< 2 months
Legacy Mutual Mortgage partnered with Blend to roll out its new digital mortgage platform, Revv, in less than two months.
Blend was able to quickly integrate with Encompass®, and train 50+ LOs and their team prior to national rollout.
The first loan funded through Revv was closed in 13 business days and the average loan funds 8 business days faster with Revv.
Winning with efficiency and transparency
Enabling borrowers and referral partners to complete actions and see results with speed, transparency, and communication throughout the entire origination process has established Legacy Mutual Mortgage as one of the most reliable lenders in the markets they serve.
The numbers confirm this: Over the last 18 months, prior to working with Blend, 92% of Legacy borrowers said their estimated closing date was met, and 94% of borrowers said they would use Legacy Mutual Mortgage again.
Finding the right partner
The challenge the Legacy team faced was meeting the growing digital demands of customers while maintaining their high standard of service.
They sought a technology solution that would allow them to exceed borrower and referral partner expectations while integrating into their existing systems, and start providing value immediately.
National rollout in two months
Thanks to Blend’s Encompass® partnership, which enables a seamless out-of-the-box integration, and Blend’s Customer Success team, the new platform was fully implemented in less than five weeks. With
the speed of the Blend user experience at its core, the Legacy team also found the perfect name for its new digital experience: Revv.
REVV Loans vs. Non-REVV Loans Since April 2017
|Avg. # of business days saved||Avg. % of total time saved|
|TRID application to decision||4||22%|
|TRID application to fund||8||21%|
|Initial application started in
Revv to fund
With Blend fully integrated, the next step was ensuring that every Legacy team member was empowered to use the new Revv platform.
“The Blend Deployment team came onsite and helped train over 300 staff members, including loan officers, supporting production staff, underwriters, and marketing teams to ensure everyone knew how to use the new service,” said Raven Johnson, Legacy Mutual project manager.
Delivering on a great experience for everyone
In just over three months, Blend enabled Legacy to drive faster funding times, improve closing rates, and provide a better borrower experience.
With close to 1,000 applications through the new platform, Legacy has seen an average borrower satisfaction rating of 9/10 and overall Net Promoter Score (NPS) of 65. That experience rivals some of the best technology service providers and is well above the NPS average for financial services.
Most importantly, with Revv, Legacy Mutual Mortgage has been able to decrease the time it takes to get borrowers funded and into their homes. The first loan funded through the Revv platform was completed in just 13 business days, resulting in another happy homeowner delighted by Legacy’s speed and reliability.
To learn more on how Blend can transform your originations business, visit our product page.