What is Blend?
Blend's technology powers the modern, digital mortgage transaction. Built on a platform that connects data instantly and configures to meet any unique originations workflow, Blend is reinventing the mortgage lending experience for lenders and borrowers alike.
A Single Hub from Application to Closing
Blend's end-to-end solution offers borrowers an elegant portal to submit their documents and track status, and a single tool for your team to perform all loan-related tasks and communicate directly with borrowers.
- Easy completion of the mortgage application form through digital data sources like tax, paystub, and bank information
- Painless collection of all borrower-relevant documentation
- Seamless provision and delivery of all disclosures for full compliance
- Any additional process a lender may want to configure through Blend's workflow engine
SaaS Technology Provider to Top Lenders
Blend is neither a mortgage originator nor a servicer. Rather Blend is a deep Silicon Valley technology company solely focused on building products that empower top lenders to originate mortgages more efficiently and compliantly while offering their borrowers an amazing user experience.
Blend provides your borrowers with a friendly user experience and easy access to financial accounts, enabling them to fill out their mortgage application securely - from any device - in just 20 minutes.
Blend frees your originations team of burdensome, repeatable work through intelligent automation and easily-configured workflows. Sophisticated rules, data validation and comprehensive audit logs ensure full compliance.
A modern digital experience from application to close
Everyone is accustomed to using their mobile device for most of life's transactions. Blend brings mortgages into the modern age by offering a fast and easy way to apply, with friendly guidance and clear insight into one's loan status along the way.
A Friendly Personal Experience
Your customers are greeted with a familiar, chat-style interface that guides them throughout the entire application process. Steps and actions are explained in plain terms, alleviating the complexity and burden of filling out form fields.
So much more than a 1003
Blend is not just an online version of the 1003. Third-party integrations, financial connectivity, and intelligent automation allow the majority of the application to be populated automatically.
What is connectivity?
The majority of borrower-related information required to process a mortgage - whether tax returns, W2s, or paystubs - is available today in digitized form. Through Blend's connectivity, borrowers are able to authorize and push their information securely to your lending team for swift approval.
Taxes & W2
Accounts & Assets
If connectivity is unavailable or a borrower elects to not connect accounts digitally, support is available for uploads via the device's camera, or through other online storage services (Box, Dropbox, SkyDrive, iCloud, Google Drive).
Is it safe and do borrowers trust it?
Borrower data is sacred. That’s why Blend built bank-grade security directly into the platform, ensuring the safety and integrity of all data throughout the loan lifecycle and beyond. Extensive usability studies demonstrate that a majority of borrowers prefer to fill our their mortgage applications by connecting their accounts.
Insight into status and follow ups
Upon completing the application, any follow-ups, conditions, or additional questions are easily routed to a single hub, securely managing the back and forth. Borrowers can track status and easily understand any tasks they must complete.
Should borrowers need further assistance, clear access to their loan team is available directly within the application.
Empowering your team to efficiently manage their pipeline
Blend collects and structures borrower data and documents to provide valuable insight into which loans need attention and next steps - all in a simple, intuitive interface.
Real-time co-browsing experience
See exactly where your borrowers are in the application process, uploading fields or documents on their behalf if necessary. Filling out the 1003 is simple, intuitive and as collaborative as possible, reducing frustrations and time to close, whether your borrowers are in your office or miles away.
Direct channel to your borrowers
Throughout the processing, underwriting, and closing phases, Blend provides your team with clear access and communication to your borrowers. Keep your borrowers up-to-date on their latest status, share documents - and see when they’ve viewed them) - and request follow-ups for time-critical information.
See full pipeline and activity
With tailored views to your pipeline and full activity on each account in your list, Blend always keeps you apprised of priorities. Automatically flag new activities directly from the pipeline and drill in to complete next steps easily.
Get up and running with Blend in weeks
Blend integrates with legacy system to ensure rapid deployment and reduce the number of systems a lender must work in.
Get up and running
Initial Go Live
Loan Status / Assignments
Conditions / Follow-Ups
What is configurable?
As a technology provider, Blend realizes that each lender has specific and unique technology requirements, as well as strong brand and identity elements that must be preserved in order to maintain customer confidence. To that end, several components of the platform are configurable, including:
Key Configuration Points
Customize the look and feel of the borrower application and all email communications with logo and key colors.
Roles & Permissions
Optimize views, actions and permissions for every member of your team with a full suite of customizable roles.
Configure how and when to collect certain documentation so you have control over when TRID is triggered for the borrower.
Compliance & Security
Airtight security & compliance throughout the application process
As a technology provider to top lenders, Blend’s priority is ensuring airtight digital compliance. That means compliance checks, audit trails, and reporting that support all federal and state regulations comes standard with every deployment.
BSA - KYC and CIP Requirements
TRID / RESPA
Intent to Proceed
Blend ensures compliance with the E-Sign Act by prompting the borrower prior to any action that requires explicit consent, while offering an offline, alternative path to complete the application should they decline.
Through configuration, Blend will allow a lender to delay the request of any of the 6 pieces of information required to trigger TRID / RESPA. Blend additionally prepares a report outlining the deadlines required for disclosing.
Blend provides an audit trail of every user-generated activity (and timestamp) on the Blend platform (e.g. borrower, loan officer, loan processor).This provides a permanent record for audit purposes since loan officers or processors cannot alter or delete any action, answer or explanation provided by the borrower.
- Blend is committed to bank-grade security and undergoes constant quality checks, including the financial industry ISO 27001 security certification, SOC1 Type 2, vulnerability scanning, and continuous custom tests completed by our in-house team of security experts.
- Blend automatically encrypts data at all levels during transfer and storage using AES-128, the same system as the most respected banks in the world.
- Complete governability & auditability of every borrower and lender touch point with the mortgage loan
How does pricing work?
Blend's pricing model is success-based, on a per loan basis. Licenses are not charged by seat, thus aligning interests to number of loans flowing through the system. Since Blend is SaaS with regular updates, total cost of ownership is very low.
Can realtors / others get on Blend?
Blend is currently focused on providing an outstanding experience for borrowers and the back-office tools for lenders to enable a fast, efficient mortgage transaction. The Blend platform is built to eventually accommodate several portals, including realtors, in the near future.
Do my Loan Officers get a mobile view?
The experience your borrowers use to apply is fully responsive and optimized for device screens of any size. Although the lender experience is fully functional on mobile, there is not currently an optimized view for small screen sizes.