DENVER, April 19, 2021 / PRNewswire / – Liquid mortgage announced today that it has raised capital and entered into a strategic partnership with Redwood Trust (NYSE: RWT). The fundraising and partnership are the culmination of a month-long commitment where Redwood Trust tested Liquid Mortgage technology and developed an actionable strategy for building a sustainable mortgage ecosystem. The partners share the common mission of deploying blockchain technology within the current market infrastructure rather than reinventing the mortgage ecosystem overnight.
Liquid Mortgage is based on a public blockchain and is intended to make the reporting and delivery of credit data faster and more efficient. While blockchain has long been popularized in the community as a promising solution to problems with the old mortgage infrastructure, the industry has yet to make sensible use of the new technology. Liquid Mortgage and Redwood Trust have developed an actionable strategy, placing nearly $ 300 million in loans on the Liquid Mortgage testing platform.
With the funds raised from the capital increase, Liquid Mortgage will continue to develop its technology and expand its team to expand its solution to the broader mortgage ecosystem.
“The mortgage market is a ‘holy grail’ for blockchain technology in many ways, but the complexities and nuances of the mortgage business have made it very difficult to crack. Our view at Redwood Trust was that blockchain as a liquid mortgage is a partner who shares this philosophy and focuses on actionable apps and applications for the blockchain technology to dramatically improve transparency, efficiency and trust, “said Liquid Mortgage Fred Matera, Managing Director and Head of Residential at Redwood Trust.
“”Ian Ferreira A background as a mortgage investor and an understanding of the securitization and origination process enabled Liquid Mortgage to envision an innovative blockchain solution for the mortgage industry. I am very excited to be working with Ian, other industry professionals and my colleagues at Redwood Trust to not only improve what we have today, but potentially change the industry in the future, “concluded Matera.
Liquid Mortgage is excited about the strategic partnership with Redwood Trust. Ian FerreiraThe Founder and CEO said, “Our collaboration with Redwood Trust over the past few months has been excellent. We agree with our assessment of the potential and future implementation of blockchain and are pleased to have Redwood as a partner and investor.” “
Liquid Mortgage and Redwood Trust plan to involve other market participants over the next few months to build a robust ecosystem with Liquid Mortgage technology as a key component.
Ian Ferreira, Founder
E-mail: [email protected]
About liquid mortgage
Liquid Mortgage, Inc. was founded in 2018 by the former portfolio manager and trader. Ian Ferreirawho recognized the possibility of using blockchain technology in the mortgage market to increase transparency and efficiency in loans and securitisations. Liquid Mortgage is a patent-pending digital asset and data platform that enables loan-level documentation, payments, and related information to be validated in a timely and immutable manner. Its mission is to alleviate weaknesses and inefficiencies in the current system by innovating in the process after it is created. Please visit LiquidMortgage.io for more information.
About Redwood Trust
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance firm focused on different areas of home loan. Our operating platforms hold a unique position in the real estate finance value chain, providing liquidity for growing segments of the US real estate market that are not served by government programs. We offer tailor-made real estate loan investments to a diverse mix of investors via our first-class securitization platforms. Sales activities for whole loans; and our publicly traded stocks. Our consolidated investment portfolio has evolved to include a diverse mix of residential, commercial and multi-family properties. Our goal is to provide shareholders with attractive returns through a stable and growing stream of income and dividends, capital appreciation, and a commitment to technological innovation that enables risk-conscious scaling. Since going public in 1994, we have run our business in multiple cycles, building a track record of innovation and a world-class reputation for services, and a sound approach to credit investment. The Redwood Trust is managed internally and structured as a Real Estate Investment Trust (“REIT”) for tax purposes. For more information on Redwood Trust, please visit our website at redwoodtrust.com or connect with us LinkedIn, Twitter, or Facebook.
SOURCE Liquid Mortgage, Inc.