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As mortgage biz suffers, Blend sees unified banking platform as the key to growth

Housing Wire

To reach a key financial goal in 2026, Blend Labs plans to diversify far beyond mortgage. On Tuesday, executives from the San Francisco, California-headquartered mortgage tech firm, which has yet to post a profit since going public in July 2021, shared the firm’s vision for growth during its first investor day. million in Q2 2022.

Mortgage 359
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What lies ahead

Housing Wire

This market has transformed in recent years, offering travelers a range of unique experiences while providing property owners with an appealing stream of income. By 2015, the market had burgeoned to a staggering $85 billion, surpassing the combined room count of the four largest hotel chains globally. million by 2026.

Investors 348
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Blend narrows loss to $21M in Q3, reaffirms path to profitability in 2024

Housing Wire

Its mortgage business outperformed the broader origination market and the company reduced cash burn, putting the firm on track to its goal of reaching non-GAAP profitability by next year. million in revenues in Q3, within the range of $40 million to $42 million provided during its investor day in September. million year over year.

Investors 314
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The Fed pauses its rate hikes for now, will it last?

Housing Wire

The Federal Open Markets Committee paused its interest-rate hikes on Wednesday for the second time this year. Most investors are already wondering what it would take for the central bank to lift rates again later this year. Today’s decision not to raise rates will likely influence credit markets. However, only 70.9%