Sells banks, credit unions and mortgage lenders white-labeled origination software on per-transaction fees, and since 2026 has been adding AI agents (Autopilot) that review documents and prepare files before underwriting while leaving credit decisions to lenders.
What is Blend, and which banks use it?
Blend Labs (NYSE: BLND) is a public company, founded in 2012 and based in Novato, California, whose software runs digital applications for mortgages, home equity, consumer loans and deposit accounts; its Autopilot AI agent reviews borrower documents before underwriting. Among our 100 banks, Frost, Huntington and BMO use Blend, per Blend's own releases and case studies. Pricing is not published; Blend charges fees per completed transaction, such as a funded loan or opened account.
Category
Founded
2012
Headquarters
Novato, California, US
Ownership
Listed on the NYSE since July 16, 2021 (BLND); co-founder Nima Ghamsari holds all Class B shares (40 votes each), and Haveli holds Series A preferred stock bought for $150 million in April 2024.[1]
Deployment
SaaS, hosted in third-party data centers; white-labeled consumer, loan-officer and banker workspaces with open APIs and LOS, core and CRM integrations
Pricing
Success-based SaaS fees per completed transaction (funded loan, new account opening, closing or API call); fixed-fee unlimited-access options in the Consumer Banking suite; revenue shares from partners such as verification and insurance providers · not published
Banks among the 100
3
- Blend reported 2025 revenue of $123.6 million, up 7%, with Consumer Banking Suite revenue up 34% and Mortgage Suite revenue down 6%; second-quarter 2026 revenue was $33.8 million, up 7%.
- Blend's 10-K describes 'Success-Based Pricing': fees per completed transaction such as a funded loan, new account opening or closing, no charge for abandoned or rejected applications, fixed-fee options in consumer banking, and revenue shares from partners.
- Blend has not been profitable: its accumulated deficit was $1,391.8 million at December 31, 2025, and it reported material weaknesses in internal control over revenue data flows that were still unremediated at June 30, 2026.
- Blend exited title insurance, completing the sale of its title business (built on the 2021 Title365 acquisition) to Covius Services in March 2026; it had 419 employees at the end of 2025 after several workforce reductions since 2022.
- Autopilot, launched in March 2026 and commercially available from July 1, 2026, had processed more than 50,000 live loans by August 2026; Blend reports 10-15% higher pull-through and an estimated $600 lower fulfillment cost per funded loan (vendor-reported).
- Frost Bank, lending on Blend since 2020, moved deposit account opening to Blend and reported 60% more completed applications and manual review cut from 15% to 3% (per Blend's August 2026 release).
- Blend says its platform handles $1.3 trillion in loan applications a year, including one in six US mortgages (vendor-reported, August 2026).
What does Blend sell to banks?
| Product | What it does | Status |
|---|---|---|
| Mortgage Suite (Mortgage, Home Equity, Rapid Home Lending, Close)[1] | End-to-end digital mortgage and home equity applications, streamlined refinance and home equity journeys, and traditional, hybrid and fully digital closing. | Generally available |
| Consumer Banking Suite (deposit accounts, credit cards, personal and vehicle loans)[1] | Digital account opening and consumer loan applications with identity verification, pre-approvals and automated adverse-action notices. | Generally available |
| Blend Builder[1] | Low-code design tools, drag-and-drop process orchestration and modular components used to assemble products and bespoke workflows; powers most Consumer Banking products. | Generally available |
| Autopilot[7][11] | A non-decisioning AI agent that parses borrower documents, checks them against GSE and lender guidelines, updates application fields and sends follow-ups in as little as 15 seconds; commercially available since July 1, 2026 for Blend Home Lending. | Generally available |
| Autopilot MCP server[8] | A Model Context Protocol server that gives lender-built and partner-built AI agents authorized access to Blend's origination platform, including credit, pricing, compliance and disclosures. | Generally available |
How much does Blend cost?
How it is charged: Success-based SaaS fees per completed transaction (funded loan, new account opening, closing or API call); fixed-fee unlimited-access options in the Consumer Banking suite; revenue shares from partners such as verification and insurance providers.
Blend does not publish a price list.
Pricing is not published; Blend's 10-K describes per-transaction, success-based fees but discloses no per-unit price. Autopilot was free to activate during its March-June 2026 preview; its price since commercial launch is not published.
Which banks use Blend?
| Bank | What | Status |
|---|---|---|
| Cullen/Frost Bankers | Digital home equity, mortgage and consumer loan applications since 2020, and deposit account opening; Frost reported account opening completion rising from 50% to 80% (Blend release).[10][12] | In production |
| Huntington Bancshares | A multi-line consumer banking digital platform on Blend; Blend gave Huntington's consumer banking digital director its 2026 Digital Experience Excellence award.[12] | In production |
| BMO (U.S.) | Mortgage, home equity, Blend Close and personal lending at BMO Bank (Chicago), with a direct integration between Blend and its loan origination system; Blend reports a 53% year-over-year rise in digital home equity applications.[6][12] | In production |
Among the 100 largest US banks on this site, from sources that name the bank: the bank, Blend or the press. Status is the furthest stage a source confirms.
What is Blend Platform with Intelligent Origination (Autopilot)?
Mortgage, home equity, vehicle, credit card, personal loan and deposit account journeys built on Blend Builder's workflow engine; Intelligent Origination embeds AI in the platform, starting with Autopilot, a non-decisioning agent that reviews documents and application data, checks them against guidelines and generates follow-ups.[1][7]
What has Blend done, and when?
- Aug 27, 2026
Best in Banking awards name Huntington, BMO and Frost[12]
Blend's customer awards recognized teams at Huntington, BMO and Frost, and Onity Mortgage as an early production user of Autopilot.
- Aug 20, 2026
Autopilot early production results[11]
Blend reported more than 50,000 live loans processed, 10-15% higher pull-through and 2-4 days shorter loan cycles across 24 lender cohorts, with six lenders under contract for Autopilot.
- Aug 18, 2026
Frost Bank deposit account opening results[10]
Blend said Frost's digital account application completions rose 60% and manual review fell from 15% to 3% after moving deposit account opening to Blend.
- Jul 1, 2026
- May 4, 2026
Launches Autopilot MCP server[8]
Lender- and partner-built AI agents can access Blend's origination platform through a Model Context Protocol server.
- Mar 16, 2026
Completes sale of title business[1]
Blend disclosed in its 10-K that it had completed the sale of substantially all assets and liabilities of its title insurance business to Covius Services in March 2026, after deciding to exit title in early 2025.
- Mar 10, 2026
Authorizes $50 million share buyback[4]
Blend's board authorized repurchases of up to $50 million of Class A common stock.
- Mar 3, 2026
Launches Autopilot[7]
The first agent of Blend Intelligent Origination reviews documents and application data in real time and leaves credit decisions to underwriters; it was free to activate for Blend customers during a preview.
- Jan 6, 2026
Matt Thomson joins as Head of Revenue[3]
Blend announced the hire in a Form 8-K.
- Apr 29, 2024
$150 million preferred investment from Haveli[1]
Blend issued 150,000 shares of Series A preferred stock to Haveli for $150 million, giving Haveli a board designation right.
- Jul 16, 2021
Lists on the NYSE[1]
Blend's Class A common stock began trading on the New York Stock Exchange under the symbol BLND.
- Jul 1, 2021
Acquires Title365[1]
Blend closed the acquisition of a 90.1% stake in Title365, financed partly with a $225 million term loan.
- Jan 1, 2012
What do banks use Blend for?
| Use | What it does | Status | Use case |
|---|---|---|---|
| Pre-underwriting document review (Autopilot)[7][11] | Autopilot checks borrower documents and application data against GSE and lender guidelines and requests missing items before underwriting; credit decisions stay with underwriters and automated underwriting systems. | In production | Credit scoring & underwriting |
| Digital deposit account opening with identity verification[1][10] | Account opening with identity-verification integrations and features supporting BSA/AML policies; Frost reports manual review falling from 15% to 3%. | In production | AML / KYC |
| Automated adverse-action notices[1] | Blend's decisioning components generate adverse-action notifications for applicants who do not meet the lender's credit criteria. | In production | Fair lending & discrimination |
| Lender-built agents on Blend (MCP)[8][9][12] | Lenders build their own agents, such as a voice agent chasing outstanding documents or AI customer service, on Blend's MCP server. | Rolling out | Generative & agentic AI |
What has Blend disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Revenue, 2025 | $123.6 million, up 7% (Mortgage Suite $69.2 million, Consumer Banking Suite $45.2 million)[1] | Dec 31, 2025 |
| Revenue, Q2 2026 | $33.8 million, up 7% year over year[2] | Jun 30, 2026 |
| Accumulated deficit | $1,391.8 million[1] | Dec 31, 2025 |
| Employees | 419[1] | Dec 31, 2025 |
| Loan applications processed on the platform (company-reported) | Nearly $1.3 trillion in 2025; one in six US mortgages[1][12] | Aug 27, 2026 |
| Autopilot early results (vendor-reported) | 50,000+ live loans; 10-15% higher pull-through; about $600 lower fulfillment cost per funded loan[11] | Aug 20, 2026 |
“Autopilot has run on more than 50,000 live production loans, and the economics are already changing.”[11]
Nima Ghamsari · Co-founder and Head of Blend · Aug 20, 2026
“Blend gives us confidence that we can continue to drive new customers to the online channel because we know they will have a great experience.”[10]
Brad Bremer · SVP of Consumer Deposit Products, Frost Bank · Aug 18, 2026
Who runs Blend?
Which rules apply to a bank using Blend?
| Authority | Why it matters here | Documents |
|---|---|---|
| CFPB | Blend's decisioning components generate adverse-action notices for a lender's declined applicants, so the lender remains responsible under ECOA/Regulation B for the reasons given being specific and accurate, including when it relies on the CFPB's sample forms (Circular 2023-03). | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) CFPB Circular 2023-03 |
| OCC | National banks running mortgage, deposit and consumer-loan applications on Blend depend on it for customer-facing origination, a critical third-party relationship under OCC Bulletin 2023-17; Autopilot's guideline checks bring vendor models into scope of OCC Bulletin 2026-13. | OCC Bulletin 2023-17 OCC Bulletin 2026-13 |
| Federal Reserve | State member banks using Autopilot to review income and asset documents before underwriting should validate and monitor that vendor AI under SR 26-2 even though Blend describes it as non-decisioning, and manage Blend under SR 23-4. | SR 26-2 SR 23-4 |
| FDIC | State non-member banks and savings institutions using Blend for account opening and lending fall under the interagency third-party guidance issued as FDIC FIL-29-2023; Blend's own disclosure of material weaknesses in revenue controls is a due-diligence point. | FDIC FIL-29-2023 |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness.
What should a bank note before buying Blend?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice or a recommendation.
01
Pricing is not published, but the model is disclosed
Blend's 10-K says it charges per completed transaction (funded loan, opened account, closing or API call) and not for abandoned or rejected applications; no per-unit prices are public.
02
Financial filings show losses and control weaknesses
Blend reported an accumulated deficit of $1,391.8 million at the end of 2025 and material weaknesses in internal control over revenue data that remained at June 30, 2026, which buyers can weigh in vendor due diligence.
03
Autopilot results are Blend's own
The 10-15% pull-through gain and $600 cost saving per funded loan come from Blend's comparison of 24 lender cohorts against their own prior performance; no customer has published independent figures.
04
Bank-customer evidence comes from Blend
Frost, Huntington and BMO are named in Blend's releases, awards and case studies; none of the three banks' own filings or releases reviewed here describes the relationship.
05
The business has narrowed
Blend exited title insurance in 2025-2026 and cut its workforce several times since 2022, while Consumer Banking revenue grew 34% in 2025 as Mortgage Suite revenue fell 6%.
What are the alternatives to Blend?
Ocrolus
Classifies, extracts and checks lending documents (bank statements, pay stubs, tax forms) and returns cash-flow and income analytics.
Snapdocs
Digital mortgage closing platform (eClosing, eVault, notary network) with AI quality control of closing and funding documents.
Abrigo
Lending, loan review, CECL and AML software for US community and regional banks, with generative and agentic AI assistants added since 2025.
Covecta
Agentic AI for banks and lenders: pre-built agents that read documents, draft credit memos and run loan and deposit operations checks.
How much does Blend cost?
Blend does not publish prices. Its 10-K describes 'Success-Based Pricing': software-as-a-service fees charged per completed transaction, such as a funded loan, a new account opening, a closing or an API call, with no charge for abandoned or rejected applications, plus fixed-fee unlimited-access options in consumer banking. Autopilot was free during its 2026 preview; its current price is not published.
Which banks use Blend?
Among the 100 largest US banks we track, Blend names Frost (lending since 2020 and deposit account opening), Huntington (a multi-line consumer digital platform) and BMO (mortgage, home equity, closing and personal lending) as customers, in its 2024-2026 case studies, releases and customer awards. Blend says hundreds of banks, credit unions, independent mortgage banks and servicers use its platform.
Who owns Blend?
Blend Labs is listed on the New York Stock Exchange (BLND) since July 2021. Co-founder Nima Ghamsari, Head of Blend and board chair, holds all of its Class B shares, which carry 40 votes each, and investment firm Haveli holds Series A preferred stock it bought for $150 million in April 2024.
What is Blend Autopilot?
Autopilot is Blend's AI agent for lending. It reviews borrower documents and application data as they arrive, checks them against GSE and lender guidelines, updates fields and sends borrowers follow-up requests, but does not make credit decisions. Launched in March 2026 and commercially available since July 1, 2026, it had run on more than 50,000 live loans by August 2026, per Blend.
Is Blend profitable?
Not on a cumulative basis. Blend reported 2025 revenue of $123.6 million and an accumulated deficit of $1,391.8 million at December 31, 2025, and says it may not achieve or maintain profitability. It also disclosed material weaknesses in internal control over financial reporting that were not remediated as of June 30, 2026.
Blend vs Snapdocs: what is the difference?
Blend runs the borrower application and origination workflow across mortgage, home equity, consumer loans and deposits, and adds closing products, charging per completed transaction. Snapdocs specializes in the mortgage closing itself: eSign, hybrid and remote notarization closings, eNote vaulting, a notary and settlement network and AI checks of closing documents.
- Blend Labs, Inc. Form 10-K for the fiscal year ended December 31, 2025
- Blend Labs, Inc. Form 10-Q for the quarter ended June 30, 2026
- Blend Labs, Inc. Form 8-K (Matt Thomson joins as Head of Revenue)
- Blend Labs, Inc. Form 8-K (preliminary 2025 results and $50 million share repurchase authorization)
- Blend Labs, Inc. Form 8-K (appointment of Head of Accounting)
- BMO Harris Bank's solution for growth through omnichannel lending - Case study | Blend (undated page, retrieved 2026-09-24)
- Blend Launches Autopilot, Completing Loan Origination Reviews in 15 Seconds
- Blend Launches Autopilot MCP Server, Opening Its Lending Platform to FI-Built AI Agents
- Autopilot Enters Its Next Chapter
- Frost Bank Teams with Blend to Speed Up Account Opening and Boost Completion Rates by 60%
- Early Production Results for Blend's Autopilot Show What Agentic AI Means For Lending
- Blend Honors Seven Customers With Best in Banking Awards at Forum 2026
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