| Website | kitetale.com |
| Category | Enterprise |
| Phone | 925-980-8817 |
| Employees | 5 |
| Founded | 9/08 |
| Description | Third Party Data Aggregator |
KiteTale is a disruptive technology, that, as a third party data aggregator and auditor for the originating and secondary residential mortgage environment, helps banks, title companies, rating agencies, auditors and regulators validate asset valuation, control risk and meet compliance mandates on a cross institutional, patent pending, anonymized platform.
KiteTale is like the CarFax for mortgage-backed investments.
Internal competition lies with the institutions’ current data storage, however this system has no independent, neutral data integrity cross check, and the institutions’ current practice was a significant contributor to the mortgage meltdown.
External competition would be the Mortgage Electronic Registration System, whose top management is currently being questioned by Congress for inappropriate foreclosure practices.
KiteTale’s anonymized platform allows for cross institutional data sharing without proprietary risk or damage to competitive integrity as mandated by the Regulatory Reform Bill passed in July [S.B.1327,154(b)(6)].
We have started prototype development. We are currently looking for seed round funding in the amount of $1.3M. (8 months through beta bank testing), looking for early adopters to be on board by month 10. We cannot accept funding from prospective clients, as we are a third party, neutral, transparent environment free from industry influence. Our prospective technology partners are Verizon and Oracle. Our marketplace is a greenfield opportunity in excess of $1.15B and our platform can be repeated in alternate credit cycles like commercial mortgage and municipal.
