RHS 170 - Josip Rupena Explains the World of Crypto Home Mortgages

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In this episode of The Ryan Hanley Show, Ryan Hanley sits down with Josip Rupena.

Josip Rupena is the founder and CEO of Milo.

Milo is reimagining how global and crypto consumers access credit and financial services in a borderless world. They have built the first digital home lending solution to buy U.S. real estate or cash out their equity.

This is an incredible conversation you don't want to miss...

Episode Highlights:

• Josip shares about his background in financial services and asset management and what led him to start Milo. (5:57)
• Josip mentions that he hopes that the current market, in which mortgage volumes are decreasing due to high rates and a lack of inventory, inspires agencies to become more innovative, including discovering other means of insuring income and other factors. (8:18)
• Josip explains that they've done over $130 million in mortgages and haven't had a single person who hasn't made payments. (13:36)
• Josip shares what a crypto mortgage is and how it works. (17:29)
• Josip discusses the loan application and payment procedure. (22:18)
• Josip mentions that they also release USDC stablecoin for just 40% of the loan amount because it is tied one-to-one to the dollar. (23:31)
• Josip discusses some of the regulatory issues they faced as a lender, as well as their advantages. (28:35)
• Josip explains why they chose Coinbase over the other platforms. (30:46)
• Josip mentions that things are changing with crypto and that it is maturing as an asset class, in addition to the consumers who invest in it. (42:49)
• Josip hopes that more companies will enter the market at some time so that they can all come up with new ideas and grow quicker since the client will benefit. (45:29)
• Josip believes that Crypto Mortage is the first mortgage product that can really help a consumer preserve and potentially expand their net worth over time. (47:31)

Key Quotes:

• “We want to make sure that we minimize the risk of who we do business with, that we're compliant. Because ultimately, when we give someone a loan…it's a long term asset. It's not a two month speculative asset, right? People are thinking about this in terms of like, it impacts their life. So we have to take that responsibility very, very seriously.” - Josip Rupena
• “I hope at some point that there are more companies that come into the space so that we can all ideate and evolve faster. Because ultimately, the one who's going to benefit is going to be the customer, right?, with more companies like ours.” - Josip Rupena
• “What's unique about this product is it's really the first mortgage product that can really help a customer preserve their net worth and possibly grow it over time. ” - Josip Rupena

Resources Mentioned:

• Josip Rupena LinkedIn
• Milo
• Reach out to Ryan Hanley
• Rogue Risk
• Finding Peak

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