We’re excited to announce that Blend is partnering with Freddie Mac for automated asset verification through the Loan Product Advisor® asset and income modeler (AIM) program. AIM for Assets is a solution that simplifies the underwriting process for lenders providing digital mortgages with Freddie Mac. Like many of the things we do, this partnership will tangibly improve the lives of consumers and lenders — don’t worry, we’ll explain.
Ready to start taking advantage of AIM? Let’s connect.
By empowering lenders to replace paper documents with connections to source data, AIM enables a faster and more efficient verification process. The result?
- Shorter loan cycles
- A superior home-buying experience for the consumer
- The peace of mind offered by protection against repurchase
Through this partnership, any loan where a consumer successfully connects to a financial institution is automatically eligible for automated assessment of assets through AIM.
Blend is the first digital lending platform approved for Freddie Mac’s AIM for Assets
We’re the first to be approved for Freddie Mac’s Aim for Assets program — and we’re poised to take full advantage of this unique opportunity.
Our goals are twofold:
- To make it incredibly easy and intuitive for consumers to connect their financial accounts
- To significantly simplify how lenders initiate verifications
Any time we introduce new technology integrations, we aim to ensure every affected stakeholder ends up in a better place. With our AIM for Assets approval, we are uniquely poised to make our customers (and their customers) very happy.
An application designed to increase account connection rates
In order to maximize the value of AIM, it’s imperative to encourage consumer connection to financial accounts. Through Blend’s intuitive application process, we offer a seamless ability for consumers to make these connections, securely. Consumers are not bogged down with extra tasks, such as an extra log-in to a separate system later in the process.
To further help consumers, Blend was designed to win trust — we’ve invested in user research to fine-tune our application workflow and design, ensuring a trustworthy and inviting experience. The result is industry-leading adoption: up to 62% of consumers choose to connect their accounts.
To sum up: we help lenders help their consumers. It’s our way of keeping everyone happy.
A streamlined verification process for loan teams
So how does AIM work in practice for loan teams?
Loan teams can complete the verification process in a few clicks, saving valuable time and increasing productivity. The ability for consumers to connect an account is embedded in the application — no initial set-up is required.
After a consumer has connected their account, Blend Verification automatically imports asset data and creates an asset verification report. This report is perfectly set up so that Loan Product Advisor® can perform an assessment for rep and warranty relief eligibility.
Blend continues to partner with industry leaders to reimagine the digital mortgage
Through strong relationships and collaboration with industry leaders like Freddie Mac, Blend is paving the way for ongoing advances in digital lending. With every new project, Blend redefines what is possible with data in the mortgage business: increasing productivity and cost savings for our lenders, while providing a better home buying experience for consumers.