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...

#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...

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

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...

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

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 ...

How many employees do you have today?

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

Bee

Mortgage app powered by agents and smart contracts

beemortgageapp.com

Ponte Vedra Beach, FL

Technology Fintech & Finance Female Founder Blockchain & Web3 Minority Founder

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Invested $20,000 this round + $77,777 previously

I was introduced to Curtis a few years ago and absolutely loved his brilliant idea to revolutionize the mortgage industry! My wife and I own a dental practice and we have been wanting to invest in a startup with potential and we found that, and more, with Bee! I love the ability to be approved for a loan in just minutes and closing in as little as 2 weeks….genius! Looking forward to the future and the domination of the mortgage industry! Let’s go!

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