Cloud banking services provider Blend announced that independent mortgage bank Atlantic Coast Mortgage has recommitted to Blend to streamline its end-to-end mortgage process, from application and disclosures to eClosings, via Blend’s hybrid/remote online notarization (RON) products.
“One of the things we look for in a technology solution is the ability to provide the customer with the information they need promptly, and an interface and platform that they’re able to easily interact with,” Ed Vint, chief information officer at Atlantic Coast Mortgage, said in a release. “The ability for us to have an easy-to-use technology-focused solution that allows us to decision quicker and provide the borrower with tools that allow them to upload documents at their convenience, is what we’re trying to achieve.”
Company leaders said through Blend, mortgage borrowers can complete a mortgage application in as little as 10 minutes, and Blend Mortgage customers have seen, on average, a more than 70 percent pull-through conversion rate on mortgage applications.
In 2022, Blend said, it helped financial services firms process nearly $1.3 trillion in loan volume.
“We are excited to once again work with Atlantic Coast Mortgage in providing their borrowers with a superlative customer experience,” Gaurav Nagla, Blend’s head of eClose, said. “Implementing streamlined eClose technology provides immediate dividends to both borrowers and lenders today but also positions firms for success in the future when mortgage volume rebounds once again.”
Based on the success of hybrid closings, Atlantic Coast Mortgage plans to explore offering a full RON eClosing experience.
“Your mortgage platform is your first interaction with the borrower; this is what they’re going to see first, looking at it from that standpoint really opens up your eyes to what improvements and features we look for in a solution,” Vint said.