PHH Mortgage Enters Partnership With Blend To Enhance Refinance And Home Equity Experiences For Borrowers

Partnership brings speed, personalization, and automation to home lending

PHH Mortgage, one of the largest mortgage servicers in the U.S., and a subsidiary of Onity Group Inc. (NYSE:ONIT), is expanding its partnership with Blend Labs, Inc. (NYSE:BLND) to deliver faster, more seamless refinance and home equity experiences for borrowers.

PHH Mortgage has expanded its use of Blend's technology platform, already powering its mortgage lending operations, to now include Rapid Refi and Rapid Home Equity. As part of its ongoing digital transformation, the move will help PHH meet rising borrower expectations and deepen relationships across the homeownership journey, from mortgage origination to refinancing and home equity lending.

Both refinance and home equity are particularly important opportunities for loan servicers in today's market.

"Many homeowners today are still paying elevated mortgage rates or sitting on untapped home equity," said Colin Friday, Senior Vice President of Consumer Lending at PHH Mortgage. "As interest rates shift, many of these borrowers are actively exploring ways to improve their financial position—whether refinancing to lower monthly payments or using equity for major expenses. Blend's Rapid Home Lending suite helps us meet them in those key moments with a fast, intuitive experience that reduces fallout and builds lasting loyalty."

With Blend's digital banking platform at the core, the Rapid suite of solutions are designed for speed, personalization, and efficiency, helping PHH to streamline operations and stay ahead of the next wave of lending demand. Together, they unlock new capabilities that will enable PHH to:

• Increase automation and operational efficiency across loan teams through deep data connectivity that pre-fills borrower information and eliminates manual steps—turning a traditionally tedious process into a seamless digital experience.
• Improve ease of use for borrowers by surfacing personalized, pre-qualified offers at the start of the journey—so customers know exactly what options are available without having to dig.
• Strengthen customer retention and recapture by meeting borrower expectations for speed and simplicity, reducing fallout, and reinforcing PHH's role as a trusted financial partner in every stage of homeownership.

"PHH Mortgage's adoption of Rapid Refi and Rapid Home Equity reflects the growing momentum among top-tier servicers who are prioritizing retention and digital transformation," said Nima Ghamsari, co-founder and CEO of Blend. "This moment in the industry marks a fundamental shift. Servicers are no longer just managing loans, they're investing in long-term customer relationships. And in today's market, speed matters more than ever. Borrowers are rate shopping in real time, and lenders have only minutes, not days, to engage them. The institutions that move fast and deliver seamless, personalized experiences will be the ones that win."