Lennar announced on April 9 that it’s mortgage subsidiary, Eagle Home Mortgage, has partnered with Blend to launch a digital mortgage platform. Blend is a San Francisco-based technology company that offers digital lending tools to customers like Wells Fargo, U.S. Bancorp and Fannie Mae.
Eagle Digital Mortgage allows users to apply for a mortgage from any device. The platform pulls applicants’ data from bank statements, tax and employment data and other documents to populate the application.
“We are combining the power of technology with an intuitive design to enable borrowers to apply for a mortgage in as little as 10 minutes from any device,” Jimmy Timmons, president of Eagle Home Mortgage, said in a statement. “By empowering customers to provide a more complete loan application up front, we can streamline our entire mortgage application, approval, processing and closing process.”
Lennar noted that an early pilot of the digital platform processed over 700 applications. The platform is available now to users in Colorado.
In February, Housing Wire reported that Fannie Mae approved Blend to asset verification reports on the mortgage purchaser’s Desktop Underwriter risk assessment tool. Last summer, Wells Fargo and U.S. Bancorp signed on to use Blend’s platform to streamline the lending process, according to the Wall Street Journal.
Danielle Andrus was previously the managing editor for Colorado Builder, and is currently Editor for the Journal of Financial Planning.
