Continuously monitoring and updating mortgage ready data
A computer-implemented method of continuously updating information about a customer approved for a mortgage, the customer associated with a customer identification number. In one aspect, the method may include monitoring information accessed from a blockchain corresponding to the customer identification number, the information used to determine the customer is approved for a mortgage. In addition, the method may further include receiving new information about the customer, the new information used to determine the customer is approved for a mortgage. Further, the method may include updating a block of the blockchain to include the new information and recalculating the amount in which the customer is approved for a mortgage based upon the new information received.
1. A computer-implemented method of using blockchain technology to update information about a mortgage customer, the method comprising:
storing, at a blockchain system, a copy of a blockchain including information about a mortgage customer, the blockchain including a first block comprising an amount for which the mortgage customer is approved for a mortgage loan;
receiving, from a computing device, additional information about the mortgage customer;
generating, by the blockchain system, a second block and cryptographically linking the second block to the blockchain, the second block including the additional information about the mortgage customer;
determining, based on the additional information, an updated amount for which the mortgage customer is approved for the mortgage loan; and
generating, by the blockchain system, a third block and cryptographically linking the third block to the blockchain, the third block including the updated amount for which the mortgage customer is approved.
2. The computer-implemented method of claim 1 , further comprising:
determining, based at least in part on the additional information, an approval status of the mortgage customer for the mortgage loan, wherein the second block for the blockchain includes data indicating the approval status of the mortgage customer.
3. The computer-implemented method of claim 1 , wherein generating the second block includes generating a hash value based at least in part on a first hash value associated with the additional information and a second hash value associated with a previous block in the blockchain.
4. The computer-implemented method of claim 1 , wherein the additional information about the mortgage customer includes at least one of:
an updated marital status of the mortgage customer;
an updated homeowner status of the mortgage customer;
an updated income level of the mortgage customer;
an updated insurance status of the mortgage customer;
an updated education level of the mortgage customer;
an updated employment status of the mortgage customer;
an updated credit score data of the mortgage customer;
an updated deposit account data for a down payment; or
an updated payment data of the mortgage customer.
5. The computer-implemented method of claim 1 , further comprising:
transmitting information associated with the second block, to a node in a communication network.
6. The computer-implemented method of claim 1 , further comprising:
determining, and based at least in part on the updated amount for which the mortgage customer is approved for the mortgage loan, one or more mortgage ready real estate properties for which the mortgage customer is approved to purchase.
7. The computer-implemented method of claim 1 , further comprising:
determining, based at least in part on the additional information, that the mortgage customer satisfies, at a time associated with the additional information, a mortgage ready condition,
wherein the second block for the blockchain includes an indication that the mortgage customer satisfies the mortgage ready condition at the time associated with the additional information.
8. The computer-implemented method of claim 7 , wherein determining that the mortgage customer satisfies a mortgage ready condition comprises:
determining an expiration time associated with previous information stored in a previous block in the blockchain; and
determining, based at least in part on the expiration time and the time associated with the additional information, that the previous information stored in the previous block in the blockchain is not expired.
9. The computer-implemented method of claim 1 , wherein determining the updated amount comprises:
retrieving previous customer information from the blockchain; and
determining, using a machine learning component, a mortgage risk associated with the mortgage customer, based on the previous customer information retrieved from the blockchain.
10. The computer-implemented method of claim 9 , wherein determining the mortgage risk comprises detecting that an increased risk event has occurred, based on the previous customer information, using the machine learning component.
11. A system comprising:
one or more processors;
a network interface configured to interface with the one or more processors; and
a memory configured to store non-transitory computer executable instructions that are executed by the one or more processors to perform operations comprising:
storing a copy of a blockchain including information about a mortgage customer, the blockchain including a first block comprising an amount for which the mortgage customer is approved for a mortgage loan;
receiving additional information about the mortgage customer;
generating a second block and cryptographically linking the second block to the blockchain, the second block including the additional information about the mortgage customer;
determining, based on the additional information, an updated amount for which the mortgage customer is approved for the mortgage loan; and
generating a third block and cryptographically linking the third block to the blockchain, the third block including the updated amount for which the mortgage customer is approved.
12. The system of claim 11 , wherein the additional information about the mortgage customer includes at least one of:
an updated marital status of the mortgage customer;
an updated homeowner status of the mortgage customer;
an updated income level of the mortgage customer;
an updated insurance status of the mortgage customer;
an updated education level of the mortgage customer;
an updated employment status of the mortgage customer;
an updated credit score data of the mortgage customer;
an updated deposit account data for a down payment; or
an updated payment data of the mortgage customer.
13. The system of claim 11 , the operations further comprising:
determining, and based at least in part on the updated amount for which the mortgage customer is approved for the mortgage loan, one or more mortgage ready real estate properties for which the mortgage customer is approved to purchase.
14. The system of claim 11 , the operations further comprising:
determining, based at least in part on the additional information, that the mortgage customer satisfies, at a time associated with the additional information, a mortgage ready condition,
wherein the second block for the blockchain includes an indication that the mortgage customer satisfies the mortgage ready condition at the time associated with the additional information.
15. The system of claim 14 , wherein determining that the mortgage customer satisfies a mortgage ready condition comprises:
determining an expiration time associated with previous information stored in a previous block in the blockchain; and
determining, based at least in part on the expiration time and the time associated with the additional information, that the previous information stored in the previous block in the blockchain is not expired.
16. A non-transitory machine-readable storage medium storing instructions that, when executed, cause a processor to perform operations comprising:
storing a copy of a blockchain including information about a mortgage customer, the blockchain including a first block comprising an amount for which the mortgage customer is approved for a mortgage loan;
receiving additional information about the mortgage customer;
generating a second block and cryptographically linking the second block to the blockchain, the second block including the additional information about the mortgage customer;
determining, based on the additional information, an updated amount for which the mortgage customer is approved for the mortgage loan; and
generating a third block and cryptographically linking the third block to the blockchain, the third block including the updated amount for which the mortgage customer is approved.
17. The non-transitory machine-readable storage medium of claim 16 , the operations further comprising:
determining, based at least in part on the additional information, an approval status of the mortgage customer for the mortgage loan, wherein the second block for the blockchain includes data indicating the approval status of the mortgage customer.
18. The non-transitory machine-readable storage medium of claim 16 , wherein generating the second block includes generating a hash value based at least in part on a first hash value associated with the additional information and a second hash value associated with a previous block in the blockchain.
19. The system of claim 11 , wherein determining the updated amount comprises:
retrieving previous customer information from the blockchain; and
determining, using a machine learning component, a mortgage risk associated with the mortgage customer, based on the previous customer information retrieved from the blockchain.
20. The system of claim 19 , wherein determining the mortgage risk comprises detecting that an increased risk event has occurred, based on the previous customer information, using the machine learning component.