PHH Mortgage Partners with Blend to Revolutionize Home Lending Operations
Blend Labs (NYSE: BLND) has announced a strategic partnership with PHH Mortgage, a subsidiary of Onity Group Inc., to modernize their home lending operations. The collaboration involves implementing Blend's Mortgage Suite, which includes the Loan Officer Toolkit and Blend Close features. The partnership aims to enhance borrower experience, reduce loan cycle times, and improve operational efficiency through automation of manual processes.
PHH Mortgage selected Blend for its comprehensive and integrated solutions that streamline document collection and enable digital closings within a single platform. According to HMDA data, 20 of the top 50 mortgage originators use Blend's platform as of September 30, 2024, highlighting the company's significant market presence.
Blend Labs (NYSE: BLND) ha annunciato una partnership strategica con PHH Mortgage, una sussidiaria di Onity Group Inc., per modernizzare le loro operazioni di prestito abitativo. La collaborazione prevede l'implementazione della Mortgage Suite di Blend, che include il Loan Officer Toolkit e le funzionalità di Blend Close. L'obiettivo della partnership è migliorare l'esperienza dei mutuatari, ridurre i tempi di ciclo dei prestiti e ottimizzare l'efficienza operativa tramite l'automazione dei processi manuali.
PHH Mortgage ha scelto Blend per le sue soluzioni integrate e complete che semplificano la raccolta dei documenti e consentono chiusure digitali all'interno di un'unica piattaforma. Secondo i dati HMDA, 20 dei primi 50 originatori di mutui utilizzano la piattaforma di Blend a partire dal 30 settembre 2024, evidenziando la significativa presenza dell'azienda nel mercato.
Blend Labs (NYSE: BLND) ha anunciado una asociación estratégica con PHH Mortgage, una subsidiaria de Onity Group Inc., para modernizar sus operaciones de préstamos hipotecarios. La colaboración implica la implementación de la Mortgage Suite de Blend, que incluye el Loan Officer Toolkit y las funciones de Blend Close. El objetivo de la asociación es mejorar la experiencia del prestatario, reducir los tiempos del ciclo de préstamos y mejorar la eficiencia operativa mediante la automatización de procesos manuales.
PHH Mortgage eligió a Blend por sus soluciones integrales y completas que agilizan la recolección de documentos y permiten cierres digitales dentro de una única plataforma. Según los datos de HMDA, 20 de los 50 principales originadores de hipotecas utilizan la plataforma de Blend a partir del 30 de septiembre de 2024, destacando la significativa presencia de la empresa en el mercado.
Blend Labs (NYSE: BLND)는 PHH Mortgage와 전략적 파트너십을 발표했습니다. PHH Mortgage는 Onity Group Inc.의 자회사로, 주택 대출 운영 현대화를 위해 협력합니다. 이 협업에는 Blend의 Mortgage Suite를 구현하는 것이 포함되며, 여기에는 Loan Officer Toolkit과 Blend Close 기능이 포함됩니다. 파트너십의 목표는 대출자 경험을 향상시킴, 대출 사이클 시간을 단축함, 그리고 운영 효율성을 개선함으로 수동 프로세스의 자동화를 통해 이루어집니다.
PHH Mortgage는 문서 수집을 간소화하고 단일 플랫폼 내에서 디지털 종료를 가능하게 하는 포괄적이고 통합된 솔루션을 위해 Blend를 선택했습니다. HMDA 데이터에 따르면 2024년 9월 30일 기준으로 상위 50개 모기지 기원자 중 20개가 Blend의 플랫폼을 사용하고 있으며, 이는 회사의 시장 내 중요한 존재감을 강조합니다.
Blend Labs (NYSE: BLND) a annoncé un partenariat stratégique avec PHH Mortgage, une filiale d'Onity Group Inc., pour moderniser leurs opérations de prêt immobilier. La collaboration comprend la mise en œuvre de la Mortgage Suite de Blend, qui inclut le Loan Officer Toolkit et les fonctionnalités de Blend Close. L'objectif de ce partenariat est d'améliorer l'expérience des emprunteurs, de réduire les délais de traitement des prêts et d'améliorer l'efficacité opérationnelle grâce à l'automatisation des processus manuels.
PHH Mortgage a sélectionné Blend pour ses solutions complètes et intégrées qui simplifient la collecte de documents et permettent des clôtures numériques sur une seule plateforme. Selon les données de la HMDA, 20 des 50 principaux originateurs de prêts utilisent la plateforme de Blend à partir du 30 septembre 2024, soulignant la présence significative de l'entreprise sur le marché.
Blend Labs (NYSE: BLND) hat eine strategische Partnerschaft mit PHH Mortgage, einer Tochtergesellschaft der Onity Group Inc., bekannt gegeben, um ihre Wohnungsbaumfinanzierung zu modernisieren. Die Zusammenarbeit umfasst die Implementierung der Mortgage Suite von Blend, die das Loan Officer Toolkit und die Funktionen von Blend Close beinhaltet. Ziel der Partnerschaft ist es, die Erfahrung der Kreditnehmer zu verbessern, die Kreditzykluszeiten zu verkürzen und die betrieblichen Effizienz zu steigern, indem manuelle Prozesse automatisiert werden.
PHH Mortgage wählte Blend wegen seiner umfassenden und integrierten Lösungen, die die Dokumentensammlung vereinfachen und digitale Abschlüsse auf einer einzigen Plattform ermöglichen. Laut HMDA-Daten nutzen 20 der 50 größten Hypothekenanbieter die Plattform von Blend, Stand 30. September 2024, was die bedeutende Marktpräsenz des Unternehmens unterstreicht.
- Partnership with major mortgage servicer PHH expands market presence
- 20 of top 50 mortgage originators currently use Blend's platform
- Integration of comprehensive Mortgage Suite solution demonstrates product adoption
- None.
Insights
Collaboration to enhance borrower experience, streamline lender workflows, and improve conversion rates
By automating and eliminating many of the manual steps that delay approvals and timely closings, the implementation of Blend’s Mortgage Suite is expected to enhance the borrowers’ application experience, shorten loan cycle times, and free up loan officer capacity so they can focus more of their time on advising borrowers.
“At PHH Mortgage, we’re truly passionate about making the loan process as seamless and intuitive as possible for our customers while providing our teams with tools that match today’s consumer expectations,” said Colin Friday, Senior Vice President of Mortgage Origination at PHH Mortgage. “By partnering with Blend, we’re embracing advanced automation and digital capabilities that not only eliminate inefficiencies but also allow us to focus on what truly matters—helping our customers achieve their homeownership dreams.”
PHH Mortgage has chosen Blend for its comprehensive and fully integrated Mortgage Suite, featuring advanced tools like the Loan Officer Toolkit, designed to streamline document collection and enhance file quality. The partnership also includes the implementation of Blend Close, which enables seamless, digital closings, empowering PHH Mortgage to deliver a modern and efficient closing experience—all within a single, cohesive platform.
“Lenders like PHH Mortgage are redefining home lending with strategies that build stronger connections and long-term relationships with borrowers,” said Nima Ghamsari, Co-Founder and Head of Blend. “We’re honored to be a key partner in that journey, delivering seamless, cost-efficient origination solutions that drive higher conversion rates and build long-term loyalty.”
According to HMDA data, as of September 30, 2024 20 of the top 50 mortgage originators rely on Blend’s platform, underscoring Blend’s position as a trusted partner for financial institutions modernizing their lending operations. To learn more about Blend's Mortgage Suite, visit blend.com/products/mortgage-suite.
About Blend
Blend Labs, Inc. (NYSE:BLND) is a leading origination platform for digital banking solutions. Financial providers— from banks, credit unions to community and independent mortgage banks—use Blend’s platform to transform banking experiences for their customers. To learn more, visit blend.com.
About Onity Group
Onity Group Inc. (NYSE: ONIT) is a leading non-bank mortgage servicer and originator providing solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to education and providing loans that help customers meet their personal and financial needs. We are headquartered in
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, quotations of management, 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, as well as assumptions relating to the foregoing. 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. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “would,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other comparable terminology that concern Blend’s and Onity Group’s expectations, strategy, plans or intentions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which such performance or results will be achieved, if at all. Further information on these risks and uncertainties are set forth in our filings with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Blend and Onity Group and assumptions and beliefs as of the date hereof. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. Except as required by law, Blend and Onity Group do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241212118485/en/
Press Contacts
Chloé Demeunynck
Corporate Communications
press@blend.com
Dico Akseraylian
SVP, Corporate Communications
mediarelations@onitygroup.com
Source: Blend
FAQ
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