The integration provides lenders with robust functionality to support automation and margin-management activities, as well as to receive accurate quotes to more effectively price loans, resulting in an improved home-buyer experience.
“We’re excited to add CompassPPE and Ernst Fee Service to our platform to offer lenders even more choices as they help consumers access the capital they need,” says Brian Martin, head of business development at Blend. “With the addition of these solutions, Blend customers can use tailored options to manage their business and maximize efficiency, while giving borrowers greater accuracy and more peace of mind in their financial decisions.”
CompassPPE helps reduce manual touchpoints and cost-per-loan through its automated locks, relocks, extensions, float downs, concessions workflow and exception-based processing. The integration with Blend’s platform supports specific margin management capabilities to help lenders determine compensation on a loan, while also providing configurable fields that support data elements specific to each lender’s business needs. CompassPPE functionality means lenders can more granularly manage margins to help drive business at the regional, branch or loan officer-level and improve profit and loss results.
Black Knight’s Ernst Fee Service is used by lenders to minimize costly fee cures by working to provide accurate recording fees; transfer taxes; and property tax, title, settlement and inspection data. The solution provides all relevant third-party vendor fees that are required on the loan estimate. Loan officers using Blend’s cloud-based platform will receive real-time access to fee estimates to determine the optimal loan for the home buyer.