Author profiles a hard-working immigrant who does 3 different gif economy things plus a bit of System D and would be almost immune to underwriting despite better income than many less industrious people. Interestingly this *also* hit professional class early in careers.
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Buying a home self employed, I spent an enormous amount of time & energy, as did my accountant & loan officer, on elaborate security theater for underwriting. One day, you’ll sign a transaction proving you own a given crypto address & software will dis/approve 30 seconds later.
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Literally dozens of hours of work for several people with very high value of time will be replaced by scanning some history in the blockchain and applying some heuristics in software
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Thanks for sharing
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I can’t tell… are you saying we should read it for the insights or because it’s unintentionally funny?
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@threadreaderapp unroll please -
Hello, you can read it here: https://threadreaderapp.com/thread/998343738744176643.html … Share this if you think it's interesting.
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should I read because it's good, or because it's wrong in a funny way? Also is it applicable outside the US? (I worked in a UK sub prime commercial mortgage lender, so am familiar with the jargon and the competing interests within a deal /company)
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