Introducing ‘MORGAN™- Sun West Mortgage Launches First-Of-It-It-Kind- Blockchain Platform
This article was produced by Morgan
The first of its kind blockchain platform.
After years in development, Sun West Mortgage Company, Inc, (SWMC), a national leader in mortgage origination and servicing, has launched the latest iteration of its proprietary Artificial Intelligence platform Morgan™. Sun West’s new application of open ledger technology is groundbreaking and will redefine how real estate sales are conducted.
Sun West Mortgage CEO Pavan Agarwal said: “Since we were founded in 1980, the landscape in which we get a home loan has changed. The multi-trillion dollar real estate market is based on countless one-off person-to-person transactions. Once upon a time wonderfully simple, but over the past few decades it has become unnecessarily complex. The invention and mass adoption of blockchain-based technology has given us a new opportunity to streamline these processes, and Morgan™ is designed to redefine the way we trade real estate, while simplifying and correcting this over complication Sun West reclaims this simplicity by turning the traditional home buying process on its head.
Powered by SWMC’s sister company Celligence™ and paired with their TRU Approval™ platform, Morgan’s™ AI technology converts a pre-approved property-specific loan into a property-agnostic tradable Non-Fungible Token (NFT). This NFT is backed by real dollars and guaranteed by Sun West. This approach not only opens up buyers and sellers to wider opportunities, but gives all parties in the income bracket the opportunity to present and accept offers with certainty and without unexpected financing conditions. Thus, the borrower is now armed with the strength of an “all cash” offer that home sellers prefer.
“What we traditionally call a home buyer is now a seller of their unique credit-qualified NFT. If the trade value (the price of the home) is accepted and approved by the seller and property owner, the transaction is registered openly. To ensure that the NFT is traded as agreed, NFT- the seller (homebuyer) two choices, they can close the transaction and transfer the NFT, or if they choose not to fulfill the trade, they lose their earnest money deposit, as usual in any standard property purchase, Agarwal continues.
Since its soft launch, Sun West has diligently tested and defined Morgan’s™ real-world performance. The results have been remarkable, of the thousands of loan terms Sun West receives daily, Morgan™ reviewed and resolved 99 percent within two hours.
Over 30 percent of those received were reviewed in 30 minutes. The result is a 100 percent success rate in properly underwritten and guaranteed TruApproval™ loans.
While the Sun West team is excited to launch its market-making mortgage-based blockchain platform, Pavan Agarwal remains passionately committed to creating transformative technology.
West Mortgage Company, Inc. Social Media
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