Blockchain Tested for Making Mortgage Securities Easier to Track
- Credit Suisse, Wells Fargo, Western Asset among firms in trial
- Distributed ledger technology used to simplify securitization
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A group of big financial institutions wants to use the blockchain to make it easier and less costly to track home mortgages packaged into securities.
Credit Suisse Group AG, U.S. Bancorp, Wells Fargo & Co. and Western Asset Management Co. said Thursday that they successfully tested the distributed ledger technology as a way to standardize the data involved in securitized home loans and make it more transparent.