Blend Partners with PenFed Credit Union to Enhance Home Lending Operations
Blend, a leading origination platform for banking solutions, has announced its partnership with PenFed Credit Union to improve its home lending operations.
“Blend’s advanced loan officer tools provide us with the flexibility to make critical decisions, whether it’s about credit pulls or borrower engagement, enabling our team to serve members more effectively,” said a PenFed representative.
As the second-largest federal credit union in the U.S., boasting over $33 billion in assets and nearly 3 million members, PenFed’s collaboration with Blend signifies a major step toward delivering a seamless mortgage application experience for its members while equipping loan officers with an advanced platform.
Blend: A Trusted Partner for Credit Unions
Blend currently partners with seven of the top 10 credit unions in the U.S., offering extensive expertise and tailored recommendations throughout the origination lifecycle to the PenFed team.
“From the start, PenFed and Blend shared a vision of delivering an intuitive, end-to-end experience for our members and loan officers,” stated Winston Wilkinson, PenFed’s President of Mortgage and EVP of Residential & Commercial Real Estate. “Blend’s established track record with credit unions and their expertise gave us confidence in choosing them as our long-term strategic partner.”
Streamlined Member Experience Through Intelligent Automation
A key aspect of the partnership is Blend’s ability to integrate with PenFed’s existing systems and automate key processes within the origination workflow. Blend’s ecosystem of over 70 pre-built native integrations will enable PenFed to automate the generation and delivery of loan conditions and documents, simplifying the member experience and enhancing loan team efficiency.
“This collaboration with PenFed represents our excitement to support their digital transformation,” said Nima Ghamsari, Head of Blend. “We have spent the last decade building a platform that addresses every aspect of the home lending process, and we look forward to delivering personalized, efficient experiences that scale with our members’ needs.”
Empowering Loan Officers with Consumer-Grade Tools
In addition to streamlining the origination, processing, and underwriting phases, Blend’s consumer-grade loan officer tools will enable PenFed to serve more members and capture additional business, all from a single platform.
“Top-performing loan officers often prefer managing their own workflows,” noted Wilkinson. “Blend’s advanced tools allow us to offer this flexibility, enabling our team to have greater control and serve our members more effectively.”
Blend’s Loan Officer Toolkit supports key workflows across the entire loan process in one workspace, allowing loan officers to track pipelines, communicate instantly with borrowers, and manage application milestones efficiently.
About Blend
Blend (NYSE: BLND) is a premier origination platform for banking solutions. Financial providers, including large banks, fintechs, regional credit unions, and independent mortgage banks, utilize Blend to transform customer banking experiences. For more information, visit blend.com.
About Pentagon Federal Credit Union
Established in 1935, PenFed is America’s second-largest federal credit union, serving 2.9 million members worldwide with over $33 billion in assets. PenFed offers a range of financial services, including certificates, checking, credit cards, personal loans, mortgages, and auto loans, always prioritizing members’ interests. For more details, visit PenFed.org.
Forward-Looking Disclaimer
This press release contains forward-looking statements that are inherently uncertain and based on management’s current expectations. These statements may involve risks and uncertainties that could lead to actual outcomes differing materially from those predicted. Readers should not rely on forward-looking statements as guarantees of future performance. For further information on potential risks and uncertainties, refer to Blend’s filings with the Securities and Exchange Commission.
