The largest secondary market in America has been frozen for two years.

Why BV Mortgage

Originators hold paper at par on their books that the market wants to bid at eighty cents. They won't book the loss; without the loss, they can't sell; without selling, they have no liquidity. The freeze compounds.

Tokenized Mortgage Bonds are the trade that ends it. We buy at ninety cents — better than any market bid — and the originator commits to a twenty-cent preferred claim on the back end. Senior, mezzanine, and junior tranches absorb the cash flow through a true sequential waterfall.

The other three products in this suite — servicing, title, trade finance — are the rails that make the inaugural deal repeatable.