Consumer Terms Display Change

5/10 Beta, 6/7 Prod

Purpose of Update and Benefit:
Blend currently limits lenders to presenting their Terms of Use directly above Blend’s within the same link to a modal with the detailed Terms of Use. To make borrower Terms of Use easier to understand, we’re introducing an updated layout during the borrower application that shows which Terms of Use relates to the lender and Blend, respectively.

These changes will not affect any currently defined Terms of Use that a lender has set up and instead will shift the location of presentation to borrowers.

Current Behavior:
Today, when borrowers sign into their account or are starting the application process, both Blend’s Terms of Use as well as the lenders are available to borrowers from a single link in the bottom left corner.


This Terms of Use link opens a modal that details the lender's Terms of Use, if they have been added, followed by Blend’s Terms of Use. Lenders have the ability to define their own Terms of Use that are presented to borrowers above those of Blend.

Within the Getting Started section of the application process, borrowers are currently presented with the same Terms of Use link that opens a modal detailing the lender's Terms of Use followed by Blend’s.



New Behavior:
This change will more clearly delineate between Blend’s Terms of Use and those of the lender. Now, when borrowers are signing into their account or signing up, there is one link to Blend’s Terms of Use and Privacy Policy and a separate link to the lender's Terms of Use.

During the Getting Started stage of the application process, Blend’s Terms of Use are split out from the lender’s, allowing borrowers to access each independently of one another.


Borrowers still need to consent by clicking the checkbox located next to the terms consents before proceeding with their application. Both Blend’s Privacy Policy and the lender’s Privacy Policy have been moved to directly above the ‘Continue’ button and no longer require a borrower to select a checkbox to consent to either but rather in clicking ‘Continue’ and proceeding in the application the borrower acknowledges both Privacy Policies.

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