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Blend's Digital Lending Platform is used by M&T Bank, Wells Fargo, U.S. Bank, and 250+ other financial services companies. Founded in 2012, the company helps these banks process more than $3.5 billion in mortgages and consumer loans each day.

Blend matches users who want to borrow against their non-fungible collateral with whatever lender is willing to offer the most competitive rate, using a sophisticated off-chain offer protocol. By default, Blend loans have fixed rates and never expire.

What is the Blend NFT Lending Protocol? 'Blend' is a compound of 'Blur Lending,' and represents a P2P perpetual NFT lending protocol on the Blur ecosystem that allows users to borrow ETH with NFTs as collateral.

Blend automatically ?rolls a borrowing position for as long as some lender is willing to lend that amount against the collateral,? and on-chain transactions are only required if someone decides to exit the position or if there is a change in interest rate. Borrowers can repay their loan at any time.

While Blend has been expanding into the consumer lending space since 2019, the majority of its revenue remains tied to the mortgage business. And Blend's goal to become a platform-as-a-service company is still in its early stages, analysts and industry observers said in an interview with HousingWire.

A blended mortgage is a type of mortgage refinancing that lets you blend your existing mortgage rate with the rates currently being offered by your mortgage lender. You're able to partially get today's new rates without having to pay any mortgage penalties for refinancing your mortgage early.

For example, let's say you have a fixed-rate mortgage at 3.5% and you still have three years left remaining on a five-year term. Now, let's assume current fixed mortgage rates are around 2%. If you were to blend and extend your mortgage, you'd get a rate somewhere in-between the two rates, so around 2.79%.