Industry Briefs Oct. 9, 2023

Blend Expands Capabilities of Blend Income

Blend, San Francisco, announced the addition of Assets-Derived income to its Blend Income product.

Blend Income is now integrated with Freddie Mac’s AIM Check application programming interface (API). The API, which utilizes Loan Product Advisor (LPA) asset and income modeler (AIM) independent of an LPA submission, enables relevant users to get a preliminary view of a borrower’s qualifying asset, income and employment before submitting a full application. 

With this newest enhancement, lenders will have an additional pathway to verify more income sources more quickly.

“By teaming with technology partners such as Blend, we are able to help lenders assess more income types quicker with AIM’s innovative use of direct deposit data,” said Daniel Miller, Freddie Mac Single-Family Director of Strategic Technology Relationships. “This paves the way for lenders to reach more qualified borrowers, and ultimately brings us closer to our mission of making homeownership more accessible and affordable.”

Lender Toolkit Launches Prism

Lender Toolkit, Salt Lake City, announced the launch of Prism, an automated income calculator.

The new tool integrates with Encompass by ICE Mortgage Technology to provide a simplified income automation workflow for all income types and includes built-in agency guidelines, among other features. It is also integrated with Lender Toolkit’s AI Underwriter.

Lender Toolkit partnered with Blueprint, to provide the income calculator.

The firm also introduced Prism Plus, which includes all the features of Prism and provides automated data extraction from income documents, among other features.