What is
BitMortgage?
BitMortgage [BTM] is a novel blockchain and digital asset protocol for the mortgage industry. It's designed to be leveraged by agents and enables autonomous originations that are compliant and free of put-back risk.
Why create a
new blockchain?
Current institutional blockchain development has almost exclusively focused on stablecoin and payment rails. BitMortgage is the first blockchain designed and built for real-world mortgage originations, and brings the efficiencies promised by other digital assets to the world's largest consumer debt segment.
Shifting mortgage
into the digital
asset era
01 :: Agentic originations
Purpose-built to be safely originated by AIs or via digital wallets without human intervention or need for IMB / TPOs.
02 :: Eliminate put-back risk
Every BTM embeds proofs of compliance (QM / ATR, Fair Lending, ECOA, HMDA, etc) eliminating put-back exposure.
03 :: Real-time settlement
Supports programmatic originations and trades with instant credit decisions and built-in regulatory holds.
04 :: Low fees and transaction costs
Near zero origination costs with low blockchain network fees and rate benchmarks 100bps below traditional mortgages.
Technical features
01 :: Embedded compliance
Dodd-Frank ATR trails are generated using cryptographic proofs enabling the use of digital data in origination operations past the pre-approval stage.
02 :: Zero-knowledge
Support for ZKP-based validation shielding sensitive underlying data including all borrower Personally-Identifiable Information (PII).
03 :: Fully Programmable
Can support any loan product or program desired.
04 :: GSE compliant
Supports GSE + MISMO eMortgage delivery, and for institutions with bespoke off-take relationships can be moved off-chain into legacy systems.
05 :: On-chain Liquidity
For non-conforming, support for instantaneous transfers of BTMs amongst blockchain participants for nearly zero-cost, including whole loan, batch transfers, and BTMBS.
01 :: Support an agentic channel
Dis-intermediate your retail operations and enable borrowers to get mortgages from unbiased AIs instead of humans.
02 :: Originate loans via code, not people
No need for correspondents and bankers. BTMs are designed to be issued, audited, and traded programmatically.
03 :: Eliminate risk & compliance burden
BitMortgage features secure enclaves that make digital data verifiable, enabling compliance through mathematical proofs over reps & warrants.
04 :: Low variable cost model
Transform your mortgage operation into a variable cost business and originate end-to-end for under 100bps, compared to the roughly 350bps it costs today.
05 :: Scale volume
Run high-volume mortgage operations without need for headcount. Only constraint will be capital. Great for originators with large servicing books or latent customer bases (i.e. banks and scaled nonbanks).
Frequently
asked questions
01 :: How is BitMortgage different from other digital assets and blockchains?
BitMortgage is purpose-built for mortgage and can be thought of as the industry’s stablecoin equivalent. It doesn’t displace other general-purpose blockchains; rather, it incorporates design choices that meet the needs of highly-regulated mortgage use cases. These include secure enclaves for Dodd-Frank ATR compliance, zero-knowledge auditing capability, and a predictable low cost model to originate a loan.
02 :: How is BitMortgage different than an LOS
BitMortgage is a foundational layer. An LOS is an application. The BitMortgage Blockchain is decentralized by nature and can be thought of as a replacement for both an LOS and the entire loan operation that surrounds it. It’s an open network that can be shared by the entire industry, similar to a Visa or SWIFT. BTMs themselves are interoperable and post-issuance can be moved into a traditional LOS if desired.
03 :: Who can build on BitMortgage? When will BitMortgage launch?
We are currently focused on deploying BitMortgages within banks and foundational credit providers. We're providing select partners with priority access to our system and only plan to work with a handful of participants over the coming months. We are prioritizing partners that are in a position to mint BitMortgages this year.
04 :: Who will participate on the network?
We’re building BitMortgage with core principles of decentralization and neutrality. The blockchain will be secured by an independent and diverse validator set, including current design partners, consulting firms, and banks, with a roadmap toward permissionless validators and full decentralization in the future.