Eagle Home Mortgage, the financing arm of homebuilder Lennar, is now using Blend‘s technology to digitally streamline the home purchase process.
“Now that Millennials comprise more than one third of all home buyers, according to the National Association of Realtors, it is more important than ever for lenders to provide a transparent and efficient process with a consumer-grade experience,” Blend says in a release. “Our work with Lennar is helping them provide this type of higher-quality experience.
“What’s more, taking friction out of the system by leveraging verified source data, and cutting down on time and resources spent on the traditionally onerous process behind mortgages, will allow more consumers to participate, and free up resources for home builders to focus elsewhere,” the software firms says.
Blend’s digital mortgage platform saw nearly $60 billion in mortgage applications via its lender partners in 2017. Using this platform, Lennar will be able to close deals up to 10 days faster by cutting out unnecessary manual processes, the firm claims.
This reduction in manual processes, in turn, will help free-up Lennar “to focus on entry-level homes, something much needed in a housing market that is in the midst of an affordability crisis and has seen slowing home sales and rising interest rates.”