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.
Homelend Features and Benefits
Homelend is emphasizing all of the following features and benefits:
Streamlined and Efficient: Today’s mortgage application process is manual and lengthy. Homelend wants to use blockchain and smart contracts to make it streamlined and efficient. Homelend will embed pre-defined business logic into smart contracts, digitizing documentation and eliminating unnecessary processes. Homelend specifically aims to cut the end-to-end mortgage origination process from 50 days to fewer than 20.
Transparent and User-Friendly: Homelend seeks to get rid of today’s ambiguous and clunky mortgage application process and replace it with a process that’s transparent and user-friendly. Homelend will create a lending process that is smart, simple, and fair, allowing borrowers to easily apply for a loan, track their application status at all times, and interact directly with mortgage lenders.
Cost-Effective with No Intermediaries: Homelend will introduce a cost-effective mortgage application process free from middlemen. The blockchain will replace intermediaries, providing a way for two trustless parties to interact with each other. All transaction data will be recorded in the blockchain, allowing borrowers and lenders to maintain maximum transparency throughout the transaction process.
Trusted and Secure: Homelend aims to use blockchain to process mortgage-related data in a more trusted, transparent, and secure way than ever before.
For a long time there is a market for lending and various loans, which is used by a huge number of people around the world. The lending market is very large and amounts to more than $ 30 trillion, according to various estimates. People all over the world take out loans, but often many of them have to put up with unfavorable credit conditions and the various costs that they have to pay. But these difficulties must remain in the past thanks to the platform Homelend which is created taking into account all the difficulties faced by creditors and borrowers, the platform will not only eliminate these imperfections but also offer new tools that not one of the existing competitors.
Thanks to the emergence of blockchain and smart contract, Homelend can offer lenders and borrowers a platform on which they can carry out transactions without the participation of various intermediaries who make the transaction for both parties less profitable. The country platform will become a platform for various loans from small to very large. The Homelend platform optimizes and automates lending for all participants. The platform aims to maximize the transparency of all transactions, as well as to ensure the convenience of all users and create favorable conditions for all its participants. On the platform, the lender will be able to independently control the entire process of lending, he will be able to verify the authenticity and make decisions after processing various information.
To support the activities of the platform will create a token HMD that will work within the platform of the Homelend. Due to this token , platform members can perform various operations , all operations on the platform will be performed using the HMD token, which will be fast and safe. On the creation of the platform Homelend works a team of good professionals who strive to create a popular product that will take its place in the mortgage market.
How Does Homelend Work?
Homelend is building a decentralized, peer-to-per mortgage lending platform that will have two core goals:
- To modernize the aging mortgage lending system to make it more efficient, cost-effective, and customer-centric
- To expand home ownership opportunities for a new generation of borrowers while meeting their distinct lifestyle and needs
To accomplish these goals, Homelend will use blockchain technology and smart contracts to bring parties together in a decentralized marketplace. Individual borrowers and lenders will be able to interact across the Homelend marketplace. Homelend will be an end-to-end system that processes all stages of the mortgage process – from the early stages of application to the final stages of paying your last mortgage payment.
Details of the ICO
- Selling tokens : from 15 May to 30 July
- Symbol: HMD
- Type of tokens : ERC20
- Price per token: 1 HMD = 0.000625 ETH
- Tokens for sale: 160,000,000 HMD
- Identification: required