Home Lending Pal operates a blockchain-based, AI-powered mortgage advisory platform and technology-enabled marketplace that aims to reduce bias and friction in the home research and origination process. The platform assists consumers—particularly minorities and millennials—in assessing mortgage readiness, guiding them to actions that improve access to financing and helping them select originators using an AI algorithm that predicts probability to close. It de-identifies HMDA data until after underwriting decisions and uses distributed ledger technology to digitally validate underwriting data from a single documentation upload, allowing multiple lenders to evaluate borrowers without upfront disclosure of age, sex, or race. The company emphasizes borrower data empowerment, personalized education, and reducing origination friction for qualified borrowers while creating roadmaps for unqualified borrowers to become qualified. Home Lending Pal planned a demonstration of the next phase to the Consumer Financial Protection Bureau in early September and a public release for consumer use and feedback by late September. As of the article, the company had raised $3.5M to date. Home Lending Pal (HLP) offers an Intelligent Mortgage Advisor that uses machine learning and distributed ledger technology to simulate underwriting and match prospective borrowers with mortgage loans and lenders. Prospective customers link banking information and receive a soft credit pull through Equifax to create a starting underwriting profile. HLP’s platform uncovers hidden homeownership costs, compares likelihoods of approval across lenders, and allows lenders to see necessary underwriting data without requiring borrowers to disclose age, sex, or race. The company is co-located in Durham and Orlando and was selected for IBM’s Hyper Protect Accelerator in 2019 to enhance security and scalability. HLP’s founders, CEO Bryan Young and COO Steven Better, emphasize serving BIPOC communities, plan to give 2% back to those communities, and work with former HUD employees to help women and close the wealth gap. Recent funds have supported new hires, a mobile app launch, and web interface updates.

Total raised

$3M

Funding rounds

2

Latest round

Series A

Latest activity

Aug 2021