Next-generation solutions empower lenders to achieve up to 1.5x higher pull-through rates and accelerate time-to-close by over 50%, significantly enhancing operational efficiency and borrower satisfaction.

Blend Labs, Inc. (NYSE: BLND), a leading origination platform for digital banking solutions, today announced the launch of Rapid Home Lending, a breakthrough suite of software solutions designed to help lenders respond faster to a dynamic housing market.

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Designed for both refinance and home equity lending, Rapid Home Lending from Blend provides lenders with tools to increase retention and deliver significantly faster, more personalized borrower experiences. By eliminating friction through automated, connected workflows, lenders can engage borrowers early, offer tailored solutions upfront, and accelerate loan closings with greater efficiency.

“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. “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.”

Unlocking Home Equity and Refinancing Opportunities in a Competitive Market

In today’s fast-moving housing market, millions of homeowners are locked into high-interest mortgages or sitting on substantial untapped home equity. With the average U.S. homeowner holding $315,000 in tappable equity¹ and 24% of mortgage holders paying interest rates of 5% or higher² according to industry data, lenders face both a challenge and a significant opportunity.

Despite advancements in digital lending technology, many financial institutions struggle to retain borrowers when it comes to refinancing or home equity solutions. The traditional mortgage origination process remains slow, manual, and document-heavy, creating friction that impacts conversion rates, slows down closing timelines, and increases operational costs.

Challenges holding lenders back:

  • Lengthy, complex workflows create friction at every step of the borrower journey.
  • Failure to personalize interactions using available borrower data treats current customer borrowers like first-time applicants.
  • Manual document collection and verification slow loan origination and hinder scalability during high-volume periods.

Home Lending, Reimagined for Today’s Market

Blend’s Rapid Home Lending Solutions empower lenders to boost conversions, accelerate closings, and enhance borrower engagement—all while adapting seamlessly to market conditions. By combining automation, data intelligence, and a modern borrower experience, Blend is transforming the way home loans are originated.

Lender benefits include:

  • Seamless Data Connectivity Eliminates Friction – Deep data connectivity and automation enable lenders to seamlessly verify and pre-fill borrower information in the background, reducing manual input and delays.
  • Personalized Offers Drive Higher Conversions – Intelligent data-driven approach surfaces tailored, pre-qualified products upfront, so borrowers see exactly what’s available to them––right at the start.
  • One Platform for Refinance & Home Equity – Blend’s single, integrated platform seamlessly connects refinance and home equity journeys in one dynamic experience, empowering the borrower to choose the best product for their goals.
  • Faster Closings with Automated Workflows – By automating qualification, disclosure handling, and capturing Intent-To-Proceed, borrowers can move quickly and effortlessly through the entire process, creating a truly rapid experience.

Proven Impact: Faster Closings, Higher Pull-Through, Better Borrower Engagement

Early results from initial Blend customers suggest significant pull-through lift, faster time to close, and enhanced utilization of the home equity lines, including:

  • Up to 1.5x higher pull through rates – Real-time data validation and instant, personalized offers keep borrowers engaged from start to finish.
  • Over 50% Faster Time to Close – The traditional 30-45 day home equity process has been cut down to 5-10 days, enhancing operational efficiency and borrower satisfaction.
  • Better Borrower Engagement – Over 60% of borrowers leveraged in-workflow debt consolidation, maximizing utilization of home equity lines.

For Blend’s Rapid Refi solution, the first refinance types—conventional cash-out and FHA Streamline—are generally available. Additional types, including VA IRRRL and conventional rate/term refinances, are slated for release in the first half of 2025.

To learn how Blend’s Rapid Home Lending Solutions can help you close loans faster, visit Blend.com/Rapid-Home-Lending.

About Blend

Blend Labs Inc., (NYSE: BLND) is a leading origination platform for digital banking solutions. Financial providers— from large banks, fintechs, and credit unions to community and independent mortgage banks—use Blend’s platform to transform banking experiences for their customers. Better banking starts on Blend. To learn more, visit blend.com.

Forward-Looking Disclaimer

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements generally relate to future events, future performance or expectations and involve substantial risks and uncertainties. Forward-looking statements in this press release may include, but are not limited to, our expectations regarding our product roadmap, future products/features, the timing of new product/feature introductions, market size and growth opportunities, macroeconomics and industry conditions, capital expenditures, plans for future operations, competitive position, technological capabilities and strategic relationships, as well as assumptions relating to the foregoing. The forward-looking statements contained in this press release are subject to risks and uncertainties that could cause actual outcomes to differ materially from the outcomes predicted. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “would,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other comparable terminology that concern Blend’s expectations, strategy, plans or intentions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which such performance or results will be achieved, if at all. Further information on these risks and uncertainties are set forth in our filings with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Blend and assumptions and beliefs as of the date hereof. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. Except as required by law, Blend does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

Press Contact Chloé Demeunynck Corporate Communications press@blend.com

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