During this week’s DC Fintech Week, Brian Brooks outlined why he sees blockchain as a strong solution for recording and securitizing mortgages. A few years before becoming Acting Comptroller of the Currency, Brooks was General Counsel for Fannie Mae, so he knows a thing or two about the sector.
In short, blockchain can act as a definitive mortgage registry, cut costs and enable a wider pool of investors for tokenized mortgage backed securities (MBS). The net effect is improved liquidity.
The U.S. mortgage backed securities (MBS) market is worth $11 trillion or around half the size of the Nasdaq.
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