Yesterday Redwood Trust subsidiary CoreVest announced a $313 million securitization backed by single-family rental (SFR) loans. One of the distinguishing features is that loan payments are tracked using blockchain technology from Liquid Mortgage. This means that investors can view loan payment activity on a daily basis.
Last April, Redwood Trust funded Liquid Mortgage’s seed round for an undisclosed sum.
At that time, Redwood Trust’s Fred Matera, Head of Residential, said, “The mortgage market, in many ways, is a “holy grail” for blockchain technology, but the complexities and nuances of the mortgage business have made it a very difficult nut to crack. Our view at Redwood Trust has been to use blockchain as a tool to help streamline and evolve the existing mortgage ecosystem.”
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