Blend has announced that Lennar, the Florida-headquartered homebuilder, has selected Blend's technology to power Eagle Home Mortgage, the homebuilder’s financing arm. The California-based mortgage technology provider will help streamline the mortgage application process for Lennar by reducing friction throughout the process at scale.
“As the largest homebuilder in the U.S., Lennar understands how the right technology partner can meaningfully increase access to home loans by reducing origination costs,” Blend said on its blog. “Now that millennials comprise more than one-third of all home buyers according to the National Association of Realtors, it is more important than ever for lenders to provide a transparent and efficient process with a consumer-grade experience. Our work with Lennar is helping them provide this type of higher-quality experience today’s buyers demand.”
Lennar and Blend’s partnership is focused on delivering a frictionless customer experience at scale. “Lenders using Blend already represent over 25 percent of the overall U.S. mortgage market, and our platform saw nearly $60 billion in mortgage applications in 2017 alone,” the blog stated. “We’re not only excited about empowering Lennar customers with a data-driven application experience, but also look forward gathering their insights as we continue to reimagine lending.”
With Lennar’s history of innovation and broad reach in markets across the U.S., this collaborative effort has the opportunity to improve the home purchase process at the industry level.