Padgett Law Group | Blockchain-based universal format for mortgage loan data

- On-boarding mortgage lender loans portfolio was a major challenge as it requires a separate translation algorithm to convert to a universal format to store on a distributed ledger. - Ownership transfer to buyer mortgage or financing group requires a three-way handshake protocol to complete the process. After transfer seller could only access repayments made during its ownership but not any future repayments. - Also, granting time-based access to original documents to buyer’s validator using a smart contract was a challenge.

SoluLab has been instrumental in selecting the correct blockchain technology to use, development environment, test protocols, and additional software interactions that we need to accomplish the SaaS goal we have set.

- It has not only eased the operations for our client but also helps in the accomplishment of assets and title exchanges at better prices without any intermediary intervention. - Dramatic reduction in costs, fees, and fraud; and improved efficiency, transparency, and certainty among all parties