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SAN FRANCISCO - Blend Labs, Inc. (NYSE:BLND), a fintech company with a market capitalization of $918 million that according to InvestingPro maintains a strong balance sheet with more cash than debt, and Doma Technology, LLC announced Wednesday an expanded partnership that integrates Doma’s AI-powered instant title decisioning into Blend’s home lending platform.
The collaboration embeds Doma’s Upfront Title solution into Blend’s Mortgage and Rapid Home Lending products, creating a digital end-to-end title and closing process. According to the companies’ joint press release, the integration aims to accelerate closing times and potentially save borrowers between 40% and 70% on title insurance costs compared to traditional rates. This strategic move comes as Blend maintains a healthy gross profit margin of 57% and a strong liquidity position with a current ratio of 2.4, according to InvestingPro data.
The partnership follows Blend’s recent agreement to sell its title insurance business to focus on software-driven solutions through partnerships rather than direct operations.
"This partnership with Doma reinforces our core focus: delivering innovative, software-driven solutions that create real value for our customers," said Nima Ghamsari, co-founder and Head of Blend.
Mr. Cooper, an early adopter of the integrated solution, reported a three-day reduction in overall loan cycle time and savings of several hundred dollars per closed loan on title fees for borrowers.
The Upfront Title solution is currently available to all Blend customers with a Doma relationship, with broader enhancements planned for the second half of 2025.
The companies stated that the integration allows lenders to identify potential title issues earlier in the process, which can help speed up approvals, reduce fallouts, and minimize manual work.
In other recent news, Blend Labs, Inc. has been active with several developments. The company announced the acquisition of Title365 by Covius Services, LLC, which will enhance Covius’ title insurance services. This acquisition is pending regulatory approvals and is expected to close in the coming months. Additionally, Blend Labs has appointed Reva Rao as Head of Digital Transformation for Credit Unions, aiming to improve its offerings to these institutions. In terms of analyst activity, Citizens JMP has maintained its Market Outperform rating and a $7.00 price target for Blend Labs, reflecting confidence in the company’s potential despite a recent decline in stock performance. Furthermore, Keefe, Bruyette & Woods (KBW) raised Blend Labs’ price target to $4.00, citing a more positive outlook on the company’s performance and future prospects. KBW noted that Blend Labs’ non-GAAP operating income exceeded expectations due to reduced operating expenses. JMP analysts also reiterated their Market Outperform rating with a $7.00 price target, projecting significant revenue growth for Blend Labs in the coming years. These developments highlight Blend Labs’ strategic focus and growth potential in the financial services sector.
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