Collaboration to enhance borrower experience,
streamline lender workflows, and improve conversion rates
Blend Labs, Inc. (NYSE: BLND), a leading origination platform
for digital banking solutions, today announced a partnership with
PHH Mortgage, a subsidiary of Onity Group Inc. (NYSE: ONIT) and one
of the largest servicers in the country, to bring a new level of
efficiency and simplicity to PHH’s home lending operations.
By automating and eliminating many of the manual steps that
delay approvals and timely closings, the implementation of Blend’s
Mortgage Suite is expected to enhance the borrowers’ application
experience, shorten loan cycle times, and free up loan officer
capacity so they can focus more of their time on advising
borrowers.
“At PHH Mortgage, we’re truly passionate about making the loan
process as seamless and intuitive as possible for our customers
while providing our teams with tools that match today’s consumer
expectations,” said Colin Friday, Senior Vice President of Mortgage
Origination at PHH Mortgage. “By partnering with Blend, we’re
embracing advanced automation and digital capabilities that not
only eliminate inefficiencies but also allow us to focus on what
truly matters—helping our customers achieve their homeownership
dreams.”
PHH Mortgage has chosen Blend for its comprehensive and fully
integrated Mortgage Suite, featuring advanced tools like the Loan
Officer Toolkit, designed to streamline document collection and
enhance file quality. The partnership also includes the
implementation of Blend Close, which enables seamless, digital
closings, empowering PHH Mortgage to deliver a modern and efficient
closing experience—all within a single, cohesive platform.
“Lenders like PHH Mortgage are redefining home lending with
strategies that build stronger connections and long-term
relationships with borrowers,” said Nima Ghamsari, Co-Founder and
Head of Blend. “We’re honored to be a key partner in that journey,
delivering seamless, cost-efficient origination solutions that
drive higher conversion rates and build long-term loyalty.”
According to HMDA data, as of September 30, 2024 20 of the top
50 mortgage originators rely on Blend’s platform, underscoring
Blend’s position as a trusted partner for financial institutions
modernizing their lending operations. To learn more about Blend's
Mortgage Suite, visit blend.com/products/mortgage-suite.
About Blend
Blend Labs, Inc. (NYSE:BLND) is a leading origination platform
for digital banking solutions. Financial providers— from banks,
credit unions to community and independent mortgage banks—use
Blend’s platform to transform banking experiences for their
customers. To learn more, visit blend.com.
About Onity Group
Onity Group Inc. (NYSE: ONIT) is a leading non-bank mortgage
servicer and originator providing solutions through its primary
brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is
one of the largest servicers in the country, focused on delivering
a variety of servicing and lending programs. Liberty is one of the
nation’s largest reverse mortgage lenders dedicated to education
and providing loans that help customers meet their personal and
financial needs. We are headquartered in West Palm Beach, Florida,
with offices and operations in the United States, the U.S. Virgin
Islands, India and the Philippines, and have been serving our
customers since 1988. For additional information, please visit
onitygroup.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, quotations of management, 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
and Onity Group’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 Onity Group 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 and Onity Group do
not undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20241212118485/en/
Press Contacts Chloé Demeunynck Corporate Communications
press@blend.com
Dico Akseraylian SVP, Corporate Communications
mediarelations@onitygroup.com
Onity (NYSE:ONIT)
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Onity (NYSE:ONIT)
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