Digital banking origination platform Blend has partnered with Truework to embed income and employment verification directly into its consumer banking and home lending offerings.
This will offer lenders a holistic solution for faster borrower approvals and broader income and employment coverage.
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The partnership is claimed to provide “smarter” origination solutions that can help bring down costs and streamline operations.
It addresses the challenge of fragmented systems and disconnected workflows, which can slow down processes and create friction for both lenders and borrowers.
Blend uses automation, data connectivity, as well as taps partnerships with top technology providers to simplify the origination process for financial institutions.
The integration with Truework will enable lenders to grow and optimise their operations, maintaining efficiency and a positive borrower experience without adding complexity, stated Blend.
Truework has expertise in consolidating verification methods into a single, centralised platform, eliminating the need for multiple vendors and reducing costs and incomplete verifications.
Truework CEO and co-founder Ryan Sandle said: “We share a vision with Blend in wanting to make the mortgage journey as smooth as possible for both lenders and applicants. I believe this partnership makes that possible.
“We look forward to providing Blend customers with an intelligent verification experience that prioritises speed, coverage, and transparency.”
With the new partnership, Truework’s verification service will be embedded within Blend’s borrower and loan officer experience.
Borrowers can input their information, and data is automatically pulled from multiple sources, populating back to the application with fully vetted income reports. This integration removes unnecessary steps that have historically burdened internal teams.
Additionally, Blend customers can submit reports to Freddie Mac’s Loan Product Advisor and Fannie Mae’s Desktop Underwriter to assess eligibility for representation and warranty relief.
Blend co-founder and head Nima Ghamsari said: “Building a best-in-class lending experience means bringing together the right technology partners to streamline every step of the process.
“Partnering with Truework strengthens this commitment by delivering more seamless and comprehensive verifications, helping lenders drive efficiency and provide faster, more reliable approvals for their customers.”
Recently, Blend also joined the Jack Henry Vendor Integration Programme (VIP), enabling streamlined integration of its digital account opening solutions with Jack Henry’s SilverLake System for banks and Symitar for credit unions.
