With Blend's Asset Connectivity, borrowers can connect their financial account information during the application process and post application submission with follow-ups. By connecting to their financial institutions, Blend is able to create Generated Assets Statements (GAS) that qualify for D1C and AIM. This article describes a borrower's experience with Asset Connectivity.
Asset connectivity overview
When borrowers get to the Assets section, they'll have the opportunity to search for their financial institution and enter their banking credentials to link their accounts. Blend offers connections to around 95% of the financial institutions in the US through our secure online application. Not only do we support checking and savings accounts, but brokerage and retirement accounts are also supported.
In some instances, accounts may not be successfully connected and therefore GAS created. For example; if the account has not had any activity in the last 60 days or the website is down for maintenance. In these rare cases, borrowers can enter your account type and balances manually and we will request copies of your bank statements after you submit your application.
Asset connectivity borrower workflow
The borrower asset connectivity workflow outlined below is the same whether it is completed during the application process or as a post-submit Asset Statement follow-up.
- Borrowers will reach the Assets milestone and start the section.
- They can search for their financial institution or choose from the options shown.
Note: Clicking I don't have any assets will mark the task as completed without linking their accounts or generating asset statements.
- After selecting their financial institution, borrowers can enter their banking credentials to securely connect their accounts. Depending on how their account is set up, borrowers may be asked to authenticate through Multi-factor authentication (MFA).
Clicking I don't want to link this account will allow the borrower to enter account details manually. Please note that this will not link their account and therefore, no account statements will be generated. - After logging in successfully, the borrower will be presented with the available accounts. Borrowers can choose to remove any of the accounts they do not want to include in their application by clicking on the X buttons on the far right of each account listed.
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Borrowers can click Edit to go back to the previous screen and remove accounts if necessary.
Clicking Yes, add another account will take borrowers back to the first screen in this workflow where they can connect to another financial institution.