Banking News

Blend Launches Revolutionary Automated Instant Home Equity Product

Blend Launches Revolutionary Automated Instant Home Equity Product
New Comprehensive Solution Provides a More Efficient and Personalized Customer Experience to Tap Record $28 Trillion Home Equity Market
Blend, a leading provider of cloud banking software, announced Instant Home Equity, an automated end-to-end digital home equity product for lenders. The comprehensive solution integrates income and identity verification, title, decisioning, property appraisal, and notarization to achieve unprecedented time and cost savings. Lenders using the Blend Instant Home Equity product can present borrowers with a personalized offer that can be instantly approved and then closed in just a few days, versus the multiple weeks it typically takes through legacy home equity processes.

Latest Fintech News: FELABAN and ACAMS Partner to Strengthen Anti-Financial Crime Compliance in Latin America

Blend Instant Home Equity will integrate a number of recent enhancements to the company’s mortgage suite, including Blend Income Verification and Blend’s remote online notarization platform. It builds on previous home equity functionality that had already allowed existing staff to accommodate potentially 33% more volume, leading to savings of five days and $249 per loan.1

“We are thrilled to introduce our revolutionary Instant Home Equity product into the marketplace as we see more people staying in their homes and building wealth,” said Nima Ghamsari, Head of Blend. “Leveraging all that we’ve built on the Blend platform—for both Mortgage and Consumer Banking solutions–we’re able to deliver an instant home equity experience to help our customers ensure a seamless experience for applicants, grow their home equity businesses, and reduce costs to originate in a challenging marketplace.”

Latest Fintech News: iTrustCapital Surpasses $6 Billion in Crypto IRA Transactions, Marking a 200% Increase in the Last 12 Months

Blend Instant Home Equity is the latest innovation to help lenders rapidly adapt their businesses in line with shifting consumer expectations and the broader mortgage market. Despite recent downturns in the mortgage origination market, Americans’ tappable home equity surged in the first quarter of 2022 to an all-time-record $27.8 trillion.2 As inflation and rising costs squeeze American households, home equity loans and home equity lines of credit can be a debt-consolidation option or a cost-effective alternative to credit card debt—which typically has a much higher interest rate and increased last quarter at a rate not seen in over 20 years.3

Latest Fintech News: AM Best Affirms Credit Ratings of Members of Northbridge Financial Corporation

[To share your insights with us, please write to]

Related posts

ACI: APP Scams Emerge as a Payments Fraud Threat with Fraudsters Changing Tactics

Business Wire

Confluence and FundGuard Partner to Streamline Fund Reporting

Business Wire

Kirobo Cryptocurrency “Undo Button” Technology Surpasses $1 Billion in Transactions After Record Month

Fintech News Desk