FinTechMortgage

“Father of securitization” Lewis Ranieri partners with blockchain company Symbiont

Partnership seeks to transform mortgage industry with blockchain technology

On Wednesday, Ranieri Solutions announced a partnership with blockchain and smart contract company Symbiont to explore opportunities to use Symbiont’s platform to “systemically improve all aspects of the mortgage industry.”

“Ranieri’s deep knowledge of the mortgage market coupled with Symbiont’s expertise in deploying enterprise blockchain networks led to the partnership between the firms,” the two companies explained in a press release.

Ranieri Solutions, a financial services technology investment firm, was founded by Lewis Ranieri, better known as the "father of the securitized mortgage market." The firm invests, develops and applies technology solutions focused primarily on the real estate and mortgage markets.

“The mortgage market, despite significant efforts, continues to lag behind from a technological standpoint creating inefficiencies that impact mortgage loans throughout their lifecycle,” Ranieri said. “By partnering with Symbiont, a proven blockchain pioneer, Ranieri Solutions believes that together we can implement this transformative technology to bring necessary efficiencies, transparency, and security to the mortgage markets.”

Symbiont's CEO Mark Smith said the two companies were eager to take on the challenges of the mortgage industry.

“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,” Smith said. “To solve these problems alongside Lewis Ranieri, the genius behind modern securitized markets and his team is a once in a lifetime opportunity for me personally and a seminal moment in the history of Symbiont as an organization.”

About the Author

Most Popular Articles

Housing market flashing recession signal

The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.

Oct 11, 2019 By

Latest Articles

Foreclosure activity drops to lowest level since 2005

Foreclosure activity sank in the third quarter of 2019, dropping to the lowest level in nearly 15 years, according to the latest report from ATTOM Data Solutions. Foreclosure activity in the third quarter fell 19% from a year ago to the lowest level since the second quarter of 2005, a 13-year low.

Oct 16, 2019 By