Inside Figure and Homebridge’s massive bet on blockchain

Peter Norden, the CEO of Homebridge Monetary Companies, has been ready a very long time to do one thing actually distinctive within the mortgage enterprise. Many years.

“I’ve all the time struggled with discovering a strategy to be completely different than my competitors,” Norden, a 43-year veteran of the enterprise, stated. “As a result of the fact is, if you actually have a look at it, all mortgage bankers promote just about the identical merchandise. And we just about promote these merchandise to the identical consumers, or put them in the identical securities. We actually don’t have lots of differentiation.”

When an funding banker referred to as Norden final yr to ask if he needed to satisfy up with fintech pioneer Mike Cagney, Norden agreed. 

By that time, Cagney had already raised over $1.2 billion in debt and fairness for his blockchain-focused fintech firm, Determine Applied sciences, and generated actual buzz round his vision for utterly remaking the mortgage course of. 

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