Methods and apparatus for ingestion of legacy records into a mortgage servicing blockchain
Abstract:
Apparatus and methods for ingesting Legacy Records of mortgage loan servicing actions onto a Blockchain. Legacy data is converted from a relational database format into a blockchain format and entered as one or more blocks on a blockchain. Portions of the blockchain are distributed to Participants in the blockchain, such as the Borrowers, Regulators, Servicers, and Vendors. The present disclosure further provides a method for homogenizing a variety of Vendor Formats for inclusion on the Blockchain and memorializing execution of a smart contract on the Blockchain.
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