Former Fannie Mae CEO Tim Mayopoulos joins Blend as president

Former Fannie Mae CEO Tim Mayopoulos joins Blend as president

2018 set a growth record for our consumer lending platform, which processed more than $230 billion in loan applications throughout the year. Now, with more than 350 employees and over 130 customers who comprise more than a quarter of the U.S. mortgage market, we’re looking forward to another year of incredible progress.

Despite our growth over the past six years, we’ve only started our journey towards bringing simplicity and transparency to consumer finance and making a difference in the financial lives of millions of people. In order to realize our mission, we need to constantly evolve as a company and complement our existing team and knowledge base with new leaders and skill sets. Today, I’m excited to announce four new additions to our leadership team.

Finding visionary leaders to help power our growth

I first met Tim Mayopoulos almost four years ago. Tim is best known for his successful tenure as CEO of Fannie Mae, where he helped the company become profitable post-financial crisis, pay the U.S. Treasury $167 billion in dividends, and reduce risk to American taxpayers. However, what struck me most about him was our shared vision of how technology can transform consumer finance.

Tim has been a champion of technology’s ability to move the consumer finance industry forward for decades. After he left Fannie Mae, he told me he had three requirements for his next role:

  1. The ability to do impactful and meaningful work
  2. An opportunity to grow personally and professionally by working with people he likes and respects
  3. A stimulating environment where he could have fun

Fortunately for us, he saw Blend as a company that could check every box. I’m proud to welcome him to Blend as president. The opportunity to bring an innovative and transformational leader with incredible industry expertise on board is the best way I can think of starting 2019. He will help us drive more value to our customer base as we grow.

Tim will be responsible for the go-to-market and corporate support functions here at Blend and will be a valuable addition to our leadership team and Board of Directors. His expertise in home lending and broader consumer finance from his days in banking and on Wall Street will be invaluable as we continue to expand our team and scale the company.

Bringing on the right people to power our potential

2019 is going to be another huge year for Blend. In addition to Tim, we’ve made a number of key executive hires over the past two months to enhance our capabilities.

Olivia Teich has joined as head of product. In this role, she will focus on partnering with consumers and the industry to identify the areas where Blend’s product can make the biggest impact to improve lending. Prior to Blend, Olivia held roles leading product at both Dropbox and Jive.

Kallol Das has joined as head of engineering from Invoice2Go. We’re leveraging his leadership and expertise to expand our engineering team while driving quality and efficiency. He partners closely with Olivia and our product team to improve quality and achieve our ambitious development goals.

Last, but certainly not least, we are fortunate to have added Justin Schuster from Acxiom and LiveRamp as our new head of marketing. He is already making progress in driving product awareness and improving how we tell the Blend story with customers and partners.

The road ahead

I’m very excited – and deeply honored – that we have been able to bring such incredible people to Blend and that they share our vision of the future. We are lucky that these new leaders have placed their bets on Blend for our next chapter, and I am confident they are the right people to help us set the pace for innovation in the consumer finance industry.

To our customers, partners, investors, and advocates, thank you for your support. We are eager to tackle the challenges that lie ahead in our pursuit of building a more seamless, transparent, and secure financial industry — and we look forward to partnering with you every step of the way.