@macs
TradFi lending is so annoying. Let's fix it. I'm applying for mortgages and it's such a hassle.
Problems:
1. Too many institutions with different offerings. I just got this email from a potential home lender where they outline several kinds of loans they could match me with.
2. Institutions have siloed databases. To check my loan terms from each lender, I need to submit the same information over and over, and often even need to talk on the phone with someone at each institution.
What can we do? Develop a protocol that;
- Lets crypto users associate the application information like credit score, income, length of employment, current rent, ... . Then each application can just be a signature that lets a lending protocol view this information.
- Represent properties onchain.
- Lets borrowers issue debt for the acquisition of a property, & let's lenders buy that debt. This way lenders can compete to offer capital to
(Borrower,asset) Pairs based on models of cash flow the borrower can give to keep the asset.
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