How they describe themselves: Mortgages today is a multi-trillion dollar industry that is completely underserved through existing technologies. Both mortgage lenders and borrowers are hurting: costs for originations remain high, borrowers endure an endless back-and-forth collecting, signing, and sending loan documents, and compliance is becoming exponentially more challenging through increasing rules and regulations. Blend is a Silicon Valley product company building technology to power and transform enterprises to meet these challenges of modern mortgage lending.
How they describe their product/innovation: Blend is a Silicon Valley technology company empowering lenders to originate efficient, data-driven mortgages. Using high-fidelity data sources, Blend allows lenders to drive down origination costs and maintain airtight digital compliance while offering borrowers an elegant user experience in weeks. Blend’s technology has been deployed to four top lenders in the U.S. today. The Blend platform helped originate $6B worth of mortgages in Q4 2015 alone.
Product distribution strategy: Direct to Business (B2B)