Borrower SMS Functionality

SMS notifications are an efficient way for lenders to engage with borrowers. With SMS open rates as high as 98% and response times as low as 90 seconds, SMS notifications can keep borrowers engaged throughout the application process. Lenders can enable fully compliant, double opt-in one-way SMS notifications in Blend to help borrowers stay on track and reduce loan lifecycle times.

• Types of Notifications
• Close Notifications
• Borrower Opt-in/ Opt-Out 
• Pause Notifications

 Note:

• The text messages mirror the automated emails currently sent to borrowers in Blend, which are entirely focused on helping borrowers complete the transaction they have initiated.
• Text messages are only sent if the borrower opts into receiving text messages about their loan application.
• Currently, this feature is only available for mortgage applications.

Types of Notifications

 Note:

• You can choose whether to enable SMS notifications for Application Invitations, Disclosures, Pre-approvals, and Close for their environments, however, SMS notifications for Follow-ups will always be enabled.
• For Follow-ups and Disclosures, there will be an accompanying reminder text that will be sent 48 hours after the first one.

Close Notifications

The following fields within brackets will be pulled from various places within Blend: 

• [borrower first name] and [recipientFirstName] will populate with what is entered in the First name field for the borrower in the application.
• [lenderFriendlyName] will populate with what’s entered in the “Friendly Lender Name” field in the lender’s account settings. 
  • A lender’s user admin can change this by navigating to Your settings > Setup > Organization and changing the “Friendly Lender Name”
• [preApprovedSynonym] is a setting associated with pre-approval letters that are generated within Blend.
  • This needs to be configured by internal Blend teams. If nothing has been configured, we will default to “pre-approval” in this field.
• [Link] is a short link to the application that will be automatically generated and included in the SMS.

Borrower Opt-in/Opt-Out

1. Click the Manage borrowers & SMS link.
   

2. Check the checkbox for consent receipt.

3. Enter the preferred mobile phone number.

4. Click Save. At this time, borrowers will receive a text message from the phone number associated with the lender's environment asking them for a confirmation of the opt-in to receive SMS updates for their loan.
   

 Note:

• The "Preferred mobile phone #” field will be disabled unless the loan team confirms the borrower has consented to SMS updates by checking the appropriate box.
• When opt-in is initiated from the lender application, loan team members must confirm that the borrower has opted in to receive SMS notifications, and borrowers must confirm via reply text that they have opted in as well.

The Following notification flags will display in the "SMS update Consent" section after the lender has opted-in the borrower for SMS texts:

a. Loan teams who return to the “Manage borrowers & SMS” screen after saving will see a flag Awaiting borrower response next to the SMS update consent section header. This flag will not change until the borrower confirms opt-in (or opt-out) via text. 

b. Once the text recipient confirms opt in, loan teams will see a flag saying Borrower phone number has opted in next to the SMS update consent section header.

c. Once a text recipient opts out, loan teams will see a flag saying Borrower phone number has opted out next to the SMS update consent section header.

 Note: If the text recipient replies to the messages with anything other than the recognized trigger words (YES, START, UNSTOP, STOP, UNSUBSCRIBE, CANCEL, and QUIT), they will not receive a response.

Pause Notifications

1. Click the Manage borrowers & SMS link.
   

2. Check Pause notifications.

3. Click Save.
   

 Note: 

• This will temporarily suspend the delivery of SMS notifications to the borrower without permanently altering SMS consent.
• The “Pause notifications” checkbox will be disabled if the borrower has not opted in.
• The Application Invitation messages – which can only be sent manually – are not controlled by the Pause notifications button, and therefore will be sent to borrowers if the loan team initiates one, regardless of whether this box is checked.
• If borrowers want to opt out of SMS notifications, they can text STOP, UNSUBSCRIBE, CANCEL, or QUIT to the thread. Once they do, they will receive a short message confirming they have been opted out and no text messages will be sent to the associated phone number after this. Should the borrower change their mind and wish to receive SMS notifications again, they will need to respond to the thread with START or UNSTOP to re-subscribe for updates. 
• All SMS activity is recorded within Blend and available for review at any time.