Blend, a cloud banking software provider, has debuted Instant Home Equity, an automated end-to-end digital home equity product for lenders. The comprehensive solution integrates income and identity verification, title, decisioning, property appraisal, and notarization.
Lenders using the Blend Instant Home Equity product can present borrowers with a personalized offer that can be instantly approved and then closed in just a few days, versus the multiple weeks it typically takes through legacy home equity processes.
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.
“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,” says Nima Ghamsari, head of Blend. “Leveraging all that we’ve built on the Blend platform – for both mortgage and consumer banking solutions – we’re able to deliver an instant home equity experience to help our customers ensure a seamless experience for applicants, grow their home equity businesses and reduce costs to originate in a challenging marketplace.”