Canopy and Liquid Mortgage Partner to Provide Due Diligence and Digital Asset Life-of-Loan Product
16 Mar, 2022, 09:00 ET
DENVER, March 16, 2022 /PRNewswire/ -- Canopy Financial Technology Partners and Liquid Mortgage announced today they have entered into an agreement to integrate Canopy's due diligence product with the Liquid Mortgage digital asset solution. Once fully integrated, loan investors and securities issuers will have the ability to attach due diligence reporting and data directly to a loan-backed digital asset on a blockchain. This reporting will remain with the digital asset in a verifiable and transparent format for the life of the loan. As an additional offering, Liquid Mortgage will enable borrower payment tracking immediately upon digital asset creation, providing investors with more timely loan performance data.
"This partnership is a giant first step in the migration toward a true digitally native mortgage," said John Levonick, CEO of Canopy Financial Technology Partners. "This solution gives loan investors, and all subsequent assignees, access to verified and timely data, for the entire lifecycle of the asset…diligence by a third-party review firm conducted once, but accessible to all future parties."
"Our ultimate goal for this partnership is to shorten timelines for investors as loans are traded and securitized," said Ian Ferreira, Founder and CEO of Liquid Mortgage. "As we reduce friction and increase transparency in the loan market, we believe these cost savings can eventually be passed along to the borrower."
Canopy and Liquid Mortgage expect to have the first loan-backed digital assets with full due diligence created in the second quarter of 2022. For additional information, please reach out Canopy or Liquid Mortgage directly.
Ian Ferreira, CEO
Email: [email protected]
Canopy Financial Technology Partners
Andrew DeGood, CVO
Email: [email protected]
Canopy Financial Technology Partners LLC is a tech enabled ABS/RMBS Due Diligence and Third-Party Review firm approved, or deemed acceptable, to each of the active Nationally Recognized Statistical Ratings Organizations ("NRSROs" or "Ratings Agencies"). A technology and service provider to the digital and digitalized financial services industry focused on insuring data quality, quantifying asset level credit, compliance and collateral obligations and mitigating consumer debt risk as a data validation oracle. Our mission is to leverage emerging technology to reduce the friction and risk associated with Mortgage or consumer debt origination, servicing, and purchase and sale, to give Originators, Investors and all interested parties transparency into asset quality and risk.
About Liquid Mortgage
Liquid Mortgage, Inc. was founded in 2018 with the vision to increase transparency and efficiency in loans and securitizations using blockchain technology. Liquid Mortgage is a patented technology to create loan-backed digital assets and manage documentation, payments, and transactions throughout the loan lifecycle. Its mission is to alleviate pain points and inefficiencies in the current system by introducing innovation into the post-origination process. For more information, please visit www.liquidmortgage.io.
SOURCE Liquid Mortgage, Inc.
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