Blend , a California-based technology company created to drive the consumer lending industry into the digital age, recently announced it’s the first end-to-end platform will be approved to provide asset verification reports for the Desktop Underwriter (DU) validation service, a component of Day 1 Certainty by Fannie Mae .
Fannie Mae's DU validation service is designed to provide customers with enhanced loan origination controls, improved processes, and certainty around the borrower's assets, income, and employment information, in addition to relief from representations and warranties on validated loan components.
Brian Martin, leader of Blend’s Business Development team said the company’s relationship with Fannie Mae allows Blend to offer lenders seamless integration with Day 1 Certainty right out of the box—there are no additional borrower or lender actions required to realize the benefits.
"Everyone involved will benefit from reduced paperwork, significantly lower risk, and an accelerated mortgage process,” Martin said. “Our work with Fannie Mae will continue to target a more frictionless process that better serves borrowers.”
The streamlined account connectivity in Blend's consumer lending process means lenders, who already see up to 70 percent of their borrowers connecting directly to source data, now have their loans with validated components automatically eligible for Day 1 Certainty.
"We're excited to have a full solution in Blend with Day 1 Certainty embedded available for all our borrowers," said SWBC Mortgage CEO Susan Stewart. "Blend and Fannie Mae have been incredible partners on our journey to transform the mortgage process, and we look forward to taking this next big step toward a truly digital mortgage together.”