Istakapaza Inc
Founded 2022
About Istakapaza Inc
Istakapaza - blockchain based SaaS platform that simplifies home mortgages & reduces friction across all primary & secondary participants. It can drive 2-2.5% improvement via identifiable source of data, non-tampered documents and cost-reduction (& improved cash flows by 25-60 days) due to avoidance of repeated validation of same documents as loans change hands from origination to securitization. Mortgage origination is highly inefficient as it changes hands from originator/broker, to the warehousing bank, to investors, the servicers, to the agencies (Freddie/Fannie) & increasingly the Hedge Funds. The same mortgage documents are subject to repeated appraisals, underwriting and validations due to lack of security, trust in the system, and inadequate understanding of exact composition of loans. This entails duplicative costs, stuck cash-flows and a system based on distrust across the chain. Moreover, homes gets refinanced every 3.6years (av.) but only 18% of borrowers go to the same lender - poor customer retention across entire home-mortgage ecosystem. We run the entire loan origination documentation on blockchain making the platform the source of immutable & undeniable provenance for all mortgage documents. This makes the loan process quicker & easier with improved borrower retention by 3X, reduces time of closure on refinance, reduces duplicative costs and releases cash-flows for lenders in selling their loans to the investors, who in turn can convert loan pools faster and cheaper into mortgage backed securities (MBS), traded by secondary market players. This helps manage rate-risks and market-risks more efficiently across the mortgage chain. There are many other related benefits configured too.
Company Facts
- Founded: 2022
- Operating status: Operating
- Company type: For Profit
- IPO status: Private
- Employees: 1 – 10
- Website: istakapaza.us
- Phone: 321-400-8329
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