Mortgage is a debt instrument by granting mortgage rights to property and borrowers to lenders as collateral for their obligations. In this case, the borrower can still use or utilize the property. Mortgage rights for property fall after the obligation is paid in full. Besides bonds, a mortgage or also known as a mortgage is the type of debt that is used most often.
Mortgages are used by individuals and businesses to make real estate purchases without paying the entire purchase value in advance. Over a period of years, the borrower repays the loan, plus interest. Until finally, the owner of the property is free and completes all the loans. Mortgages are also known as "property rights" or "property claims." If the borrower stops paying the mortgage, the bank can confiscate the property in question.
Mortgage loans, or housing loans, as a credit tool, have been used for centuries, but despite their popularity, some people feel they are inefficient. The fact is that different kinds of intermediaries, for example, banks or any other financial institutions, in the process of any lending, including mortgage, become a big problem for many participants who want to buy housing on credit. Any intermediary is an additional interest to the interest rate of the loan, in connection with which many can not afford to take housing in a mortgage, because afterwards they will have to pay a lot. Another related problem is the difference in interest rates in different banks and, even more so, in different countries. for example, in order to take housing in a mortgage loan in Bermuda, the client of the bank will have to repay the loan debt at an interest rate of 6% for 20 years. And if the same user wants to buy real estate at the same cost in the UK, the British bank will put the terms only at 2%. So a solution is needed to eliminate the difficulties associated with obtaining a loan for housing purchase.
Viva Network is a decentralized mortgage loan platform that allows borrowers and investors to innovate and meet directly in one place safely. The project was launched in May 2016, the Viva Network is a decentralized ecosystem that connects mortgage borrowers with global investors in an unlimited, blockchain-secured cloud platform. Viva's innovative technology uses Ethereum's intelligent contract to cover and secure private home loans into ractionalized Mortgage Shares (FMS) which can be easily bought and sold on the Viva FMS Exchange application (Secondary Market Exchange). Using Mortgage Share Fractionalization, The Viva Network allows investors to crowdfund mortgages home buyers from anywhere in the world, making the process faster and easier for home buyers. With the ability to access the free market efficiently, both parties will now be able to take advantage of international interest rate arbitrage and obtain a lower mortgage interest rate and a higher return on investment.
VIVA NETWORK Crowdfunding pawns on blockchain, About Us :
- Viva uses proprietary proprietary technology, smart contracts, and crowling that will allow home buyers to obtain currency home loans.
- Unlimited & decentralized home loan financing will eliminate the need to rely on intermediaries such as banks and other financial intermediaries.
- Viva creates a free market in the mortgage industry - reducing inefficiencies and allowing more affordable home ownership.
- For the first time, Viva will allow accredited private investors to have a very profitable asset-backed Mortality Shares (FMS).
- Also displays innovative applications, designed to improve the current Credit & Property Scoring & expiration process.
The decision of the Viva Network project will consist of three main elements, or, as their creators say, their three "cornerstones". Viva’s Three Cornerstones, are:
Mortgage Financing
Main cornerstone of The Viva Network is that users can take a residential property loan (mortgage) from a grid of international crowd lenders. From this, normal homebuyers will have an option of funding their home acquisition.
Residential Property Valuations
Using the Real Value 2.0 Application of the Viva network, existing home valuation process will be improved and it will give an unbiased, algorithm-based home valuation using the current market data and artificial intelligence technologies and VIVA tokens can be used to pay the selected properties.
Credit Scoring
Using V-ID which is a transparent and traceable digital identification Viva network users can build their Viva credit profile on the V-Score application. V-Scores will improve the current, inefficient credit scoring process Viva network users to setup a reliable credit score regardless of national borders and the permission of other centralized credit agencies.
VIVA NETWORK is a great platform with great ambition, to give or provide a unique privilege and better tomorrow through unbeatable project and incomparable events to all investors or business holders and all individuals across the globe. Innovation is the key to Viva, the financial technology used on the System is intentionally utilized to attract larger decentralized mortgages to The folks of the planet. The platform initiates smart contracts for use Of funding mortgage loans during crowdsales. And it connects the Investors with the borrowers p2p on the decentralized, trustless technician platform. Leveraging the blockchain unbeatable safety is your key to huge trades. And by cutting out the middleman like Viva does, the Lending procedure gets more profitable than before.
Viva's technology
Blockchain-oriented
that Mission-critical info, transactions and appraisals will be endorsed by blockchain technology. Ethereum intelligent contracts and BigchainDB at our Core empower decentralization in an extremely stable, resilient, transparent, and trust-less atmosphere.
Robust Microservice APIs
Built by software engineers specializing in architecting large scale Financial enterprise systems, also a RESTful service oriented architecture will allow the Viva Network to adapt to changing industry trends and chances with ease.
3rd Party FinTech Integration
Built to accelerate alternate finance trends by seeking integration with complimentary suppliers from credit rating to generalized blockchain strength portfolios.
AI/ML Constructed
Embracing Machine Learning abilities to provide insights and Tips, The Viva Network will enable clients like never Earlier, from risk classification to fractionalized mortgage portfolio Finance placement and selection.
Cloud Scalability
Built to harness elastic cloud scalability through containerization in Preparation for large scale adoption of this stage, this may enable Low Latency, high-throughput fractionalized mortgage trading using high Availability.
Bigdata Ready
The Viva Network Platform will utilize AWS For an infrastructure capable of processing vast amounts of loan, Real estate, and trading pattern data sets for machine-learning analytics. That will evolve a uniquely intelligent platform.
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