elphi: a business plan to streamline the mortgage lifecycle through blockchain

The mortgage industry is the largest debt market in the U.S. entailing ~$10 trillion. The average processing time from mortgage application to closing is 45 days. More than 10 different stakeholders contribute to the process of mortgage origination, and they all use different types of technology to perform their parts. As such, coordinating and syncing all stakeholders is a complicated task, and therefore stakeholders revert to personalized yet inefficient communication channels, such as emails and phone calls. We offer a potential solution for this communication problem, leveraging DLT (Distributed Ledger Technology) to create pre-set channels for those stakeholders to communicate and reconcile transactions instantly. We argue that by leveraging DLT to this use case, the process of mortgage origination could go drop to 15 days, saving billions of dollars for all stakeholders.

Name thesis:degree_name

Master

Department dc:contributor.department

Sloan School of Management

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2019

Authors dc:creator

• Shalev, Eilon.
• Micley, David

Advisor dc:contributor.advisor

• Adrien Verdelhan.

• Sloan School of Management.

Statement dc:rights

• MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

https://hdl.handle.net/1721.1/122398

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/122398