Homelend – P2P Lending and the Mortgage Industry

Homelend – Hello, today we will consider an innovative platform, created on the basis of blockchain technology, which is intended for mortgage lending.
So, meet Homelend!
In a broader sense, Homelend is a P2P platform for giving and receiving various loans and loans, from small, type  “to paycheck ” to very serious. In addition, the platform is designed to provide all related services to the credit market.
The main goal pursued by the creators of this site to take their niche in the world market of real estate lending and provide credit services to organizations and individuals, and the ultimate goal is to destroy the imperfect predatory traditional Mortgage lending system and its substitution for transparent decentralized crediting through the use of intellectual contracts, to increase efficiency, profitability and client-orientation of the mortgage lending market.
Homelend will enter into loan agreements through the use of smart contracts and decentralized accounting. Creditors and borrowers will be connected to the blockchain, and the system will regulate the relationship between all parties involved.
Three Mexanizma of credit will be available on the platform. In each of them, the creditor/borrower’s relationship will be governed by intellectual contracts, which eliminates the need for intermediaries, so that the cost of the credit package decreases.
Mechanism 1-Crowdfunding:
Crowdfunding will be the main way of lending on the Homelend site. Lenders will allocate their funds for lending to borrowers in installments. Homelend  The borrower will also be able to collect the necessary amount of credit in installments from different creditors. In this way, the credit will be divided into small  “fractions “.
Mechanism 2-Union:
With this method, lenders will be able to provide credit services through smart contracts prior to the prior approval of a loan. Loans, as in the previous mechanism, will be recruited in installments, but the intellectual contract will give creditors the opportunity to start work with the borrower even before the loan is officially approved, which significantly reduces the time that Traditional system is spent on bureaucratic procedures.
Mechanism 3-Auction:
The auction will allow creditors to get contracts on the most advantageous and for the conditions. This means that the first loan will be given to the borrower who has a higher credit rating, a better credit history, and a higher interest rate. At the same time the creditor will compete with other creditors and thus the market will regulate the optimal conditions of crediting. A distinctive feature of this mechanism is that lenders if they want to, will be able to offer buyers of credit packages even better conditions than those that were formally approved by the system.
 Speed and efficiency: the process of loan processing under the existing credit system is long, uncomfortable and humiliating for the borrower. Blockchain and smart contracts automate all bureaucratic tape and reduce the whole process of registration up to twenty days against 2-3 months, required for registration in the traditional way.
 Transparency: Homelend will create a simple, secure and fair credit system, borrowers can quickly and easily apply for loans and track the status and status of their application in real time.
 Profitability: Homelend will relieve both sides of the need for intermediaries. They will be replaced blockchain. It will record all the documents and data on all transactions, which will provide maximum transparency throughout the duration of the loan agreement.
 Reliability and security: Using the Public key encryption method used in the Homelend system will reliably protect the user’s data and money from hacker attacks and other malicious activities.
Homelend is determined to create a new generation credit market-fast, cheap and secure, where lenders and borrowers will work with each other through blockchain and smart contracts. The ultimate goal of the Homelend project is to reduce the number of intermediaries up to zero and thus reduce the cost of servicing mortgages, which will make such loans more accessible to the general public.
Playground Homelend will use its own internal cryptocurrency-coin HMD. This coin will work as a Bandwidth, that is, a fuel that provides the ability of the platform. This coin will also have its own cost, it can be used for storage, accumulation, and transfer of money, and if necessary to exchange on the markets for Fiat or another cryptocurrency.
Start of pre-sale: 1.03.2018.
Coin: HMD.
Total number of coins issued: 250 million.
Platform: ERC-20.
Exchange rate: 1 ETH = 1600 HMD.
Currency accepted for payment: BTC, ETH, USD.
Soft cap: $5 million
Hard cap: $30 million
Coin Distribution:
For pre-sale: 28%
In public sale: 36%
To the Reserve fund: 20%
For advisers and consultants: 8%
For founders M developers: 8%

Tags: #cryptocurrency #cryptonews #ico

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