Mountain America Credit Union to Offer Instant Home Equity With Blend
Nation's 12th-Largest Credit Union Selects Blend's Revolutionary Home Equity Product ... | December 19, 2022
Blend, a leader in cloud banking software, today announced that Mountain America Credit Union has selected its Instant Home Equity solution. This will give members access to a digital home equity product that drastically reduces loan approval times.
The new product is digitally transformed and simplified to allow Mountain America members to access their home equity process. The new digital home equity process significantly reduces the time it takes for loan applicants to close. It can take up to four to six weeks, but now it takes just a few days.
Blend's Instant Home Equity is officially known. It combines automated income verification and identity verification, instant title and remote online notarization. This product allows both lenders and borrowers to save significant time and money. The new service digitizes the home equity process and aims to improve customer satisfaction and maximize home equity line credit (HELOC).
Amy Moser, Mountain America's senior vice president and chief lender officer, stated that the company's focus is always on its members. She said, "Our focus is always upon our members and providing with financial resources that help them achieve and define their financial dreams." Blend's partnership with us supports our priority to find ways to offer our members personalized financial experiences, including home equity lending, that will help us reach our goals and deliver an exceptional member experience.
Instant Home Equity allows Mountain America to have access to a HELOC marketplace that continues to grow despite the decline in refinances and purchase mortgages. HELOC lending activity grew to its highest point in 15 years during the first half 2022.
"Mountain America has been a long-standing partner with us on the delivery of mortgage and consumer banking products powered by Blend. We're thrilled to be able continue that work in a new area, and we're happy to do so," said Erik Wrobel (head of product at Blend). "We are glad to have been trusted to play an integral part in helping Mountain America's mission of providing their members with the most efficient and simple financial experience possible through our work automating the home equity loan origination process.
Blend is the infrastructure that will power the future of banking. Blend's platform is used by financial providers, including large banks, credit unions, fintechs and credit unions, as well as community and independent mortgage lenders, to transform the banking experience for their customers. Every day, Blend is able to power billions in financial transactions. Blend.com is a great place to learn more.
About Mountain America Credit Union
Mountain America Credit Union has more than a million members and $15.9billion in assets. This allows its members to define and realize their financial goals. Mountain America offers a wide range of flexible, convenient products and services that are both affordable and accessible to consumers and businesses. They also provide sound and timely advice. Macu.com has more information.
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