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Blend and PRMG Expand Relationship Beyond Mortgage Origination to Include Closing, Title, Income Verification, and Homeowners Insurance
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Rhea-AI Summary
Blend (NYSE: BLND) has expanded its partnership with Paramount Residential Mortgage Group (PRMG) to enhance the homeownership journey, including mortgage origination and closing. Utilizing Blend’s advanced technology like the Encompass integration and LO Toolkit, PRMG aims to digitize mortgage processes and improve efficiency. PRMG has seen increased loan funding through Blend, with expectations for continued growth. Blend’s tools allow loan officers to streamline repetitive tasks, enabling more personalized customer interactions.
Positive
Expanded partnership with PRMG enhances the homeownership process.
Increased loan funding by PRMG through Blend's platform.
Blend's technology is recognized as superior in the mortgage space.
Negative
None.
SAN FRANCISCO--(BUSINESS WIRE)--
Blend (NYSE: BLND), a leader in cloud banking software, today announced its expanded relationship with Paramount Residential Mortgage Group, Inc. (PRMG), a privately held mortgage banker and residential home lender, to bring seamless, efficient experiences to more pieces of the homeownership journey, including mortgage origination, closing, title, income verification, and homeowners insurance. In addition, PRMG is taking advantage of Blend’s next-generation Encompass integration, LO Toolkit (a one-stop shop for loan officers), and real estate agent mobile application, underscoring their commitment to digitizing the end-to-end mortgage process and supporting loan officers with the best technology.
“PRMG is in its second full year of partnership with Blend. We have watched them become the world-class leader not only as a point-of-sale, but for the entire end-to-end borrower experience,” said Kevin Peranio, chief lending officer at PRMG. “A good chunk of our retail division is already funding loans on Blend and we expect utilization to continue to increase quickly. Between the approval of Blend Income and Asset Verifications by both Fannie and Freddie, and Blend’s status as a Day One Certainty-accepted vendor, we are confident that this extended partnership with Blend will take PRMG’s efficiency in underwriting to a whole new level. There’s simply no better platform in this space than Blend.”
By increasing efficiency for loan officers, processors, and closing teams, Blend leaves more time for PRMG’s loan teams to work one-on-one with customers. With Blend, loan officers can offload repetitive tasks, streamline the application and approval process, and deliver exceptional experiences for consumers.
“PRMG is always challenging industry standards and raising the bar on what it means to be a leader in the lending industry,” said Nima Ghamsari, co-founder and head of Blend. “We are excited to provide them with technology to power their mortgage offering and look forward to supporting additional needs throughout the homeownership journey, so PRMG can continue to meet rising consumer expectations for simplicity and personalized experiences.”
For more information on how Blend partners with financial services firms, please visit blend.com.
About PRMG
Since 2001, Paramount Residential Mortgage Group Inc. (PRMG) continues to be a Top 20 Leading Lender in the mortgage industry. As a privately held mortgage banker and residential home lender, PRMG has successfully helped many borrowers purchase and refinance their homes throughout the United States. For over two decades, PRMG has been serving the mortgage industry and the home buying community. ‘Built by Originators for OriginatorsTM’, PRMG believes it is their duty to educate, train and support loan originators and the borrowers they serve especially in a time of uncertainty and an ever changing marketplace. Our goal is to provide customers with a 'Path to Pivot' to more consumer facing activities and modern lending technology. Today, PRMG employs over 3,000 employees and has over 230 branches throughout the United States.
About Blend
Blend’s cloud banking platform is designed to power the end-to-end consumer journey for any banking product, from application to close. Our technology is used by Wells Fargo, U.S. Bank, and over 330 other financial services firms to acquire more customers, increase productivity, and deepen relationships. Through our software, we enable our customers to process an average of more than $5 billion in loans per day, helping consumers get into homes and gain access to the capital they need to lead better lives. To learn more, visit blend.com.
