Polly Integrates with Blend to Further Streamline the Loan Origination Process

Rhea-AI Summary

Polly announced an integration partnership with Blend to enhance the digital loan origination process for financial institutions. The collaboration integrates Polly's Pricing Engine with Blend's Point of Sale (POS), allowing Loan Officers to efficiently collect necessary data for determining mortgage pricing and terms. This digital solution reduces manual workflows by nearly 80%, streamlining the loan qualification process. Both companies aim to provide cost-effective, speedier services to mortgage bankers and consumers, optimizing performance and reducing expenses in a traditionally manual industry.

Positive

• Integration with Blend streamlines loan origination, enhancing efficiency.
• Digital solution reduces manual workflows by nearly 80%.
• Partnership aims to lower costs and accelerate mortgage processes.

Negative

• None.

SAN FRANCISCO, Oct. 27, 2021 /PRNewswire/ -- Polly™, a leading provider of innovative SaaS solutions for the mortgage industry, today announced an integration partnership with Blend, a leader in cloud banking and mortgage software, that helps provide financial institutions with a completely digital loan process. 

The integration pairs Polly's Pricing Engine with the Blend POS, via API. Together, they enable Loan Officers to swiftly and efficiently capture necessary financial data to determine mortgage pricing and terms.

Prior to using Blend's platform, mortgage lenders were forced to collect and verify loan application data through manual processes. As Blend looks to support consumers even further into the application process, having digital solutions like Polly available will allow loan teams to process loans even faster by replacing cumbersome and manual processes to determine loan pricing and product eligibility with a digital solution. Pairing Blend's platform with Polly's Pricing Engine enables the entire information collection and loan qualification process to be completed digitally with tremendous speed and accuracy.

"Our software shaves nearly 80 percent of manual lock desk workflows for a typical mortgage originator," said Polly Founder and CEO Adam Carmel. "Our integration partnership with Blend, which also creates massive efficiencies for its customer base, will allow our joint customers to experience an incredibly seamless and automated loan funding process."

"The integration of Polly and Blend creates a complementary solution benefiting mortgage bankers and consumers alike." said Jeff Braddock, Head of Business Development at Blend. "Although Blend and Polly focus on solving different pain points and processes in the industry, we share a vision for the future of banking and focus on building robust technology for our customers."

Each year, the mortgage industry spends millions of dollars on largely repeatable and automatable mortgage capital markets tasks that have remained unchanged for decades. Software tools like those created by Polly and Blend are quick, efficient and accurate because they rely on modern technology that is easily deployable for customers. As a result, their use reduces lenders' costs while accelerating workflows and creating savings for borrowers. 

About Polly
Polly, founded in 2019 by a seasoned team of mortgage and technology experts, is a fast-growing mortgage technology company transforming the mortgage capital markets industry. Polly provides a revolutionary, end-to-end capital markets ecosystem that lenders trust to optimize performance from rate lock to loan sale and delivery. Polly increases gain on sale execution, automates workflows and provides actionable data analytics for its customers. Polly is based in San Francisco, California. To learn more, visit www.polly.io.

Media Contact: Jeff Krischer at jeff@polly.io 

About Blend
Blend's (NYSE: BLND) cloud banking platform is designed to power the end-to-end consumer journey for any banking product, from application to close. Blend's technology is used by Wells Fargo, U.S. Bank, and over 310 other financial services firms to acquire more customers, increase productivity, and deepen relationships. Through its software, Blend enables its 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.

Media Contact: press@blend.com

View original content:https://www.prnewswire.com/news-releases/polly-integrates-with-blend-to-further-streamline-the-loan-origination-process-301409898.html

SOURCE Polly

FAQ

What is the integration between Polly and Blend?

Polly's Pricing Engine integrates with Blend's POS to streamline the loan origination process.

When was the partnership between Polly and Blend announced?

The partnership was announced on October 27, 2021.

What benefits does the integration provide for loan officers?

The integration allows loan officers to efficiently capture financial data and reduces the need for manual processes.

How much does the integration reduce manual workflows?

The integration reportedly reduces manual workflows by nearly 80%.

What is the goal of the partnership between Polly and Blend?

The partnership aims to optimize performance, reduce costs, and accelerate workflows in the mortgage industry.