In todays’ generation and innovation opportunities, Mortgage market still lags behind. There are lots of paper works which requires a significant amount of time to process. The procedure is still paper-based which makes it more complex. Another disadvantage is that many parties are involved before you get the approval of financial institutions. Most banks that play the role as “Originator” use their clients’ Funds to offer mortgage loans. For last 30 years, the process has been changed. Most mortgage loans are sold to third parties. As a result clients find it hard to know whom they are going to negotiate with. It also creates distance between borrowers and lenders. There is a high risk of Home Foreclosure and the court is always in favor of the Bank while the truth is it’s been resold to a third party in Secondary Market.
We are all aware about the economic crisis which started in 2007 in the US. One of the underlying reasons is the irresponsible lending with real estate speculation. People invested in real estate thinking that the value would increase. Sub Prime Crisis was happened which leads to global financial crisis. The Giant Economic Player (US) has experienced it for many years and had brought too much suffering not only for the Americans but for all the economies which are connected to it. Many have lost their jobs and houses.
Homelend is created to rectify all these problems and make your transaction streamlined and efficient. The company has developed decentralized Peer-to-Peer Mortgage Lending Platform which is cost-effective and customer centric. They also want to expand home ownership opportunities for a new generation of borrowers, meeting their distinct lifestyle and needs. Homelend is powered by Blockchain Technology and Ethereum Smart Contracts to assure that all transactions are transparent, secured and trusted. Furthermore, Blockchain Technology offers Mutual Distributed Ledger (MDL). These are shared database stored in multiple locations. It is accessible by all parties but the information is only available to involved persons. There traditional way has a lot of paperworks and consumes too much time to process all the documents for loan approval. Homelend has developed its own computing program; the “Smart Contract” which doesn’t need authorities’ intervention, as a result transactions are traceable, transparent and irreversible. Other benefits include, less reliance on physical documents and it eliminates errors and frauds.
The company has also developed its Peer-to-Peer Mortgage Lending Platform which is also known as Alternative Finance. Clients can lend or borrow without the intervention of Banks and other financial intermediaries. There are three methods within this Platform namely:
- Crowdfunding, wherein different lenders can finance borrowers’ loan.
- Pooling which allows buyer to invest money through smart contracts and to pre-buy.
- Auction where lenders are able to offer borrowers better conditions than those pre-approved by the platform.
What are Homelend Tokens?
Homelend token which is also identified as HMD Token is a fuel of the P2P Lending Platform. It is used in purchasing services and paying fees. Borrowers from other countries will be able to benefit from Homelend’s services without limitation or restrictions derived from monetary policies established by the governments. Anyone can participate in the Homelend ICO crowdsale with a minimum investment of $1000 USD. Once you’ve purchased HMD Tokens these will be delivered automatically to the wallet of your choice which must be ERC-20 compatible.
Initial Coin Offering (ICO)
Pre-Sale: March 1, 2018
Symbol: HMD
Total Supply: 250,000,000
Standard: ERC-20
Face Value: 1ETH = 1,600 HMD
Softcap: US$5,000,000
Hardcap: US$ 30,000,000
Get more details on this ICO and project by reading through its whitepaper and visiting the website and their social media pages:
Website: https://homelend.io/
Whitepaper: https://homelend.io/files/Whitepaper.pdf
BCT Thread: https://bitcointalk.org/index.php?topic=3407541
Telegram: https://t.me/HomelendPlatform/
Twitter: https://twitter.com/homelendhmd
Facebook: https://www.facebook.com/HMDHomelend/
Medium: https://medium.com/homelendblog
Made by: Armaden
BCT Link: https://bitcointalk.org/index.php?action=profile;u=2081125