Blend Launches Revolutionary Automated Instant Home Equity Product
Blend announced the launch of Instant Home Equity, a digital home equity product for lenders aimed at tapping into the record
- Launch of Instant Home Equity taps into the
$28 trillion home equity market. - Automated process reduces approval and closing time from weeks to days.
- Enhancements to mortgage suite could lead to increased transaction volume and cost savings.
- Addresses growing consumer expectations in the home equity loan market.
- None.
New Comprehensive Solution Provides a More Efficient and Personalized Customer Experience to Tap Record
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
“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
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
For more information on Instant Home Equity, please visit https://blend.com/products/consumer-banking-suite/home-equity/
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.
Forward Looking Disclaimer
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements generally relate to future events, future performance or expectations and involve substantial risks and uncertainties. Forward-looking statements in this press release may include, but are not limited to, our expectations regarding our product roadmap, future products/features, the timing of new product/feature introductions, market size and growth opportunities, macroeconomics and industry conditions, capital expenditures, plans for future operations, competitive position, technological capabilities and strategic relationships. The forward-looking statements contained in this press release are subject to risks and uncertainties that could cause actual outcomes to differ materially from the outcomes predicted. Further information on these risks and uncertainties are set forth in our filings with the
1 According to a Blend-commissioned study by
2 https://fred.stlouisfed.org/series/OEHRENWBSHNO
3 https://www.newyorkfed.org/newsevents/news/research/2022/20220802
View source version on businesswire.com: https://www.businesswire.com/news/home/20220825005189/en/
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Source: Blend
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