How the right eClose solution empowers consumers - Blog | Blend

How the right eClose solution empowers consumers

We are building Blend Close, our combined eClose solution, with a very specific purpose in mind — to put power back into the hands of the consumer.

Blend Close is a fully integrated digital experience with all the functionality for eSign, Remote Online Notarization or an in-person notary, eNote solutions, integration to an eVault, and recording.

It also has built-in flexibility to include human support as needed. Blend’s signature Co-pilot feature gives consumers the ability to reach out to their lender. At Blend, we believe it’s important to reach consumers in the way they want to be served and in the manner they shop for most other goods and services today.

With Blend Close, we aim to bring the era of the outdated mortgage closing to an end, and with it, the singularly unpleasant consumer experience that has marred the mortgage process.

“Designed for everyone except the consumer, the old-fashioned mortgage closing is the fitting end to the old-fashioned mortgage application. At best, it’s a bother for the consumer, and at worst, it’s the most stressful part of the whole process.”
Nima Ghamsari CEO, Blend

Providing a smoother, speedier, and safer eClose experience …

Consider the traditional mortgage closing, the way it’s been handled for years. What impressions and emotions immediately come to mind, especially during this time of social distancing?

Now consider a very different approach, a smoother, speedier, and safer experience that keeps mortgage applicants in the driver’s seat and gives them full control.

Imagine an intuitive all-digital closing where every step of the process, including customized support, is completed remotely — especially important amid the coronavirus pandemic.

Visualize a remote closing that incorporates plenty of opportunities for helpful guidance and interaction from your loan teams.

That’s Blend Close. It will transform an antiquated closing process — arguably the most confusing and inefficient part of the entire mortgage application process — reshaping it into a delightful consumer experience driven by individual choice and preferences.

… designed to give consumers a real sense of empowerment …

Blend Close, which can be used for mortgages, home equity loans, and home equity lines of credit, is designed to give consumers a greater sense of empowerment. In tandem, it will help your loan teams increase efficiency and decrease costs.

To deliver a real sense of consumer empowerment, lenders can look to an eClose solution that is built on a sturdy, three-legged stool. The key design principles include: ease of use throughout the application journey; helpful tools and prompts built into a minimalist workflow; and ample opportunities to reach out for human support as needed.

At Blend, we design our products to maximize the potential for a long-lasting, one-on-one interpersonal connection that drives consumer empowerment, transforming a one-time mortgage applicant into a customer for life.

… and resulting in a richly satisfying, end-to-end digital experience

Not all eClose offerings are created alike. We have been very intentional about how we are building Blend Close. We want it to deliver a fast and frictionless digital experience from start to finish.

With Blend Close and our broader Digital Lending Platform, deliver an end-to-end lending experience:

  • One experience from application to close for borrower and lender.
  • Document preview in one consistent and familiar interface, including contextual help.

Integrate all required tech and find the agility to keep growing:

  • Seamlessly integrates all the required technology and services into one cohesive experience.
  • Blend’s signature Co-pilot feature, which enables closing teams to assist customers in real time and along every step of the process.
  • Recommends the available closing options (all-digital or a hybrid solution) based on the borrower’s application.

Offer your consumers greater empowerment:

  • More convenient and shorter closing appointments.
  • Tools and pop ups that simplify the process.
  • The freedom to reach out for human support at any stage of journey. Combined with the intuitive automated guidance, this fosters a better understanding and increased visibility into the mortgage application process.

Choose an eClose solution that empowers your customers

As Nima said when we announced Blend Close in February, it’s time “to leave complexity behind and empower the consumer to be in control. Blend Close will automatically recommend the best possible experience for each loan while giving your customers the ability to choose the closing option they want.”

In the final analysis, consumer choice and empowerment is really the bottom line, both for your customers and the ongoing health and profitability of your business.

By encouraging a sense of empowerment with the right eClose solution now, you’ll be building a robust banking relationship with your customer for life.