Adding manual support for down payment assistance loans and other liens

Date Available: Beta 4/19, Prod 4/19

Which customers are impacted?: 

Any customer that uses the Blend Lender Application and wants to turn this feature on. 

How to turn on: 

• This will not be automatically enabled for our customers. It will be available beginning on the dates listed above. If you’d like to take advantage of this functionality, please email support@blend.com.

Purpose of Update and Benefit:

We are adding manual support for down payment assistance loans and additional liens. We currently have some support for other liens in the "Other new mortgage loans" section, however, are adding more details here. 

Current Behavior:

We offer some support for additional liens.

New Behavior:

Please see the additional updates for down payment assistance loans and additional liens below: 

• Additional fields added within the UI*
  • Mortgage Type
  • Interest Rate 
  • Amortization Period 
  • Amortization Type 

*Please note that the additional fields added within the UI will not export to an LOS because there are no standard mismo fields to support these additional details. These are included for tracking purposes and in case a user would like to come back to Blend as a reference. 

• Changed the lien radio button to a drop-down so a user can specify the lien type 

• Updated the fees page, the monthly debt page, and the loan cost worksheet to include the monthly payment and loan amount of the additional liens automatically.  

• For DPAs that are grants instead of loans, there is now a new enumeration to the “Other Assets” category called “Down Payment Assistance Grant” which will reduce the total borrower cash to close. 

Please note that these additional fields are manual inputs. These fields are not linked to a pricing selection and require that a user manually fill these in. 

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