Zventus Launching “Mortgage Blockchain Lab”

California-based business consulting firm Zventus has announced a new blockchain venture geared towards the financial services industry. The new project is being launched in collaboration with mortgage domain experts, technology partners, and universities to create blockchain technology for the mortgage industry. The “Mortgage Blockchain Lab” will focus on developing new products, services, and solutions to enhance the loan process. The company predicts the results will make mortgage loans more secure, easier to manage, and less expensive, reducing costs for financial services firms by upwards of 50% per loan. A blockchain is a type of distributed database that exclusively stores cryptocurrency transactions that cannot be removed or manipulated. Cryptocurrencies are digital currency systems developed and traded using a variety of computational…

Morning Roundup (8/27/21) – Eviction Moratorium Lifted, Bitcoin Play Raises Concerns

Good Morning! Today is Friday, Aug. 27. A terrorist attack at the Kabul airport killed 13 U.S. service members and at least 90 Afghans. President Biden said airlift efforts would continue despite the attack. Capitol Police officers sued former President Trump, along with groups like the Proud Boys, over the January 6 riot, saying they incited violence against officials and police. Hawaii’s Governor David Ige asked travelers to stay home through October as hospitals struggle with rising Covid cases. And in mortgage and housing news… Mat Ishbia’s Bitcoin Play Raises Concerns: UWM CEO Mat Ishbia’s announcement that he intends to accept Bitcoin has raised questions among economists and within the industry about encouraging consumers to rely on the “volatile” cryptocurrency for their mortgage payments.…

Experts Question UWM’s Decision to Accept ‘Volatile’ Bitcoin for Mortgage Payments

United Wholesale Mortgage CEO Mat Ishbia made headlines with the announcement his company—one of the largest lenders in the U.S.—plans to start accepting Bitcoin as payment for mortgages later this year. “That’s something that we’ve been working on,” Ishbia said, “and we’re excited that hopefully, in Q3, we can actually execute on that before anyone in the country because we are a leader in technology and innovation.” Ishbia’s announcement puts his company on the front line of the debate over the potential dangers of novel techno-currencies like Bitcoin. Bitcoin is among the class of financial products known as “cryptocurrencies,” digital currency systems developed and traded using a variety of computational and security networks. The process of developing and obtaining cryptocurrencies can…