The "intelligent" workflows listed here are a part of the standard set of post-submission workflows enabled for a new customer. Each customer has the opportunity to configure each item, as noted below, or opt-out of the workflow to conform with their credit policy. For "intelligent" workflows that are dependent on credit, they can only be enabled if credit is pulled in Blend.
Note: If you’d like to disable any of the listed workflows, please reach out to your Blend project team.
Loan officer's controls
LOs cannot modify the Application Template since that is set at the customer level. However, LOs can remove requests from an individual loan.
Tip: All documents detailed here will be available in Blend’s Docs tab for download or consumption via your current Blend-LOS integration.
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Gift Letter
Description: Automatically requests a Gift Letter to be signed by your borrower and borrower’s donor, inclusive of the following details:
- Gift Amount
- Date of Transfer
- Donor name, address, phone number, and relation to borrower
- Trigger logic: Borrower indicates using a gift as a partial or full source of their downpayment.
Note: Triggered by borrower-entered applications only.
Configurable decisions: Display lender’s logo (from Blend branding) on Gift Letter
- Toggle whether to request the following:
- Institution name, account type, and account number
- Method of transfer
- Account Statements
- Manually-entered accounts
Bank Statements
Description: Automatically requests Bank Statements (covering last 60 days of activity) for each account a borrower manually enters in Blend.
- Trigger logic:
- Borrower manually entered asset information for an account
Connected Accounts
Description: Automatically generates Asset Statements (for last 60 days of activity) for each account a borrower connected in Blend.
- Trigger logic:
- Borrower connected their account in Blend
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Paystubs
Description: Automatically requests Paystubs for the last 30 days. If applicable, we will also additionally request an end-of-year paystub.
- Trigger logic:
- To trigger Paystubs, borrower’s current income source is the following:
- Employment Pay
- Military Pay
- C-Corp, regardless of ownership %
- Independent Contractor
- Additionally, if the borrower's’ employment period includes 12/31 and borrower indicates any bonus, commission, or overtime income, we will also request an end-of-year paystub.
W-2s
Description: Automatically requests up to 2 years of W-2s for each relevant employer, depending on borrowers’ start date
- Trigger logic:
- Borrower enters any of the following:
- Employment Pay, excluding Military Pay
- C-Corp, regardless of ownership %
Note: Blend evaluates the start date and an Feb 1 cutoff date to determine which two years of W-2s are requested.
1099s
Description: Automatically requests up to 2 years of 1099s
- Trigger logic:
- Borrower enters Independent Contract Pay
Personal Tax Returns
Description: Automatically requests up to 2 years of Tax Returns
- Only one set of tax returns will be requested for borrowers who indicated joint filing
- Trigger logic: Blend uses April 15 as the cutoff date to determine which two years tax returns are requested.
- Configurable Decisions
- Option 1: Always request tax returns, except when borrower has C-corp income
- Option 2: Always request tax returns, except when borrower has employment, military, SSN, or C-Corp pay
Business Tax Returns or K-1s
Description: Automatically requests up to 2 years of Business Tax Returns or K-1s depending on the type of business and ownership percentage
- Trigger logic:
- Borrower enters Business / Self Employment Income
- See Business Tax Returns detail for full trigger logic across Sole Proprietorship, S-Corp, LLC, or Partnership + ownership %
- Blend evaluates the start date and an April 15 cutoff date to determine if one or two years of Business tax returns are requested.
- Blend evaluates the start date and an Jan 1 cutoff date to determine if one or two years of K-1s are requested.
Tax Transcripts
Description: Automatically requests Tax Transcripts (4506-T) to be signed by each borrower (respects client’s configuration for whether borrowers can sign on each other’s behalf)
- The following configurations can be made at the lender-level:
- Number of years to request - last year, last 2 years, last 3 years
- 4506-T fields to pre-check (if any)
- 6a Return transcript
- 6b Account transcript
- 6c Record of account
- 7 Verification of nonfiling
- 8 Form W-2, Form 1099 series, Form 1098 series, or Form 5498 series transcript
- Whether to combine 4506-T with the DocuSign certificate of completion
- Whether to collect information on non-borrowing co-filer
- Annuity Award Letter
- Trigger logic: Borrower enters Other Income - Annuity
- Deferred Compensation Award Letter
- Trigger logic: Borrower enters Other Income - Deferred Compensation
- Pension Award Letter
- Trigger logic: Borrower enters Other Income - Pension
- Social Security Award Letter
- Trigger logic: Borrower enters Social Security Income
Rental Agreement
Description: Automatically requests a Rental Agreement for each investment property
- Trigger logic:
- Borrower enters Rental Income OR
- Borrower enters owned real estate and selects a Property Use of “Investment/Rental Property”
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Mortgage Statement
Description: Automatically requests a Mortgage Statement for each relevant property (owned properties with outstanding mortgages and/or subject property that is being refinanced)
- Trigger logic:
- Borrower indicates real estate owned with outstanding mortgage payments (If configured as “all properties”)
- Borrower applies for a refinance (If configured as “refinance”)
- Configurable Decisions:
- Client can select whether Mortgage Statements should be requested for:
- All properties (default configuration)
OR
Other Financing Statement
Description: Automatically requests statement to validate any Additional Financing
- Trigger logic:
- Borrower indicates owning the subject property
Home Insurance Policy
- Trigger logic:
- Borrower indicates owning real estate. Each owned property will get a separate HOI request.
- If refi, always request HOI.
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Large Deposit LOE
Description: Automatically requests a Large Deposit Letter of Explanation with source of deposit and supporting documentation, as applicable.
- Possible supporting documentation include proof of sale, paystubs, 2 months of bank statements, or other.
- Trigger logic:
- Borrower’s “connected” assets or manually uploaded Bank of America statements in Blend have deposits that are >=50% of monthly qualifying income (MQI) and MQI >= $800
- Note: Triggered by borrower-entered applications only.
- See LOE Large Deposit Detail for Blend’s MQI calculation
- Blend will not request an explanation if it is able to detect that the deposit is a direct deposit, SSA income, IRS refund, or pension income. If a transaction has a transaction type, Blend uses that to detect the source of the deposit.
- Configurable decisions:
- Require borrower(s) signature on LOE (decision is applicable across all Blend LOEs)
- Trigger Large Deposit LOEs as automatic follow-ups or suggested follow-ups, requiring LO to review before sending to the borrower
Previous Address LOE
Description: Automatically requests a Previous Address Letter of Explanation with a borrower-provided explanation for all known addresses.
- Trigger logic:
- Requires credit pull in Blend
- Borrower’s credit report has an address that does not match any other addresses on the 1003 application.
- Configurable decisions:
- Require Borrower signature on LOE (decision is applicable across all Blend LOEs)
Credit Inquiry LOE
Description: Automatically requests a Credit Inquiry Letter of Explanation with a borrower-provided outcome and reason for each inquiry.
- Trigger logic:
- Requires credit pull in Blend
- Borrower’s credit report has credit inquiries in the last 120 days.
- Configurable decisions:
- Require Borrower signature on LOE (decision is applicable across all Blend LOEs)
Late Payment LOE
Description: Automatically requests a Late Payment Letter of Explanation with a borrower-provided reason for each late payment.
- Trigger logic:
- Requires credit pull in Blend
- Borrower’s credit report has any non-medical late payment within your configured lookback period.
ookback period is configurable only at the lender-level.
- Configurable decisions:
- 120 days, 6 months, 1 year, 2 years, always
- Require Borrower signature on LOE (decision is applicable across all Blend LOEs)
- Lookback period over which to request LOEs on non-medical accounts that had a late payment:
Public Record LOE
Description: Automatically requests a Public Record Letter of Explanation with a borrower-provided outcome for each public record (judgment, tax liens, bankruptcies, etc…).
- Trigger logic:
- Requires credit pull in Blend
- Borrower’s credit report has any public records listed.
- Configurable decisions:
- Require Borrower signature on LOE (decision is applicable across all Blend LOEs)
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Custom Request
Description: Automatically requests lender-specified document from all borrowers
- Configurable decisions:
- Lender can request any document to be configured to be asked of all borrowers post-submission
- Example: Borrower’s Authorization Form
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DISCLAIMER: All mentioned features on this page may not be applicable to your institution, please reach out to (support@blend.com) for more information on what features are enabled for your use.
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