Treasuries go 24-7 as repo trade hits blockchain on a Saturday
Canton, a public blockchain developed by Digital Asset Holdings, allowed a standard US Treasury repurchase agreement, or repo trade, to happen outside of normal market hours.
Blockchain
Figure Lending accused of misrepresenting its HELOC product in suit
The proposed class action suit claims the fintech lender purposefully pushed customers applying for HELOC loans into higher rates, or misrepresented rates at the beginning.
Figure sells eNote mortgages as NFTs in blockchain marketplace
The company claims its digital registry system is a faster, safer alternative to MERS databases
Cadeia completes pilot securitization over platform enabling partial to full DLT
The platform enables structuring of the entire transaction, including covenant tests and trigger levels, and the distribution of interest and principal cash flows, but professionals need more time to become comfortable with DLT.
By
John Hintze
Redwood Trust’s Liquid Mortgage investment fuels blockchain’s momentum
The mortgage real estate investment trust has been a first-mover regarding innovations in the private securitized market, and others tend to follow its lead.
Mike Cagney launches blockchain for loan trading. Will banks go for it?
The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.
Wilmington Trust has high hopes for blockchain boost in RMBS market
The trustee is piloting a distributed-ledger program that can automate much of the interaction between originators, servicers and MBS investors.
By
John Hintze
Vanguard pursues blockchain advancement in ABS
The investment manager has completed phase one of a pilot instituted with tech firm Symbiont, seeking to prove the potential for launching—and closing—asset-backed securities deals via distributed ledgers.
By
John Hintze
Mike Cagney’s new firm says it’s giving banks ‘a compelling reason’ to use blockchain
The SoFi co-founder said Figure Technologies is working with national banks to employ its distributed ledger tech for loan originations.
SFIG Vegas: Blockchain’s complexity can cloud its utility
The first step toward getting a handle on blockchain technology is to avoid getting bogged down in how it works. Think instead of what it can do, experts say.
By
Glen Fest
Digital lender founded by ex-SoFi CEO raises $65M to fuel expansion
Figure, the startup headed by Mike Cagney, uses blockchain technology to provide home equity loans in as little as five days. It intends to use the newly raised funds to offer other services, including wealth management.
Blockchain slashes approval time on syndicated loans, BBVA says
BBVA, BNP Paribas and MUFG recently used BBVA's blockchain to reach an agreement within 24 hours — instead of two weeks — to lend a Spanish power company $150 million.
Former SoFi CEO’s startup unveils digital home equity loans
Mike Cagney’s current venture, Figure Technologies, is offering consumers the ability to apply online for home equity loans and get funding in as little as five days.
Blockchain firm creating mortgage fraud prevention tool
Startup Block66 is using blockchain to create a mortgage audit trail for fraud prevention purposes and also plans to enable trading of securities lenders can use to increase their liquidity.
Spinoff rumors or not, JPM’s blockchain unit is evolving
JPMorgan Chase is sending signals that its homegrown blockchain, Quorum, is alive and well despite a recent shake-up.
Could blockchains replace banks in real estate lending?
Startups that have developed the technology for real estate finance are starting to conduct a broader array of transactions, including property sales.
Can blockchain be used to build a better credit bureau?
Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.
