HOMELEND : Blockchain-Based, Peer-to-Peer Mortgage Lending Platform

Homelend is a decentralized platform that allows financing next generation homebuyer mortgages. Homelend creates an interface for direct interaction between borrowers, lenders and other parties involved in the mortgage value chain. Thus, it allows crowdfunding mortgages using peer-to-peer models with the security, transparency and automation provided by distributed ledger technology (DLT) and smart contracts.

The Homelend Advantage

From manual & lengthy, to Streamlined & Efficient :
By embedding pre-defined business logic into smart contracts, digitizing documentation and eliminating unnecessarily processes, Homelend will automatically execute an end-to-end origination process, cutting it down from 50 days to less than 20.
From Costly Intermediation to Cost-Effective & Middleman-Free :
The immutability, security and transparency provided by DLT makes it possible to record transactions, including loans, without banks acting as middlemen. This will reduce costs for both borrowers and lenders, while minimizing the distance between them.
From Ambiguous & Clunky to Transparent & User-Friendly :
Homelend aims to create a lending process that is not only smart, but also simple and fair. It will enable borrowers will be able to easily apply for a loan, track their application status at all times and interact directly with mortgage lenders.
From Vulnerable & Unreliable to Trusted & Secure :
Centralization and paper-based processes are the key factors behind the insecurity and vulnerability that characterize the traditional mortgage industry. The unique characteristics of DLT and smart contracts enable Homelend to provide a platform for people to transact large amounts of money in a trusted, transparent, and secure way.

HOMELEND’S MORTGAGE LENDING PLATFORM

P2P Lending and the Mortgage industry : Peer-to-peer (P2P) lending, also known as “alternative finance,” is the process by which individuals can borrow and lend from each other without the intervention of banks or other financial intermediaries. Blockchain technology creates new possibilities for P2P lending. It’s now considered the next step in digital ledger technology (DLT), after decentralized money payments surged in the form of bitcoin and other crypto-currencies. Indeed, the immutability, transparency, and security provided by DLT makes it possible to record transactions, among them loans, without banks or other financial entities acting as middlemen.
Homelend’s P2P mortgage lending mechanism : Homelend P2P platform works by embedding mortgage lending business logic into smart contracts. This is the platform’s core functionality. By creating a set of smart contracts that execute business processes, Homelend allows individuals to borrow money from their peers in a trusted, transparent, and secure way. The key idea is that borrowers and lenders are not linked by means of a financial intermediary (i.e. a bank or a centralized P2P lending platform), but rather by smart contracts that automatically execute a pre-defined business logic.
P2P lending methods : Homelend will develop three different P2P lending methods: pure crowdfunding, pooling, and auction. In each of them, the flow of financial resources is controlled and executed by smart contracts, without middlemen or financial intermediaries. Also, the splitting of mortgage loans into “slices” is present in each method. The difference between the methods arises from the specific approach used to and a pre-approved mortgage loan.
Closing and mortgage deed assignment : The closing of the mortgage is the final and, typically, the more complex stage of the origination process. It requires signature approval on many documents and involves several parties. Above all, it is the moment when the property is transferred from the seller to the buyer/borrower, and when the promissory note and mortgage deed are issued and registered in favor of the lender.

Homelend Token (HMD)
The HMD token is the fuel powering the Homelend peer-to-peer lending platform. It's main functionality is to grant access to the Homelend platform.This utility token also plays an instrumental role in enabling a fast, smooth and user-friendly workflow that is unified and secure.All tokens can be converted to and from HMD.
Symbol : HMD
Total Supply : 250,000,000
Standard : ERC-20
Face Value : 1 ETH= 1,600 HMD
Accepted Currencies : BTC, ETH, USD
Softcap : US$ 5,000,000
Hardcap : US$ 30,000,000
Pre-Sale : March 1, 2018
Crowdsale : TBD
Closure : TBD

Token Functionality :
The HDM token’s main functionality will be to offer access to the services provided by the platform. These services will either be provided directly by Homelend or through third parties working in coordination with Homelend. The core service provided by the Homelend platform is the facilitation of P2P lending by means of smart contracts and standardized processes. The system will create a more affordable, accessible and efficient mortgage origination process. As previously mentioned, the borrower will deposit an origination gas equivalent to 1% of the mortgage loan, in order to access the financing mechanism.
Token Supply :
The total number of HDM tokens to be issued in the Token Generation Event (TGE) will be 250 million. Of this total supply, 50 million HMD token (20%) will be held in a reserve fund, and 200 million HMD tokens (80%) will be in circulation. The face value of each HMD token will be 1 ETH = 1,600 HMD.

Token Allocation