Digital mortgage solutions for foreign nationals and crypto consumers

Milo is a fintech mortgage provider for foreign nationals and crypto consumers. 

While these two groups seem like they have nothing in common, they both have assets that are not recognized by the United States financial system. Foreign nationals often lack credit scores which inhibits their ability to prove they have a history of paying down debt. Crypto consumers have a liquid asset that can’t be used as collateral making them ineligible to qualify for a home purchase. 

The mortgage process can be long, complex, and overwhelming, even for U.S. citizens. The endless paperwork, intrusive financial documents, and a costly process. 

The goal was to create an end-to-end web application (designed for mobile first) that allows borrowers to get funded for a mortgage without the need for human interaction in under 30 days. The solution was quiet complex:

• A comprehensive web application focused on optimizing the user experience.

• Creating proprietary engines that calculate the borrowers maximum Loan to Value (LTV) ratio, suggested eligible rate & program and projected closing costs so the borrower knows how much cash is needed to close.

• Integration with 3rd parties — Salesforce for CRM, Smarty to autofill addresses, Loannex for rates, and Encompass to originate the loan.

• A dashboard experience to guide the borrower through the document upload processes so they can validate their financial situation.