The financial sector and the mortgage system often get into conflicts, mainly because of the complexity of being up to date with the required paperwork. This translates into lost papers or permits that were not reviewed or granted for disappearing in the mountains of documents. This without counting the absurd delays that only slow down the real estate business. However a veteran of the mortgage sector in the US decided to venture into blockchain to build a solution: Morlabs.
Lenders need financial information from mortgage applicants, and these in turn need to go to real estate agents, merchants and experts. All this means a complex accumulation of procedures and contacts with all the impracticality that implies. Morlabs responds to this with its new service platform powered by blockchain.
Morlabs, LLC is a blockchain-based fintech platform that manages to connect all participants in a single ecosystem with real estate brokers, lenders, merchants and securitization firms, while offering a more profitable, fast, and with a transparent and reliable solution.
The mortgage market is an industry capable of moving up to $ 100 billion a year, and with a market that can move such a numbers a year it is normal that mistakes can be made in such a stressful environment surrounded by humans capable of missing something.
Morlabs offers two vital aspects for the perfect mortgage operation:
- The platform that offers fees for lenders, administrators and brokers to promote quality professional relationships.
- The creation of an own cryptocurrency to use in the mortgage system with which the owners can pay their mortgage, investors can invest in groups of mortgages using the system and the own cryptocurrency to make payments that are safe, transparent and fast.
With the simplification that Morlabs provides the mortgage industry will be able to improve the heavy step of requirements and paperwork of weeks to be able to solve everything in just minutes. Thanks to the Morlabs ecosystem, all those involved in the current mortgage system can save losses and problems that traditional paperwork has caused.
Morlabs is a mortgage blockchain platform designed to be used by financial institutions under licenses for their access, thus guaranteeing their purely professional use. Then the borrowers will be able to obtain access to be able to pay their mortgages by means of Morlabs Tokens, in addition to all those investors that want to use the Tokens for smart contracts.
The MortageToken -MTG – is the native and useful token of the platform that will allow easy and fast access with the respective data transfer. It should be noted that its use is only allowed to access global mortgage information or to make a mortgage payment.