Question 1

Would you consider SapientX (currently also fundraising on Wefunder)? In my opinion, SapientX is much better than Alexa. SapientX also has a much higher accuracy rate than Alexa. Plus, SapientX now understands and speaks 41 languages.

Accepted Answer

Yes.

Question 2

How does information get verified on the blockchain such as income level, credit, proof of assets, etc? How is that information verified as correct when no human is looking at it? What cost does it cost the consumer to use (if any) compared other apps like rocket mortgage? Why...

Accepted Answer

#1 Credit, income and asset data is not verified on blockchain. It's verified from the point of source (credit bureaus, employers, and bank accounts) with these vendors that are acceptable to Fannie Mae Day 1 Certainty: CoreLogic for credit pulls.Account Check for asset verification. The Work Number for income verification.If verified with those vendors, the borrower does not have to provide any additional supporting documents to qualify. Once...

Question 3

How do you distinguish yourself from SoFi mortgage? More broadly, what would make you one of the winners in this space?

Accepted Answer

SoFi is a great company but a typical lender using legacy mortgage tech that's not optimized for a complete mobile mortgage experience. That's why they have a lot of loan officers processing loan applications, managing loan file data, and manually completing tasks to verify credit income and assets (along with clearing milestones). We're different because we have a complete mobile strategy like Robinhood, and the automation tech to power it without relying on humans to manage the data on...

Question 4

At which stage of the product development are you? What are the key challenges you've been facing in the development?

Accepted Answer

Bee App 1.0, a home affordability app, is live with an active and growing userbase. The next phase of the mortgage app, core 1003 submission with automated pre-approvals, is currently in development.  The primary challenge is capital, hence why you're reading this. Developmentally, we'll have connectivity/configuration problems to resolve, some known, some unknown. Once we build each automation part, the biggest challenge will be hooking it all up into ...

Question 5

How many employees do you have today?

Accepted Answer

4 full-time, 6 part-time, 9 contractors.

Bee

Mortgage app powered by agents and smart contracts

$1,800,812

Bee

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