Ability to configure language for Review Items in the Pre-Approval Letter

Available Now, Opt-In

Purpose of Update and Benefit: In the Pre-Approval Letter (PAL), we have the ability to check off review items where a borrower has linked their information - credit, assets, income. When a borrower does not link their information during application submission, we do not show this information in the PAL body. A common feedback request we receive is to include alternative language if the standard review items are not shown, and this new feature will allow us to deliver on those requests. 

This is an opt-in feature. Please contact Blend Support to configure this in your environment. 

Current Behavior: Currently, lenders can opt to enable a section of the PAL called the “Show Review Items Paragraph.” If that configuration is enabled and a borrower connects a bank account, credit is pulled, or if income is verified, a short paragraph will be added to the PAL confirming that those checks have been completed. We only include that paragraph if at least two of the three items have been completed.

New Behavior: If lenders choose to enable this new feature, a lender can configure alternative language to appear in this section of the PAL. An example of alternative language is below, but lenders can configure the language however they would like.

This qualification is based on several tasks already completed on your behalf:

√credit report

√automated review based on your stated income and assets

Unlike the review items, the alternative language would not dynamically generate depending on borrower or loan team behavior and are instead static language that would show up on all PALs where there are no review items. This language will only appear if the Review Items Paragraph does not generate on the PAL.

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