & Clunky to Transparent & User-Friendly
Homelend aims to create a lending process that is not only smart, but also simple and fair. It will enable borrowers will be able to easily apply for a loan, track their application status at all times and interact directly with mortgage lenders.
3. From Costly Intermediation to Cost-Effective & Middleman-Free
The immutability, security and transparency provided by DLT makes it possible to record transactions, including loans, without banks acting as middlemen. This will reduce costs for both borrowers and lenders, while minimizing the distance between them.
4. From Vulnerable & Unreliable to Trusted & Secure
Centralization and paper-based processes are the key factors behind the insecurity and vulnerability that characterize the traditional mortgage industry. The unique characteristics of DLT and smart contracts enable Homelend to provide a platform for people to transact large amounts of money in a trusted, transparent, and secure way
The Homelend Token (HMD)
The HMD token is the fuel powering the Homelend peer-to-peer lending platform. It's main functionality is to grant access to the Homelend platform. This utility token also plays an instrumental role in enabling a fast, smooth and user-friendly workflow that is unified and secure. All tokens can be converted to and from HMD.
Timetable
Pre-Sale.......................March 1, 2018
Crowdsale.................TBD
Closure........................TBD
Crowdsale.................TBD
Closure........................TBD
Bonuses (ETH/HMD)
Week 1................................20%
Week 2...............................15%
Week 3................................10%
Week 4 and After.......0%
Week 2...............................15%
Week 3................................10%
Week 4 and After.......0%
Specifications
Symbol.............................HMD
Total Supply................250,000,000 Standard........................ERC-20
Face Value....................1 ETH= 1,600 HMD
Total Supply................250,000,000 Standard........................ERC-20
Face Value....................1 ETH= 1,600 HMD
Accepted Currencies...BTC, ETH, USD Softcap.............................US$ 5,000,000 Hardcap...........................US$ 30,000,000
The Homelend Token & Crowdsale
What is the functionality of HMD tokens?
HMD tokens will be used for purchasing services and paying fees within the Homelend platform. This token is based on the ERC-20 Ethereum standard.
Who can participate in the Homelend Token Generation Event?
Anyone shall be able to participate in the Homelend ICO crowdsale, with a minimum investment of $1,000 USD.
When will the public stage take place?
The public sale is expected to take place in August, 2018. We recommend subscribing to one of our channels in order to stay informed about any changes regarding the date.
Is there a KYC process involved?
Yes. In order to take part in a pre-sale or ICO crowdsale, every investor must follow a detailed “Know Your Customer” (KYC) procedure. Our primary goal is to ensure that our platform is trustworthy, transparent, and compliant. Therefore, all participants must be registered and undergo full KYC.
How and when will I receive my Homelend tokens?
Homelend tokens will be delivered automatically to the wallet of your choice. The wallet must be ERC-20 compatible. As the token sale will be on the Ethereum blockchain, you need an ETH address to store and manage tokens. Delivery will take place at the end of the ICO.
Why shouldn’t I send funds from an exchange account?
Our smart contracts automatically send Homelend tokens to the address from which we received your ETH. Therefore, you must have control of the address you send the ETH from. This means you must have the address’s private key. If you do not have the private key, you will not receive the Homelend tokens.
Under what legal framework does Homelend operate?
DMC Homelend AG was incorporated in Zug, Switzerland, aka 'Crypto Valley'. The Initial Coin Offering (ICO) will be conducted based on the guidelines and publication of the Swiss regulators.
So join now and invest at https://homelend.io/
MORE INFORMATION :
BTT ANN THREAD : https://bitcointalk.org/index.php?topic=3407541Website : https://homelend.io/Whitepaper : https://homelend.io/files/Whitepaper.pdfTwitter : https://twitter.com/homelendhmdFacebook : https://www.facebook.com/HMDHomelend/Telegram : https://t.me/HomelendPlatform/Reddit : https://www.reddit.com/r/Homelend/Bounty Bitcointalk : https://bitcointalk.org/index.php?topic=3407877
Authorized By:
My Bitcointalk account : jagadlangit
My ETH address : 0xA2BFa48A6AfEFaBF498B6541f609E6cef4700D91
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