(Update) Section Headers Added to Adverse Action Notice Document Templates

(Update 3/27) This release has been pushed back by one day, and will be made available in beta environments beforehand. The updated AAN doc will be made available in beta environments on 4/8, and then in production environments on 4/10 (instead of the originally-communicated date of 4/9). Please contact Blend Support or your Blend representative if you have any questions.

Date Available: Beta 4/8, Prod 4/10

Which customers are impacted?: All customers who leverage Blend’s Adverse Action Notice (AAN) document template in their Blend environment. 

How to turn on: This feature will be automatically enabled for all customers on the date listed above.

Purpose of Update and Benefit: 

The Consumer Financial Protection Bureau (CFPB) guidance stipulates specific section headers should be included in adverse action notices. The existing AAN template in Blend does not contain these headers currently, and so these templates will be updated to include them. By adding these section headers, the document will be better aligned with the CFPB’s guidance and make it easier for borrowers and consumers to understand why their applications are denied and what their rights are. 

If you have any questions, please reach out to Blend Support or your Blend representative. 

Current Behavior:

A sample of the existing AAN document generated in Blend can be found here. 

New Behavior:

When enabled, the AAN documents will include two new headers above the appropriate sections of the document. A sample of the new AAN document with the section headers is available here. 

Note: These documents are hosted in Google Drive. If you cannot access content in Google Drive, please contact Blend Support or your Blend representative and request a PDF version. 

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