Ranieri Solutions is to partner with financial blockchain firm Symbiont to work on mortgage-based blockchain solutions. Lewis S Ranieri is referred to as the father of securitized mortgage market and came under scrutiny during the subprime mortgage crisis.
In the announcement, Ranieri said: “The mortgage market, despite significant efforts, continues to lag behind from a technological standpoint creating inefficiencies that impact mortgage loans throughout their life cycle”
Symbiont started in 2015 with a focus on capital markets. Mark Smith, Symbiont’s CEO commented: “When Symbiont was founded, it was my dream and vision to develop decentralized technology solutions that could solve the root problems that were at the heart of the financial crisis. Blockchain and smart contract technology is proving to be that solution.”
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