(New) Ability to Trigger Blend Income Verification of Income (VOI) on Export and at Intent to Proceed (ITP)

Date Available: Available now, opt-in

Which customers are impacted?: Customers using Blend Income for mortgage and home equity can enable these features. 

How to turn on: These features will not automatically be turned on. It will be available beginning on the dates listed above. If you’d like to take advantage of these functionalities, please email support@blend.com.

Purpose of Update and Benefit:

Blend is introducing two new automations to Blend Income that will allow lenders to initiate VOI for a larger number of use cases: Automated Income at Export and Automated Income at ITP. These features are currently available for customers using Blend Income for mortgage and home equity use cases only. To enable either of these in your environment, please contact Blend Support or your Blend representative. 

Current Behavior:

Blend Income currently does not trigger VOI on export or ITP. 

New Behaviors:

Expected behaviors for each configuration are below. 

Automated Income at Export

For loans that have not previously attempted VOI through Blend Income or TWN, Blend Income will attempt to verify income and employment when the application is exported to the LOS. If the Blend Income results in a successful hit, a full application report will be generated and made available in the Docs tab of the lender application, and the Documents tab in the borrower home page. 

If both TWN and Blend Income are configured to trigger at export, Blend Income will be attempted first before falling back to TWN. 

Automated Income at ITP

If a loan that has not previously attempted VOI through Blend Income or TWN reaches intent to proceed (ITP), Blend Income will attempt to verify income and employment upon delivery of ITP. This will allow lenders to rely on Blend Income VOI for followup-only loans, disclosure-only loans, and lender-initiated loans (as long as VOI was not attempted by TWN or Blend Income prior to ITP). 

If the hit is successful, a full application report will be generated and made available in the Docs tab of the lender application, and the Documents tab in the borrower home page.

For customers who use disclosures in Blend, VOI will be triggered when a borrower signs their initial disclosures package. This will be the default trigger for any Blend Income customer who enables this feature and uses disclosures in Blend. For customers using Encompass NextGen, Blend has an ITP event listener that will automatically post ITP to Blend when it is received through the LOS. Customers who do not use disclosures in Blend and who do not use Encompass NextGen can still take advantage of this feature by engaging their development team or a third-party consultant to build a custom ITP trigger using Blend’s public API endpoint.

If both TWN and Blend Income are configured to trigger at ITP, Blend Income will be attempted first before falling back to TWN. 

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