Abstract
This paper contains field research on problems in mortgage and real
estate transactions and a technological solution proposal for these
issues. Interviews were conducted on players in the mortgage and real
estate industries in Saint Louis, Missouri. These interviews led to
conversations revealing systematic issues and trends in certain
processes of mortgages and real estate transactions. Furthermore, a
survey of 40+ year old homeowners and mortgage customers was conducted
using Survey Monkey, which asked questions relating to customer
dissatisfaction, bottlenecks and customer opinions of the mortgage
process. These responses gave insight on what issues mattered to
mortgage customers the most. Some descriptive statistics were derived
from the survey results to help interpret them. A proposal for a
blockchain based mortgage assistant platform is made at the end of the
paper, which explains how blockchain, OCR and chatbots can potentially
solve problems found in the survey.