JPMorgan Chase, Wells Fargo and now Ally Bank have all outsourced a part of their home lending process to fintech...
Mortgage fintech Blend is on a roll; Blend’s customer base now accounts for more than 25% of the $2.1 trillion...
This week, we look at:
Over $1 billion in raises announced last week, and over $10 billion in Fintech company value creation: Checkout.com with $450 million at a $15 billion valuation, Affirm more than doubling after its IPO to $30 billion, lending enabler Blend raising $300 million, and payments enabler Rapyd raising $300 million.
A systems theory framework that explains the stocks and flows of goods and services, and what monetization strategies are available to fintechs
How transactional models are thriving and creating 50-100x revenue multiples
Timothy Mayopoulos is the most recent example of a high profile executive moving into fintech; Mayopoulos will serve as President...
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[Editor’s note: This is a guest post from Nima Ghamsari, Chief Executive Officer and Co-Founder of Blend, a Silicon Valley...
Blend is on a mission to expand into more banks and credit unions with their new digital account opening product;...
[Editor’s note: This is a guest post from Dmytro Spilka. He is a tech and finance writer based in London....
Beyond Blend more suppliers could be coming soon such as Roostify, BankVOD, LendSnap and Quovo; FinLocker, Plaid and PointServ are also currently running pilots with Fannie Mae; Only Blend, Finicity and FormFree are approved suppliers while there are more than 40 approved vendors; there are 20 approved vendors of income and employment validation reports, but only DataVerify and Equifax are approved suppliers of these reports. Source
Lennar Corp. is the largest homebuilder in the United States; they will leverage technology built by Blend to allow their customers to apply for mortgages online and through mobile devices; this will cut down significantly on the time to apply for a mortgage and Lennar hopes it will also help attract millennial buyers. Source
Blend has signed new bank partnership agreements and announced fundraising of $100 million; the firm will partner with Wells Fargo and US Bancorp, providing its mortgage software to help improve the mortgage application process for the two large banks; concurrently, it has also completed a $100 million fundraising round led by Greylock Partners that will increase its value to approximately $500 million and allow it to potentially expand to other lending markets. Source