
Show HN: Oatfin – The marketplace for buying and selling loan portfolios - paulynicej
https://www.oatfin.com
======
paulynicej
Hello, I'm Jay and I'm the founder of Oatfin. Would love to get any feedback.

Oatfin is a marketplace for buying and selling loan portfolios. The product is
primarily aimed at financial institutions and also investors who want to buy
and/or sell the loan portfolios.

There are many reasons a financial institution would sell or buy loan
portfolios. For example, when a financial institution fails, the FDIC auctions
the loan portfolios. But the current process is pretty difficult. Some of the
problems for example: 1. There is a 32 page application to become a bidder. 2.
A bidder has to put down a 50,000 dollar deposit on top of the time and
resource it takes to do the due diligence for all the loans in a portfolio.
Other reasons can be: compliance, liquidity, and reduce risk exposure. On the
other side, a buyer can buy a loan portfolio at a significantly reduced price.
Larger investment banks sometimes offer securities that are backed by the
loans (think of the 2008 financial meltdown).

Oatfin takes care of the due diligence using machine learning as well as
protects the privacy of the buyer, seller, and consumer information using
blockchain.

Hope that explanation helps! Thank you!

------
paulynicej
A quick demo of the Oatfin MVP:
[https://www.youtube.com/watch?v=5k3054egDUs](https://www.youtube.com/watch?v=5k3054egDUs)

