No banks. No mortgage brokers.
A peer to peer smart mortgage contract designed to positively impact your life.

Mortgage Coin ICO
Coming soon

MortgageBlock is creating a blockchain-enabled platform where individuals can lend one another funds for purchasing real estate assets. Both borrowers and investors get to know each other with our proprietary matching engine and get better terms than they would from a bank, making real estate ownership accessible to more people.

We connect real people and enable investments into real people’s lives. In emerging markets we plan on turning villages into smart villages and then smart cities whilst investors are making a positive impact on returns and lives.

WHY MORTGAGEBLOCK

Owning a home is one of the most substantial accomplishments in life. Once we move in, the challenge starts. Over the next several decades our future is dictated by our monthly mortgage payment.

How many times have you or someone you know delayed pursuing your passions because you have to make the mortgage payment next month? Mortgage payments prevent us from taking steps like building a passion-fueled career, getting married, having a baby, taking a holiday, or caring for loved ones if they need us for a temporary emergency.

For centuries people who trust each other have always lent one another money, in fact, today’s mortgages often are just that. People who have money put it in the bank, and then the bank loans it to other people. Unlike banks, people offer one another more flexible terms. Someone having a temporary challenge  can ask for an extension for up to a maximum 6 months without  getting hit by a system that is designed to maximize its profit rather than make long-term investments in what people need.

Blockchain is taking us back to the days of trusting each other in the village but now we can do this on a global level impacting local communities in a totally trusted ecosystem.

THE INDUSTRY

The lending economy is changing rapidly due to changes in technology. Traditional financial services which historically have been provided by banks in a centralized manner, can now be provided through decentralized crowd initiatives.

This opens new opportunities for both investors seeking to maximize their return on investments and borrowers desiring more.

MISSION

MortgageBlock’s mission is to make property ownership more accessible through our Smart Mortgage Contract and provide investors with positive returns and the instant liquidity on the MortgageBlock Exchange (MBX).

MISSION

MortgageBlock’s mission is to make property ownership more accessible through our Smart Mortgage Contract and provide investors with positive returns and  instant liquidity on the MortgageBlock Exchange (MBX).

HOW IT WORKS

The MortgageBlock peer-to-peer blockchain enabled mortgage platform will allow anyone in the world to invest from as little as $100 into a Smart Mortgage Contract on the MortgageBlock platform.

1) Mortgage Application

A property buyer applies for a mortgage with MortgageBlock through any device. A detailed profile of the mortgage applicant including picture, personal introduction, income level, credit rating, social score , property location, property description and mortgage size will be created. Property buyers can choose from various smart mortgage contract templates to select the right mortgage.

2) Application Acceptance Process

Our rating system will assess the application and match the property buyer and investors.

3) Mortgage Approval/Offer

A mortgage is approved once it has pledges from investors totaling more than 125% of the mortgage amount. The property buyer than chooses to accept the investors pre-approved mortgage offer and, inputs on the MortgageBlock platform, their property details and lawyer information to start the purchase process.

4) Investment/Crypto

An investors creates an account and inputs the desired investment profile taken from information such as, where do they want to invest, what risk profile of the matched property buyer are they happy to receive.  Investors make pledges to mortgages they wish to invest in.

Mortgage Settlement (Fiat)

MortgageBlock will then convert the full amount via Founders Bank to fiat and transfer directly to the Property Buyer’s lawyer to complete the purchase of the property. Concurrently with the purchase, and in accordance with local conveyancing laws, the mortgage will be registered against title to the property in the name of MortgageBlock, who will hold title on behalf of the Smart Mortgage Contract holders.

6) Mortgage Token

The Investor receives a non-fungable Mortgage Token representing their mortgage investment amount plus interest generated by the Smart Mortgage Contract.

7) Repayment

The property owner makes regular monthly mortgage and interest repayments in Mortgage Coins that is instantly distributed to Investor wallets via the Smart Mortgage Contract. Once the complete mortgage on the real estate has been repaid the lien on the property will be released.

THE SECONDARY MARKET

This section describes the main elements of the secondary mortgage investment market operated by
MortgageBlock on the MortgageBlock Exchange.

1) MortgageBlock Exchange MBX

MortgageBlock will run a secondary mortgage market called MBX on the MortgageBlock platform. This platform will enable any investor holding Smart Mortgage Contract Tokens to offer them for sale against MortgageBlock Coins at marked to market prices. A transaction occurs after the buyer and seller agree on a price for the token. Payment for the token is made using Mortgage Coin in the amount matching the agreed to price. Once the payment transaction is confirmed the ownership of the Smart Mortgage Contract token is transferred to the buyer via the buyer and sellers token wallets.

2) Sellers

The seller can list their Smart Mortgage Contract Tokens for sale on the MortgageBlock Exchange (MBX) and can set an asking  price. The true current value of a token will be listed with the asking price along with the Smart Contract details. Current value of a token is calculated based on interest and repayments remaining in the Smart Mortgage Contract or any other tokenized template feature.


3) Buyers

The buyer can bid on existing Smart Mortgage Contract Tokens listed in the MBX and build a portfolio of tokens each representing a return on his investment via purchase with Mortgage Coins. Their portfolio of SMC Token investments are stored in their mortgage token wallets. Multiple template tokens ranging from 3% to 10% in returns can entice buyers to build a portfolio.

TECHNOLOGY

The heart of Mortgage Block is the platform based on blockchain which is used to store all transactions between platform users (whatever their role is) and the platform itself. Transactions are cleared through Mortgage coins and controlled by smart mortgage contracts. Mortgage Block mobile applications, web backend, MBX exchange interact with the platform through the proprietary API.


The MortgageBlock blockchain will be based on a technology that allows for fast and reliable transactions with no need to pay rewards to miners for each TX which is important for the transaction fee revenue model of Mortgage Block.

1) Credit and Market Score

MortgageBlock has a proprietary matching engine using traditional credit scores and
local market score plus social graphs to establish a unique rating for the
mortgage applicant.

2) Mortgage Approval/Offer

A mortgage is approved once it has pledges from investors totaling more than 125% of the mortgage amount. The property buyer than chooses to accept the investor pre-approved mortgage offer and inputs on the MortgageBlock platform their property details and lawyer information to start the purchase process.

3) 100K Crypto

Based on the investor’s expression of interest, the investor will be presented with a selection of primary mortgage investments valued in MortgageBlock Coins (or supported cryptocurrencies to be determined). These investment opportunities are tranches of a total mortgage. The selection will be based on a proprietary SmartMortgage matching algorithm.

4) Investment

Upon acceptance of an investment offer the investor releases payment of the funds in MortgageBlock Coins to the MortgageBlock escrow account. Once all the mortgage tranches have been covered by investor acceptances, a firm binding offer will be submitted to the mortgage client. The final investment is subject to the counter party / real estate owner’s acceptance of the mortgage terms and conditions. If this fails, the funds will be returned to the investor.

5) Settlement in Fiat

The Founders Bank notifies the Borrower and MortgageBlock lawyers that the loan funds (in fiat) are ready for transfer.


6) Register Title Deed

Based on the jurisdiction of the conveyance, either the Borrower lawyer or the Seller lawyer will handle the title transfer process which will then trigger the release of the funds, from Founders Bank, to the Seller.

7) End of smart contract

Once the final  mortgage payment is made, the smart contract is transferred back to MortgageBlock. This contract will then be considered null and void and the lien on the property released.

8) Mortgage Payment (MC)

The property owner makes regular monthly mortgage and interest repayments in Mortgage Coins and instantly distributed to Investor wallets via the Smart Mortgage Contract. Once the complete mortgage on the real estate has been repaid the lien on the property will be released.

9) MortgageBlock Exchange MBX

MortgageBlock will run a secondary mortgage market called MBX on the MortgageBlock platform. This platform will enable any investor holding Smart Mortgage Contract Tokens to offer them for sale against MortgageBlock Coins at marked to market prices. A transaction occurs after the buyer and seller agree on a price for the token. Payment for the token is made using Mortgage Coin in the amount matching the agreed to price. Once the payment transaction is confirmed the ownership of the Smart Mortgage Contract token is transferred to the buyer via the buyer and sellers token wallets.

CONTACT US

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No mortgage services will be carried out until such time MortgageBlock is authorized to do so by the regulatory authorities upon the approval of a mortgage licence for which MortgageBlock is in the process of applying.