Blockchain Technology in Mortgage Banking: A Solution to Housing Affordability and Security Concerns in the U.S.

Abstract

This study explored the integration of blockchain technology into mortgage banking operations to address key issues such as housing affordability, process efficiency, and security concerns in the U.S. The research investigated how blockchain could streamline mortgage processes, ensure transparency, and mitigate risks associated with traditional banking systems. It drew on insights from the challenges faced by Nigerian mortgage banks, particularly the impact of political instability on financial markets. By leveraging the potential of blockchain to enhance operational transparency and efficiency, the study aimed to provide a comprehensive understanding of its benefits and limitations. This research contributed to the broader discourse on technological innovations in financial services and offered actionable recommendations for improving mortgage banking systems through advanced technological solutions.