Borrowers can complete the assets section by entering their online banking credentials or by manually uploading their bank statements, the LO cannot connect to borrower’s banks to generate asset statements or manually upload their statements. LOs can enter account information and balances in the application page before the borrower accepts their email invitation and activates their Blend account, however, if the LO has entered that information on the Application screen, the connectivity option will no longer be available to the borrowers. They will still be able to upload their bank statements manually.
Review and submit application
The LO can complete a lot of sections of the application in the copilot feature, but the LO cannot review and submit the application on behalf of the borrower. If your company’s configuration is set up to auto-export the loan to the LOS upon submission, the borrower would need to log in and submit the application themselves.
Ability to make edits on the Application screen while the borrower is working on the application
Once the LO sends the borrower an invitation to complete the application and the borrower logs in, the LO will not be able to edit the Application screen as long as the borrower is working on the loan. Updating the borrower’s email address will be the only step available. LO will have to "Take over" the application to make edits.
Editing the Application screen after loan export
Just as the loan officer cannot edit the Application screen while the borrower is filling out the application, the application page will again become locked after the loan has been exported to the LOS.
E-Consent must be completed by the borrower(s). Your borrower will need to log in and complete econsent just before submitting their application. Credit consent may be provided verbally or by the borrower submitting the application.
LO should never sign documents on behalf of the borrower. While the LO will be able to view the documents requiring borrower’s signature, the will not be able to sign the document. The borrower must log in to complete e-signature.
Resource: Adding e-Signature Follow-Ups
If your organization is set up to request disclosures through Blend, the LOs will not be able to view or sign the disclosures upon borrower’s submission of the application.
Loan officers cannot complete the Home Insurance process for borrowers in the co-pilot view or the lender view. Keep in mind that the Home Insurance process is not available at all organizations.
Letters of Explanation
Letters of Explanation can be automatically requested through Blend if the application information submitted by the borrower meets certain criteria. These follow ups must be completed by the borrower, not the loan officer.
Resource: The following articles provide examples of Letters of Explanation that can be requested through Blend: