Blend and Truework Partner to Expand Income and Employment Verification Solutions Across Home Lending and Consumer Banking
Blend Labs (BLND) and Truework have announced a strategic partnership to integrate income and employment verification solutions across home lending and consumer banking platforms. The collaboration aims to streamline lending processes by embedding Truework's verification service directly into Blend's borrower and loan officer experience.
The integrated solution provides comprehensive verification capabilities with 75% completion rate, enabling faster borrower approvals and broader income and employment coverage. The system automatically pulls income and employment data from multiple sources based on borrower inputs, populating the application with fully vetted income reports.
Blend customers can submit income and employment reports to Freddie Mac's Loan Product Advisor® (LPA®) and Fannie Mae's Desktop Underwriter (DU) for representation and warranty relief assessment. The partnership addresses market challenges by reducing costs and improving operational efficiency across mortgages, deposits, and consumer loans.
Blend Labs (BLND) e Truework hanno annunciato una partnership strategica per integrare soluzioni di verifica del reddito e dell'occupazione nelle piattaforme di prestiti per la casa e di banking al consumo. La collaborazione mira a semplificare i processi di prestito integrando il servizio di verifica di Truework direttamente nell'esperienza dei mutuatari e degli ufficiali di prestito di Blend.
La soluzione integrata offre capacità di verifica complete con un tasso di completamento del 75%, consentendo approvazioni più rapide per i mutuatari e una copertura più ampia del reddito e dell'occupazione. Il sistema estrae automaticamente dati sul reddito e sull'occupazione da più fonti in base alle informazioni fornite dai mutuatari, popolando la domanda con report sul reddito completamente verificati.
I clienti di Blend possono presentare report sul reddito e sull'occupazione a Freddie Mac's Loan Product Advisor® (LPA®) e Fannie Mae's Desktop Underwriter (DU) per la valutazione del sollievo da rappresentanza e garanzia. La partnership affronta le sfide del mercato riducendo i costi e migliorando l'efficienza operativa in ambito mutui, depositi e prestiti al consumo.
Blend Labs (BLND) y Truework han anunciado una asociación estratégica para integrar soluciones de verificación de ingresos y empleo en las plataformas de préstamos hipotecarios y banca de consumo. La colaboración tiene como objetivo agilizar los procesos de préstamo al incrustar el servicio de verificación de Truework directamente en la experiencia de los prestatarios y los oficiales de préstamos de Blend.
La solución integrada proporciona capacidades de verificación completas con una tasa de finalización del 75%, lo que permite aprobaciones más rápidas para los prestatarios y una cobertura más amplia de ingresos y empleo. El sistema extrae automáticamente datos de ingresos y empleo de múltiples fuentes según la información proporcionada por los prestatarios, completando la solicitud con informes de ingresos completamente verificados.
Los clientes de Blend pueden enviar informes de ingresos y empleo a Freddie Mac's Loan Product Advisor® (LPA®) y Fannie Mae's Desktop Underwriter (DU) para la evaluación de alivio de representación y garantía. La asociación aborda los desafíos del mercado al reducir costos y mejorar la eficiencia operativa en hipotecas, depósitos y préstamos al consumo.
Blend Labs (BLND)와 Truework는 주택 대출 및 소비자 은행 플랫폼 전반에 걸쳐 소득 및 고용 확인 솔루션을 통합하기 위한 전략적 파트너십을 발표했습니다. 이번 협력은 Truework의 확인 서비스를 Blend의 대출자 및 대출 담당자 경험에 직접 통합하여 대출 프로세스를 간소화하는 것을 목표로 합니다.
통합 솔루션은 75%의 완료율을 제공하여 더 빠른 대출자 승인과 더 넓은 소득 및 고용 범위를 가능하게 합니다. 이 시스템은 대출자의 입력을 기반으로 여러 출처에서 소득 및 고용 데이터를 자동으로 가져와 완전히 검증된 소득 보고서로 신청서를 채웁니다.
Blend 고객은 Freddie Mac의 Loan Product Advisor® (LPA®) 및 Fannie Mae의 Desktop Underwriter (DU)에 소득 및 고용 보고서를 제출하여 보증 및 대표성 완화 평가를 받을 수 있습니다. 이 파트너십은 주택 담보 대출, 예금 및 소비자 대출 전반에 걸쳐 비용을 줄이고 운영 효율성을 개선하여 시장의 도전 과제를 해결합니다.
Blend Labs (BLND) et Truework ont annoncé un partenariat stratégique pour intégrer des solutions de vérification des revenus et de l'emploi dans les plateformes de prêt immobilier et de banque de consommation. Cette collaboration vise à rationaliser les processus de prêt en intégrant le service de vérification de Truework directement dans l'expérience des emprunteurs et des conseillers en prêts de Blend.
La solution intégrée offre des capacités de vérification complètes avec un taux de complétion de 75%, permettant des approbations plus rapides des emprunteurs et une couverture plus large des revenus et de l'emploi. Le système extrait automatiquement les données de revenus et d'emploi de plusieurs sources en fonction des informations fournies par les emprunteurs, remplissant la demande avec des rapports de revenus entièrement vérifiés.
Les clients de Blend peuvent soumettre des rapports de revenus et d'emploi à Freddie Mac's Loan Product Advisor® (LPA®) et Fannie Mae's Desktop Underwriter (DU) pour l'évaluation de l'allègement de représentation et de garantie. Le partenariat répond aux défis du marché en réduisant les coûts et en améliorant l'efficacité opérationnelle dans les domaines des prêts hypothécaires, des dépôts et des prêts à la consommation.
Blend Labs (BLND) und Truework haben eine strategische Partnerschaft angekündigt, um Lösungen zur Überprüfung von Einkommen und Beschäftigung in die Plattformen für Wohnungsbaufinanzierung und Konsumentenkredite zu integrieren. Die Zusammenarbeit zielt darauf ab, die Kreditvergabeprozesse zu optimieren, indem der Überprüfungsdienst von Truework direkt in die Erfahrung der Kreditnehmer und Kreditvermittler von Blend eingebettet wird.
Die integrierte Lösung bietet umfassende Überprüfungsfähigkeiten mit einer Abschlussquote von 75%, die schnellere Genehmigungen für Kreditnehmer und eine breitere Abdeckung von Einkommen und Beschäftigung ermöglicht. Das System zieht automatisch Einkommens- und Beschäftigungsdaten aus mehreren Quellen basierend auf den Eingaben der Kreditnehmer und füllt die Bewerbung mit vollständig geprüften Einkommensberichten aus.
Blend-Kunden können Einkommens- und Beschäftigungsberichte an Freddie Macs Loan Product Advisor® (LPA®) und Fannie Maes Desktop Underwriter (DU) zur Bewertung der Entlastung von Vertretung und Garantie einreichen. Die Partnerschaft geht auf die Herausforderungen des Marktes ein, indem sie die Kosten senkt und die betriebliche Effizienz bei Hypotheken, Einlagen und Konsumkrediten verbessert.
- Integration streamlines lending operations and reduces costs
- 75% completion rate for verifications
- Automated data collection from multiple sources
- Direct integration with Freddie Mac and Fannie Mae systems
- None.
Insights
Blend's strategic partnership with Truework represents a significant enhancement to its digital banking platform at a critical juncture for the mortgage technology sector. By integrating Truework's verification of income and employment (VOIE) capabilities directly into its ecosystem, Blend addresses one of the most friction-laden aspects of the lending process.
The partnership offers substantial operational benefits for Blend's financial institution clients. Truework's 75% completion rate for verifications significantly outperforms industry averages (typically 50-60%), potentially reducing per-loan processing costs by hundreds of dollars through elimination of manual verification processes. For a mid-sized lender processing 5,000 loans annually, this could translate to
This integration aligns with Blend's strategic imperative to enhance its competitive position against larger players like ICE Mortgage Technology (Encompass) and Black Knight. With mortgage origination volumes remaining challenged in the current high-rate environment, Blend needs to demonstrate value-add capabilities that help lenders operate efficiently and profitably.
The timing is particularly strategic as:
- Lenders are prioritizing cost-cutting initiatives amid compressed margins
- Regulatory pressure for accurate verifications continues to increase
- The industry is moving toward more automated underwriting decisions
For Blend investors, this partnership could accelerate the company's path to profitability by enhancing platform stickiness, potentially improving retention rates, and creating opportunities for increased revenue per customer. However, execution will be critical, as integration challenges could delay realization of benefits.
This move also strengthens Blend's ecosystem strategy, making its platform more valuable to financial institutions seeking to consolidate vendors and streamline operations – a key consideration as banks evaluate technology spending in a challenging economic environment.
This Blend-Truework partnership represents a strategic technological advancement that addresses one of mortgage lending's most persistent inefficiencies. By embedding Truework's verification capabilities directly into Blend's platform, the integration attacks a process that typically adds 5-7 days to loan cycles and costs lenders
The technological architecture of this integration is particularly noteworthy. Rather than a simple API connection, Blend appears to be deeply embedding Truework's verification engine within its native workflow, creating a seamless experience that maintains context and data integrity throughout the origination process. This approach differs significantly from competitors' more fragmented integrations.
For Blend, this partnership addresses a critical strategic need. As a company still working toward profitability (with
The timing aligns with three significant industry trends:
- The rise of automated underwriting systems requiring verified data inputs
- Increasing regulatory scrutiny on verification processes
- Lender focus on operational efficiency amid margin compression
Technically, Truework's
Implementation complexity remains the primary risk factor. Full realization of benefits typically requires 3-6 months of workflow optimization and staff training. Additionally, data security considerations around this integration will necessitate careful compliance protocols, especially regarding information sharing between platforms.
Delivering speed and scale to transform banking
Through this collaboration, lenders gain a comprehensive, fully integrated verification solution that enables faster borrower approvals and significantly broader income and employment coverage.
This partnership comes at a crucial time for lenders looking to navigate market uncertainty with smarter, more efficient origination solutions that reduce costs and streamline operations. The challenge remains that fragmented systems and disconnected workflows slow down processes and create friction for both lenders and borrowers. Blend and Truework’s integrated solution streamlines the lending experience while providing broad coverage across borrower and income types—accelerating approvals and improving efficiency across mortgages, deposits, and consumer loans.
Designed to enhance lender efficiency and elevate the borrower experience, Blend’s platform leverages automation, data connectivity, and best-in-class technology partners to simplify consumer banking and home lending origination for hundreds of financial institutions. By directly integrating with partners like Truework, Blend is able to empower lenders to grow, adapt, and optimize their operations without additional complexity, making it easier to scale while maintaining efficiency and a great borrower experience.
Truework is recognized for its ability to consolidate all major verification methods into one centralized VOIE platform. Organizations no longer need to distribute their verification efforts across multiple vendors, which historically leads to duplicative efforts, increased costs, and incomplete verifications. Truework optimizes every verification method to provide accurate and usable reports, with an industry-leading
With this partnership, Truework’s verification service is embedded directly within Blend’s borrower and loan officer experience. Based on a few borrower inputs, income and employment data is automatically pulled from multiple data sources and populated back to the application. Fully vetted and complete income reports are provided, removing extraneous or duplicative efforts that historically weigh down internal teams. Additionally, Blend customers maintain the ability to submit income and employment reports to Freddie Mac's Loan Product Advisor® (LPA®) and Fannie Mae's Desktop Underwriter (DU) to assess eligibility for representation and warranty relief.
"We share a vision with Blend in wanting to make the mortgage journey as smooth as possible for both lenders and applicants. I believe this partnership makes that possible,” said Ryan Sandler, CEO and co-founder of Truework. “We look forward to providing Blend customers with an intelligent verification experience that prioritizes speed, coverage, and transparency."
“Building a best-in-class lending experience means bringing together the right technology partners to streamline every step of the process,” said Nima Ghamsari, co-founder and head of Blend. “Partnering with Truework strengthens this commitment by delivering more seamless and comprehensive verifications, helping lenders drive efficiency and provide faster, more reliable approvals for their customers.”
About Truework
Truework is the leading platform that solves income and employment verification pain points for mortgage lenders. Powered by automation and machine learning, Truework removes the complexities of managing multiple verification vendors in-house by replacing traditional and manual efforts and delivering comprehensive, vetted, and accurate verification reports. With Truework’s industry-leading
About Blend
Blend Labs Inc., (NYSE: BLND) is a leading origination platform for digital banking solutions. 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. Better banking starts on Blend. To learn more, visit blend.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250226753054/en/
Press Contact
Chloé Demeunynck
Corporate Communications
press@blend.com
Aimee Grove for Truework
aimee@smittencomm.com
415.706.1906
Source: Blend
FAQ
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