Doma claims Upfront Title can saves borrowers 40% to 70% on title insurance and that in a trial run with Mr. Cooper the solution cut loan cycles by 3 days and saved borrowers hundreds of dollars
Colorado-based Covius will continue to provide integrated title and closing services to Blend's customers, and Title365 President Kirby Hulbert will join Covius' settlement services team
Blend posted a $9.4M loss in the first quarter as the slow pace of home sales pulled revenue from its mortgage software suite down 22% from Q4. Its consumer banking suite brought in $9.6M
Cloud banking software provider continues to grow consumer banking revenue, while reversing the decline in its main line of business of providing services to mortgage lenders
In reporting $20.7M Q1 loss, mortgage tech and cloud banking software provider says it's debt free and on faster track to profitability, thanks to $150M cash injection from Haveli Investments
The struggling loan technology provider will use an influx of cash from Haveli Investments to pay off the debt it took on to get into the title insurance business by acquiring Title365 in 2021
Mortgage technology, title provider and cloud-based banking platform has eliminated more than 1,000 positions in 5 rounds of layoffs in the last 16 months
San Francisco-based cloud banking software provider has trimmed the company's payroll by nearly 800 employees and cut annual expenses by $72M
Blend also announced the resignations of President Timothy Mayopoulos, Head of Finance Marc Greenberg and Head of Legal Crystal Summer amid a round of cuts impacting about 340 workers
The mortgage tech and title provider posted a $132.7M net loss in the third quarter of 2022, with revenue falling 38% from a year ago to $55.3M, according to an earnings call Thursday
'Strategic partnership' is a win for mortgage tech and title insurance provider Blend, which has cut its workforce by about 25% this year and racked up an accumulated $995M deficit
As cumulative losses climb toward $1B, co-founder Nima Ghamsari still plans to lead a 'once-in-a-lifetime industry transformation' powered by the mortgage tech and title insurance provider
The mortgage tech provider's newly acquired title insurance business has been particularly hard hit by the end of the refinancing boom
Shares in Blend touched a new all-time low after the company issued 2022 revenue guidance that co-founder and CEO Nima Ghamsari acknowledged as "much lower than consensus estimates"
The deal paves the way for the first 'cloud-native' mortgage servicing platform