Block 66 – Mortgage platform


There are online lenders on the market, but all are connected to your credit score, and backed by business, it is just online lending from traditional lenders, with few exceptions that offer loans, but only Sofi does not require credit score above 600. Market comparison in 2016 and 2011 provide information that market share of big lenders is decreasing and online lenders market share is increasing. Wells Fargo share is biggest in both years, but in 2011 WF holded quarter of the market, and in 2016 it is close to one-eight of the market.
If you want a public, transparent and automated lending, with low costs and risks, you should look to decentralized market, or crypto currencies. Block 66 – https://block66.io/  – is one of solutions for this probelm. They are developing a mortgage lending platform that leverages blockchain technology to increase transparency, streamline the deployment of capital and overcome geographical lending restrictions.
First group that is addressed by Block 66 is good/prime credit band borrowers, with credit rating above 661, which are good and reliable group for private loans. In their whitepaper https://drive.google.com/file/d/11ZevZaCwYSG_0iv8On810w3Sjj2E5FLq/view you can find similar propositions like Finastra, CPROP, PROPY, BrickBlock, Habito, that can be look at complimentary service, not competition, since this market is in development, and need new companies to create market value.
One thing that should put Block66 in front of the crowd, if they succed will be to have whole process on the blockchain, done through smart contract between lender and borrower. Procedure from lender / borrower side is formalized, and will include KYC procedure, and also approval. Platform is foreseen for following users: consumer borrowers, brokers, private lenders, institutional brokers, underwriters and solicitors. Underwriters are group of Block66 vetted professionals that are paid by the broker/borrower, to check unusual applications, that cannot be checked by program basic verification.
For more information visit the link below:
Author: johnthedon
BitcoinTalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1860087

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