Canopy Financial Technology Partners‘ due diligence product is being integrated with Liquid Mortgage’s 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,” says 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,” states 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.
