Horizon Bank Selects Blend To Upgrade Mortgage Lending Experience

July 25, 2024 at 16:22 PM EDT

Technology partnership to enhance customer experience and boost loan officer productivity

Horizon Bank, an $8 billion financial institution and division of Horizon Bancorp, Inc. (NASDAQ GS: HBNC), one of the largest independent bank holding companies in the Midwest, today announced a new partnership with Blend (NYSE: BLND), a leading provider of digital banking solutions, to digitally enhance their end-to-end mortgage lending process.

“Our goal was to find a technology partner that could enable us to deliver a fast, efficient, and convenient home buying application experience for our customers,” said David Pendley, President Retail Mortgage Banking at Horizon Bank. “Blend's advanced automation and loan officer mobile capabilities made the decision to upgrade a no-brainer.”

A Modern Mortgage Application Experience

Blend’s Mortgage Suite offers a comprehensive solution that integrates seamlessly with Horizon Bank’s existing infrastructure.

By automating manual workflows and reducing the number of steps borrowers must take to complete their application, Blend’s digital mortgage solution creates a smoother, and more efficient lending experience that enhances the borrower experience, reduces origination costs, and drives operational efficiency.

Supercharging Loan Officer Productivity

Blend's LO productivity tools will increase the ease and speed at which Horizon’s Loan Officers can serve their customers in this competitive environment.

Using Blend’s platform, Loan Officers can seamlessly perform tasks that include starting applications, pulling credit, structuring loans, granting pre-approvals, and locking in rates. These capabilities are accessible both on desktop via Blend’s LO Mobile App, allowing Horizon Bank’s Loan Officers to manage applications or engage with new leads while on-the-go.

A Leader in Mortgage Origination Technology

Blend has over 12 years of experience building leading mortgage and consumer lending solutions for hundreds of financial institutions, including 35 of the nation’s top 100 banks by AUM and 13 of the nation’s top 30 mortgage originators by lending volumes. Over 20% of the nation’s total mortgage origination volume share is being processed through Blend’s platform.

“We at Blend are committed to empowering financial institutions with the most digitally advanced tools they need to excel in today’s competitive market," said Nima Ghamsari, Co-Founder and Head of Blend. "We look forward to collaborating with the Horizon Bank team to make the goal of homeownership as simple, fast, and streamlined as possible for their customers.”

Based on an independent 2023 impact analysis conducted with Blend’s mortgage customers, Blend’s Mortgage Suite eliminates an average of 8 days from the overall loan cycle time, from processing to closing, resulting in $914 in average cost savings per loan.

To learn more about Blend’s Mortgage Suite, visit blend.com/products/mortgage-suite.

About Blend

Blend (NYSE: BLND) is the infrastructure powering the future of banking. Financial providers— from large banks, fintechs, and credit unions to community and independent mortgage banks—use Blend’s platform to transform banking experiences for their customers. Blend powers billions of dollars in financial transactions every day. To learn more, visit blend.com.

About Horizon Bancorp, Inc.

Horizon Bancorp, Inc. (NASDAQ GS: HBNC) is the nearly 8 billion–asset bank holding company for Horizon Bank, which serves customers across attractive Midwestern markets through convenient digital tools, as well as its Indiana and Michigan branches. Horizon's retail offerings include prime residential, indirect auto, and other secured consumer lending, as well as a range of personal banking and wealth management solutions. Horizon also provides a comprehensive array of in–market business banking and treasury management services, as well as equipment financing solutions for customers regionally and nationally, with commercial lending representing over half of total loans. More information on Horizon, headquartered in Northwest Indiana's Michigan City, is available at horizonbank.com.

Forward-Looking Disclaimer

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