Atlantic Coast Mortgage Streamlines eClosings with Blend

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Blend (NYSE: BLND) has announced a renewed partnership with Atlantic Coast Mortgage to enhance its end-to-end mortgage process utilizing Blend's cloud banking services. The collaboration focuses on improving customer experience through quicker decision-making and an efficient interface. Borrowers can complete applications in as little as 10 minutes, achieving an impressive 70%+ pull-through conversion rate. In 2022, Blend facilitated nearly $1.3 trillion in loan volume. The partnership aims to implement eClosing technology that benefits both lenders and borrowers, with plans to expand to a full remote online notarization experience in the future.

Blend positions itself as a critical infrastructure provider in banking, powering significant financial transactions daily.

Positive

Renewed partnership with Atlantic Coast Mortgage to enhance mortgage processing.
Borrowers can complete applications in as little as 10 minutes.
Achieved a 70%+ pull-through conversion rate on applications.
In 2022, processed nearly $1.3 trillion in loan volume.

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04/25/2023 - 09:00 AM

SAN FRANCISCO--(BUSINESS WIRE)-- Blend (NYSE: BLND), a leading provider of cloud banking services, announced today that independent mortgage bank Atlantic Coast Mortgage has recommitted to Blend to streamline its end-to-end mortgage process, from application and disclosures to electronic closings via Blend’s hybrid/remote online notarization (RON) products.

“One of the things we look for in a technology solution is the ability to provide the customer with the information they need promptly, and an interface and platform that they’re able to easily interact with,” said Ed Vint, Chief Information Officer at Atlantic Coast Mortgage. “The ability for us to have an easy-to-use technology-focused solution that allows us to decision quicker, and provide the borrower with tools that allow them to upload documents at their convenience, is what we’re trying to achieve.”

Through Blend, mortgage borrowers can complete a mortgage application in as little as 10 minutes, and Blend Mortgage customers have seen, on average, a 70%+ pull-through conversion rate on mortgage applications. In 2022, Blend helped financial services firms process nearly $1.3 trillion in loan volume.

“We are excited to once again work with Atlantic Coast Mortgage in providing their borrowers with a superlative customer experience,” said Gaurav Nagla, Blend’s Head of eClose. “Implementing streamlined eClose technology provides immediate dividends to both borrowers and lenders today but also positions firms for success in the future when mortgage volume rebounds once again.”

Based on the success of hybrid close, Atlantic Coast Mortgage plans to explore offering a full RON eClosing experience.

“Your mortgage platform is your first interaction with the borrower; this is what they’re going to see first–looking at it from that standpoint really opens up your eyes to what improvements and features we look for in a solution,” Vint said.

About Blend

Blend is the infrastructure powering the future of banking. Financial providers—from large banks, fintechs, and credit unions to community and independent mortgage banks—use Blend’s platform to transform banking experiences for their customers. Blend powers billions of dollars in financial transactions every day. To learn more, visit blend.com.

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