Randolph-Brooks Federal Credit Union Selects Blend to Transform its Loan Origination Experience
March 19 2024 - 7:05AM
Business Wire
10th Largest Credit Union in the U.S. Chooses
Blend’s Mortgage Suite and Home Equity Solution
Blend, a leading provider of cloud banking services, announced
today that Randolph-Brooks Federal Credit Union (RBFCU) has
selected Blend’s Mortgage Suite - including income verification and
Blend Close - to streamline their mortgage origination process.
RBFCU will also adopt Blend’s Home Equity solution, providing their
members access to a fully digital, end-to-end home equity product
that significantly reduces loan application approval times.
“Helping our members achieve their financial goals while
providing a personalized member experience has always been a top
priority for RBFCU,” RBFCU’s Senior Vice President-Mortgage Victor
Williams said. “When we looked at all of our options, Blend was the
best culture fit given their focus on member experience. We are
thrilled to partner with Blend to further elevate our mortgage and
home equity lending offerings. We believe this collaboration will
not only enhance our operational efficiency, but also enable us to
better serve the evolving needs of our members.”
Blend’s Mortgage Suite eliminates an average of 8 days from the
overall loan cycle time - from processing to closing - resulting in
$914 in average cost savings per loan, according to a 2023 impact
analysis conducted by MarketWise Advisors.
In addition, with Blend's Home Equity solution, RBFCU will now
be able to offer an easier home equity origination experience. This
enhanced application process has proven to usher consumers from
intent to closing in the way they want; it will assist RBFCU
members whether they desire to be in front of the credit union’s
world-class member service representatives or on the highly rated
digital platforms at rbfcu.org and the RBFCU Mobile® app. Through
Blend’s partnership, RBFCU members will navigate through
verification services and a closing experience that will help them
save time and money.
"At Blend, we are committed to empowering financial institutions
with the tools they need to thrive in today's digital landscape,"
said Erik Wrobel, Head of Product at Blend. "We are pleased that
RBFCU has chosen Blend and we look forward to working closely with
them to drive innovation, improve efficiency, and deliver
exceptional experiences to their members and loan teams alike."
To learn more about Blend’s digital lending solutions, please
visit www.blend.com.
About Blend
Blend is the infrastructure powering the future of banking.
Financial providers— from large banks, fintechs, and credit unions
to community and independent mortgage banks—use Blend’s platform to
transform banking experiences for their customers. Blend powers
billions of dollars in financial transactions every day. To learn
more, visit blend.com.
About Randolph-Brooks Federal Credit Union
Established in 1952, Randolph-Brooks Federal Credit Union is a
full-service financial cooperative whose mission is to improve
members’ economic well-being and quality of life. With assets
exceeding $18 billion, RBFCU serves more than 1 million members at
62 branch locations throughout Texas, and online at rbfcu.org and
the RBFCU Mobile® app.
Forward-Looking Disclaimer
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements generally relate to future events, future
performance or expectations and involve substantial risks and
uncertainties. Forward-looking statements in this press release may
include, but are not limited to, our expectations regarding our
product roadmap, future products/features, the timing of new
product/feature introductions, market size and growth
opportunities, macroeconomics and industry conditions, capital
expenditures, plans for future operations, competitive position,
technological capabilities and strategic relationships, as well as
assumptions relating to the foregoing. The forward-looking
statements contained in this press release are subject to risks and
uncertainties that could cause actual outcomes to differ materially
from the outcomes predicted. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,”
“should,” “expect,” “plan,” “anticipate,” “could,” “would,”
“intend,” “target,” “project,” “contemplate,” “believe,”
“estimate,” “predict,” “potential” or “continue” or the negative of
these terms or other comparable terminology that concern Blend’s
expectations, strategy, plans or intentions. You should not put
undue reliance on any forward-looking statements. Forward-looking
statements should not be read as a guarantee of future performance
or results and will not necessarily be accurate indications of the
times at, or by which such performance or results will be achieved,
if at all. Further information on these risks and uncertainties are
set forth in our filings with the Securities and Exchange
Commission. All forward-looking statements in this press release
are based on information available to Blend and assumptions and
beliefs as of the date hereof. New risks and uncertainties emerge
from time to time, and it is not possible for us to predict all
risks and uncertainties that could have an impact on the
forward-looking statements contained in this press release. Except
as required by law, Blend does not undertake any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future developments, or otherwise.
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