Blend Labs will power originations, closings for PHH Mortgage

The cloud banking software provider is finishing up the year with a bang, announcing a partnership with a leading loan servicer and recruiting PlanSource veteran Srini Venkatramani as the company’s new head of product. Continue reading

Investors bullish on Blend on Q2 earnings and revenue beat

Cloud banking software provider maintains steady growth in consumer banking revenue, while reversing the decline in its main line of business of providing services to mortgage lenders. Continue reading

The analyst who predicted a 30% fall in commissions has more to say

Veteran KBW analyst Ryan Tomasello will be talking about the “watershed moment” that could lead to consolidation and innovation across the real estate industry at Inman Connect Las Vegas. Continue reading

Blend trims loss, shrugs off decline in mortgage segment revenue

Mortgage tech and cloud banking software provider says it’s debt free and on faster track to profitability, thanks to $150 million cash injection from Haveli Investments. Continue reading

Big Florida real estate brokerage is selling its mortgage division

First Federal Bank continues expansion of its nationwide mortgage lending operations with deal to acquire Watson Mortgage Corp. and investments in digital solutions. Continue reading

Blend Labs laying off 150 more workers on ‘path to profitability’

The mortgage technology, title provider and cloud-based banking platform has eliminated more than 1,000 positions in five rounds of layoffs in the last 16 months. Continue reading

As losses mount, Blend looks beyond mortgage for future growth

The San Francisco-based cloud banking software provider has trimmed the company’s payroll by 1,100 employees and cut annual expenses by $72 million. Continue reading

Blend announces more layoffs as cumulative losses surpass $1B

The mortgage tech and title provider posted a $132.7 million net loss in the third quarter of 2022, with revenue falling 38 percent from a year ago to $55.3 million, according to an earnings call Thursday. Continue reading

PNC Bank partners with Blend to digitize mortgage applications

“Strategic partnership” is a win for mortgage tech and title insurance provider Blend, which has cut its workforce by about 25 percent this year and racked up an accumulated $995 million deficit. Continue reading