Blend Labs announced on February 12 that it has broadened its Verification of Income and Verification of Assets offerings by adding a new manual solution called Smart Outreach, powered by Truework, and a new set of Supplemental Asset Reports.
Smart Outreach automates non‑instant verifications, eliminating the need for loan officers to call or email employers and freeing up hours of productivity each week for mortgage operations. 55% of verification of income and employment reports are now completed within 24 hours, and 87% are finished within 72 hours, underscoring the speed gains the feature delivers.
The Supplemental Asset Reports allow lenders to satisfy the 10‑day Pre‑Closing Verification of Employment guideline without manual documentation, using electronic data to streamline the process and improve confidence in clear‑to‑close and closing dates.
Blend’s expansion of verification capabilities is part of a broader strategy to accelerate its mortgage origination platform, reduce friction for lenders, and increase the speed and accuracy of borrower verification. By automating these critical steps, Blend aims to boost transaction throughput, enhance the borrower experience, and support its transition to a high‑margin SaaS model.
The announcement comes amid a broader focus on consumer banking and AI‑driven origination. Blend’s mortgage market share fell from 21.7% to 18.6% in 2024, and the company has reported revenue declines in its mortgage segment with a forecasted revenue slump for the coming year. The new features are expected to strengthen Blend’s competitive moat and support continued growth in its core mortgage suite, while the company continues to invest in further automation and AI integration across its platform.
Nima Ghamsari, co‑founder and Head of Blend, described the new features as a “game‑changing” improvement that will accelerate Blend customers’ pace of innovation in mortgage lending.
The enhancements are available immediately to all existing Blend customers at no additional cost, and the company will continue to invest in further automation and AI integration across its platform.
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