Ability to add loan originator signature to Pre-approval letters (PALs) in Blend

Date Available: Available now, opt-in

Which customers are impacted?: Customers may take advantage of this functionality if they are using PALs in Blend. 

Required?: No, opt-in.

How to turn on: This will not be automatically enabled for our customers. If you’d like to take advantage of this functionality, please email support@blend.com.

Purpose of Update and Benefit:

Blend’s Pre-Approval Letter feature has been updated so that loan originators can apply their e-signature to the PAL before sharing it with the borrower(s). This feature has been built to comply with Texas DSML Conditional Pre-Qualification Letter (Form A) requirements, though lenders may enable this feature for any state if they wish. 

Current Behavior:

Currently, it is not possible to apply e-signatures to PALs in Blend. 

New Behavior:

If enabled, when the loan originator attempts to send the PAL to a borrower, they will see a checkbox that, if checked, will apply an e-signature to the pre approval letter. Checking this box confirms that the PAL has been reviewed and verified by the loan originator. Only users who have been assigned as the “Loan Originator” role for the application will be able to add their signature to the PAL.  

Checking this box will also apply the loan originator’s e-signature to the pre-approval letter. The signature chip will only show the loan originator’s name and the timestamp that the date and time that the letter was generated and the signature was applied. The timezone will reflect the configured timezone for the environment.

This feature is configured on a per-state basis. Therefore, the e-signature will only appear on a PAL if the subject property’s state is configured in Blend to generate the e-signature.

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