Blend Labs Inc. (NYSE: BLND), a San Francisco-headquartered origination platform for digital banking solutions, has rolled out Rapid Home Lending, a software solutions suite for refinance and home equity lending.
According to the company, Rapid Home Lending Solutions is designed to boost conversions, accelerate closings, and enhance borrower engagement. The single integrated platform connects refinance and home equity lending, while faster closings are achieved through automated workflows.
Blend Labs said that early results of the product’s testing reduced the traditional 30-45 day home equity process to 5-10 days, with over 60% of borrowers utilizing in-workflow debt consolidation. The company added that the first refinance types available will include conventional cash-out and FHA Streamline, with VA IRRRL and conventional rate/term refinances planned for release in the first half of this year.
“The lending landscape has fundamentally changed – market cycles move fast, and success depends on agility and digital solutions that adapt in real time,” said Srini Venkatramani, head of product, technology and customer operations at Blend Labs. “We’re redefining refinance and home equity by flipping the traditional application process on its head. Instead of making borrowers fill out lengthy forms, we push pre-qualified offers and pre-filled applications to them upfront – eliminating friction and delivering the seamless, personalized experience today’s borrowers expect.”
