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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.

Mortgage 402
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Rocket’s Varun Krishna appointed to newly created board position

Housing Wire

Krishna will serve “for a term expiring at the company’s 2026 annual meeting of stockholders and until his successor is elected and qualified, subject to his earlier death, resignation, retirement, disqualification or removal.”

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

Housing Wire

Mortgage tech firm Blend Labs continued to narrow its financial losses in the third quarter, driven by strong growth in its consumer banking business. 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.

Investors 364
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With strategic plan, FHFA charts new course

Housing Wire

The conservator of Fannie Mae and Freddie Mac on Wednesday laid out three broad strategic goals for 2022 to 2026: safety and soundness, equitable access to affordable and sustainable housing, and responsibly managing FHFA’s infrastructure. Now, more than a month later, a spokesperson for FHFA could still not provide a timeframe for the plans.