Blend Labs Expands Partnership with PHH Mortgage for Faster Refinance, Home Equity
Blend Labs Inc. (NYSE:BLND) is one of the best small cap tech stocks with biggest upside potential. On June 16, PHH Mortgage announced an expanded partnership with Blend Labs. The collaboration aims to deliver faster and more seamless refinance and home equity experiences for borrowers by using Blend’s technology platform. PHH Mortgage is extending its use of Blend’s technology, which already powers its mortgage lending operations, to now include Blend’s Rapid Refi and Rapid Home Equity solutions.
The move is part of PHH’s ongoing digital transformation to meet evolving borrower expectations and deepen relationships throughout the homeownership journey. The Senior Vice President of Consumer Lending at PHH Mortgage, Colin Friday, highlighted that today, with fluctuating interest rates, many homeowners are seeking ways to improve their financial position through refinancing or utilizing home equity. Blend’s Rapid Home Lending suite enables PHH to provide a fast and intuitive experience.
A close-up of a person's hand signing a mortgage document.
The Rapid suite of solutions is built on Blend’s digital banking platform and will help PHH streamline operations and prepare for future lending demand. The partnership will enable PHH to increase automation by using deep data connectivity to pre-fill borrower information and eliminate manual steps. It will also improve ease of use for borrowers by presenting personalized, pre-qualified offers upfront, ensuring customers clearly understand their options.
Blend Labs Inc. (NYSE:BLND) provides a cloud-based software platform for financial services firms in the US. It operates in two segments: Blend Platform and Title. PHH Mortgage is a major US mortgage servicer and a subsidiary of Onity Group Inc. (NYSE:ONIT).
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Disclosure: None. This article is originally published at Insider Monkey.
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