Blend, a startup that helps lenders make better mortgage lending decisions, announced a native mobile app last week. The San Francisco-based companyâ€™s launch of Blend Mobile aims empower loan officers to manage borrower requests and applications on their mobile device in order toÂ facilitate communication between the two parties.
Founded in 2012, Blend has 30 clients and has raised $60 million. The companyâ€™s lender-facing system offers a digital, paperless mortgage application process. The customizable interface is designed to reduce friction in borrower interactionsÂ andÂ aims to help loan originatorsÂ close up to seven to ten days faster.
With Blendâ€™s new native app, lenders can cater to borrowers by enabling themÂ to completeÂ a mortgage applicationÂ when and where they prefer, with the ability to switch among channels. The app also leverages push notifications and alerts to facilitate communication betweenÂ the two parties. For example,Â the app notifies lenders if they have a period of inactivity greater than 48 hours in order to decrease the time to close.Â The new app is available to all current and new Blend clients.
BlendÂ demoed its data-driven mortgage at FinovateSpring 2016. The company was recently named to CB Insightsâ€™ Fintech 2015 list. Earlier this year, we highlighted Blendâ€™s role in growing the mortgagetech scene and interviewed CEOÂ Nima Ghamsari in a feature on Blend last year.
Blend Launches Native Mobile App