Blend Labs, Inc. 415 Kearny Street, San Francisco, CA 94108

Release Notes October 12th, 2021

For this release, we anticipate the following introductions in your environments.

Major features are documented in the Blend Knowledge Base accessible at https://help.blend.com/ If that resource does not answer your question, please reach out to Blend Support support@blend.com Maintenance Announcements Updates (1)

o (NEW) TLS Termination Maintenance

Announcements Updates (7)

o (UPDATE) Lender Document Upload UI Updates o Let’s Encrypt Certificate Expiration o Backend change - Borrower Document Upload Sharing Permission Changes– 10/14 prod release o UI updates to Loan Hub – 8/31 beta release; TBD prod release o (UPDATE) For Encompass LOS customers: NextGen Integration Announcements o Disclosures Feature Releases o Blend Public API v2.X.X has been marked for deprecation – November 30th

Preview Environments (Test/Dev/Beta) Updates (5)

o (NEW) Disable "Back" button when entering income data into borrower application – 10/12 beta release; 10/19 prod release

o (NEW) Consolidated Consumer Report Consent – 10/12 beta release; 11/9 prod release o Blend Income Verification now available – 10/1 beta release; 10/29 prod release o Lender workspace pipeline has been updated with Archived loan support and additional parameters to

filter – 9/28 beta release; 10/26 prod release o Loan products applied from loan scenarios will now automatically refresh. – 9/28 beta release; 10/26

prod release

Production Environments (Prod) Updates (0)

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Maintenance Announcements Updates (2):

1. (NEW) TLS Termination Maintenance Starting this week, we will be performing a scheduled maintenance to our Transport Layer Security (TLS) termination infrastructure to enable greater scalability. This maintenance does not change Blend functionality and has no expected impact. However, if you or any of your customers experience TLS/SSL issues with older web browsers, please reach out to Blend Support. This maintenance will start with Early Access environments this week. Production environments will follow, starting the week of October 18.

2. Blend will be updating our Kubernetes clusters from version 1.19 to 1.20. This will ensure our infrastructure stays up to date for all our customers. No interruption to Blend services is expected.

When: Beta: 2 hours maximum, October 20th, 12 AM - 2AM PDT Prod: 2 hours maximum, October 27th, 12 AM - 2AM PDT

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Announcements Updates (7):

1. (UPDATE) Lender Document Upload UI Updates

In a recent release, we announced updates titled “Lender Document Upload UI Updates” which included the ability to edit documents. Clicking “Edit” in the row-level actions surfaces a modal that allows loan teams to edit file names and share with borrowers.

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After further testing and feedback, we will revert to the old documents' actions and only allow Share with Borrowers instead. All other updates as part of that release will remain the same. This change will take effect next week. For reference, below is how the product will appear. The new state will replace the Edit option from the row-level actions with “Share with borrower(s)”.

2. Let’s Encrypt Certificate Expiration

A certificate used by Let’s Encrypt expired at 7:01am Pacific on September 30, 2021. This expired certificate may cause TLS requests from some web browsers and software integrations to fail due to validation errors.

• From the Let’s Encrypt announcement: “If you run a typical website, you won’t notice a difference — the vast majority of your visitors will still accept your Let’s Encrypt certificate.”

• This will potentially impact connections to hostnames that use Let’s Encrypt certificates, both for Blend services and for customer-managed domain names.

• Modern devices running recently updated web browsers are not expected to encounter validation errors.

• Customer integrations with https://api.blend.com/ are not expected to encounter validation errors. The certificate for this domain is managed by DigiCert, not Let’s Encrypt.

• For software using older CA bundles, it may be necessary to install the new (issued in 2015) Let’s Encrypt self-signed root, which can be found at https://letsencrypt.org/certs/isrgrootx1.pem. See https://letsencrypt.org/certificates/ and https://letsencrypt.org/docs/certificate-compatibility/ for more details.

• You may not see impact until Blend re-issues your certificate, which happens at the expiration of the current one, and this date is different for every Blend client. We would advise extra vigilance around API call failures or TLS negotiation failures.

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3. Backend change - Borrower Document Upload Sharing Permission Changes– 10/14 prod release Purpose of Update and Benefit Backend updates will be made to some document type sharing permissions for borrower uploaded documents requested via follow-ups within the next two weeks. This change is being made to further limit sharing of certain document types.

Current Behavior Documents requested via follow-ups and uploaded by borrowers are shared with other parties in the loan based on the document type classification they are assigned and the sharing settings selected by borrowers during the application flow. Currently, most documents uploaded by non-sharing borrowers are not accessible to other parties on the loan, but additional document types can be restricted without impacting the loan origination process. New Behavior Documents uploaded by borrowers will not be shared with other parties on the loan, including co-borrowers and third-party recipients unless sharing of the document is necessary to originate the loan. If you have any questions about this behavior change, please reach out to your Customer Success Manager.

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4. UI updates to Loan Hub – 8/31 beta release; TBD prod release The UI updates to Loan Hub scheduled to be released in production on 9/28 has been postponed for further testing. Please feel free to test the release in your beta environment. Purpose of Update and Benefit The borrower Loan Hub has been updated to include more details about the borrower’s loan information. This allows the borrower to see insights about their loan without having to go into the application. New Behavior Loan details have been added to the borrower Loan Hub. Depending on the loan type, details will include purchase price, down payment, and loan amount. A detailed table of what a borrower can expect to see by loan type can be viewed below.

Loan Type Details

Purchase • Purchase price • Down payment • Loan amount

Refinance • Property value • Loan amount

Construction • Property appraisal value • Loan amount • Down payment • Cost of lot

As a note: the icon for the loan section will only show up when there is a photo for the contact otherwise it will be hidden.

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5. (UPDATE) For Encompass LOS customers: NextGen Integration Announcements The following fields have had their mappings added or updated via the NextGen loan export mapping:

Description Field Available in beta

Available in prod

Refinance Purpose - if Limited cash out is selected in Blend, changed the mapping on 3 fields

Field 19: “No Cash-Out Refinance” Field 299: “No Cash-Out Rate/Term” Urla.x165: Limited cash out

9/28 10/19

Blend Income IDs passed to Encompass

GSEVENDOR.X37 GSEVENDOR.X38 GSEVENDOR.X43 GSEVENDOR.X44

10/2 10/6

Construction Loan - Outstanding Lien on Lot Populates as Mortgage Liability Instead of Other Liability

Account type section within the VOL (i.e. FLXX08)

10/5 10/12

Co-borrower credit authorization method no longer fills when there is no sharing co-borrower

4078 10/7 10/19

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6. Disclosures Feature Releases

The production rollout for the disclosures updates will resume again next Tuesday, October 12th. All these features have been live in tenant beta environments for the past two months. Group 1 → Release in Production 10/12 : AR, CT, IA, KS, LA, MD, MN, NC, ND, NE, NJ, NV, OR Group 2→ Release in Production 10/19: AL, ID, IN, KY, MA, MO, NY, OH, OK, PA, SC, TN, TX, WI Group 3 → Release in Production 10/26: AZ, CA, CO, FL, GA, IL, MI, RI, UT, VA, WA, All MACE Integration Lenders, Tenants using lending doc templates The email copy, date/time stamp, Disclosures tab and tracking, as well as the configurability of email notifications will apply to all customers; this includes integrations with SSO patterns (Wolters Kluwer eSign, Docutech Solex, DocMagic eSign, and Black Knight Expedite) and non-SSO customers. The new document viewer for disclosures only applies to clients with disclosures integrations that use the embedded Blend Sign solution. We encourage clients using Encompass to focus on testing packages that include any custom Encompass documents within a eDisclosures or Pre-Closing stacking template. For more information, please review the following document: https://view.highspot.com/viewer/611ab90ba2e3a9274f2a43fd

7. Blend Public API v2.X.X has been marked for deprecation

Blend Public API v2.X.X has been marked for deprecation with a November 30th, 2021 deadline. This includes disclosures APIs. For Blend managed integrations (including Docutech, DocMagic, Wolters Kluwer eSign, Black Knight Expedite, Mace and KensieMae users) no action is required. For all external “custom” disclosures integrations, we highly encourage upgrading to 4.3.0 or above by November 30th, 2021.

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Preview Environments (Test/Dev/Beta) Updates (5):

1. (NEW) Disable "Back" button when entering income data into borrower application – 10/12 beta release;

10/19 prod release Purpose of Update and Benefit This update replaces the “Back” button with a “Cancel” button when entering income data. The Cancel button is more visible to borrowers going through the application and allows borrowers to exit out of the income flow with one click. Current Behavior When entering income information, the only way to exit from the workflow was to click the “Back” button in the top left corner. It was easily overlooked by borrowers going through the application. It also backed up by just one screen, meaning borrowers needed to click this button multiple times to return to the starting screen.

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New Behavior The “Back” button has been removed. Instead, we have a “Cancel” button that now appears below the “Add Income” button. When clicked, the borrower is taken back to the initial income screen.

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2. (NEW) Consolidated Consumer Report Consent – 10/12 beta release; 11/9 prod release Purpose of Update and Benefit For Blend Income customers only, we are consolidating consent to pull consumer report information into a single credit and consumer report consent.

Current Behavior Currently when Blend Income is ON, we show a hyperlink stating Income Data Authorization.

New Behavior For customers who have both Blend Income AND Credit enabled, the hyperlink will say “Credit and Consumer Report Consent.”

For customers who only have Blend Income enabled, the hyperlink will say “Consumer Report Consent.” Clicking these links will show a modal with the full terms of the consent. You can review these terms in the Blend Income Verification Product Guide: https://view.highspot.com/viewer/6155faf5b5093c1de614a5ea On the lender-side, the loan team will see a new section in the application view titled “Other consumer report consent” where they can indicate that they’ve received borrower consent.

The consumer report consent will be reflected in the Compliance Report.

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3. Blend Income Verification now available – 10/1 beta release; 10/29 prod release

Purpose of Update and Benefit With multiple data providers, Blend is able to provide a fully integrated single solution for lenders with greater coverage and a consistent experience at a competitive price. Blend Income has leveraged an array of strategies to verify income and employment. The idea is to reduce consumer friction during the verification process and allow the process to become more self-serviceable. Product Overview Instant Lookup Workflow After entering SSN and Date of Birth in the Getting to Know You section, Blend Income will attempt to locate the borrower’s employment and income data. If there is a match, the Income section will pre-fill with the verified income and employment information. Borrowers will be able to review the information retrieved by Blend Income and remove any employment information that they do not wish to include on the application, as illustrated in the image below.

Upon clicking “Agree and proceed,” borrowers are later given the opportunity to edit any employment and/or income information that they believe is not up to date or accurate. These changes are not reflected in the Blend Income Report, but are exported as part of the 1003. This allows lenders to compare the attested borrower employment and income information to the 3rd party sourced employment information. After agreeing, borrowers will go onto the next screen that shows a high-level overview of the income and employment.

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This page allows borrowers to make and save changes, or remove the employer entirely. Borrowers can also add more income if they have additional income. Login-Based Provider Workflow If Instant Verification fails to locate employer and income data, Blend Income will attempt to gather income and employment data through our login-based provider service. Login-based providers allow borrowers to search for and log in to their providers’ payroll services in order to populate the employment and income data. For more information and screenshots, please refer to https://view.highspot.com/viewer/6155faf5b5093c1de614a5ea Blend Income is a separate offering from Blend Mortgage. Please reach out to your Blend account team for more information.

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4. Lender workspace pipeline has been updated with additional parameters to filter – 9/28 beta release; 10/26 prod release Purpose of Update and Benefit The lender workspace pipeline will now give users the ability to view their archived loans and includes filter support on additional fields. These enhancements make it easier for users to find and focus on the loans that they are interested in. This pipeline update applies across both mortgage and consumer banking workspaces. Current Behavior The previous lender workspace supported filtering on Last activity, Assigned to, Application status, and Application source.

New Behavior The new “Archived” Tab will let users quickly view all archived loans and “Unarchive” as needed.

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Below is a list of new fields available for pipeline filtering. Filtering is managed at the individual account level and not at the tenant level.

• Loan Purpose • Loan Type • LOS Milestone • Last Activity • Loan Originator • Application Status • Application Setup Status • Application Started • AO Status • Assigned To • Branch ID • Source Type • Closing Date • eSign Package • Closing Type • Order status

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5. Loan products applied from loan scenarios will now automatically refresh. – 9/28 beta release; 10/26 prod release

Purpose of Update and Benefit The loan scenarios tool allows loan officers to select and save multiple loan products to an application. If a loan officer applies a loan scenario to the loan, the product is now refreshed before it is applied to the loan. This new feature ensures that loan officers are not applying stale rates to their loans. Current Behavior When users apply a loan scenario to the loan as the selected product, the product is not refreshed before it is applied. As such, if the scenarios are over 25 minutes old, they will not apply successfully. New Behavior When loan officers apply a loan scenario to the loan, the product will now refresh automatically. This will take a little more time to complete as the product is being searched again. If lenders do not wish to have their loan scenarios refreshed immediately, they can configure a lag time for the scenarios to update. For example, if the lag time is set at 3 minutes, scenarios will only be refreshed when applied to the loan if they are over 3 minutes old. This can shorten the amount of time it takes for a new scenario to be applied to the loan.