Blend Taps Former Fannie Mae CEO Tim Mayopoulos as President

SAN FRANCISCO, Jan. 22, 2019 /PRNewswire/ -- Blend, a Silicon Valley technology company propelling the consumer lending industry into the digital age, today announced several key executive hires that will improve the company's ability to scale quickly, including Tim Mayopoulos, former CEO of mortgage finance giant Fannie Mae, as president. Reporting to CEO Nima Ghamsari, Mayopoulos will lead Blend's go to market and corporate support functions, as well as join the company's board of directors.

"Tim Mayopoulos is a terrific leader who will help us provide exceptional value to our growing customer base as we scale," said Ghamsari. "I've collaborated closely with Tim for over four years, and he believes strongly in technology's potential to bring simplicity, transparency and accessibility to the broader consumer finance ecosystem. His deep expertise and passion for transforming consumer lending make him a great fit for our team."

"I'm thrilled to join Blend at a critical point in its growth trajectory and look forward to helping the company continue to drive positive change in consumer finance in the years to come," said Mayopoulos. "Nima and the Blend team are driving much-needed improvements to the speed, efficiency and transparency of consumer lending. I am confident that the company's growth will continue at a remarkable rate."

In addition to Mayopoulos, Blend has expanded its leadership team with the following recent executive hires:

Olivia Teich has joined as head of product. In this role, Teich will focus on partnering with consumers and the industry to identify the areas where Blend's product can make the biggest impact to improve lending. Prior to Blend, Teich held roles leading product at both Dropbox and Jive.

Kallol Das has joined as head of engineering. He will focus on expanding Blend's engineering team, driving quality and efficiency, and partnering with the product team to achieve development goals. Das has held similar executive roles at Path, Salesforce, Amazon, and Invoice2Go.

Justin Schuster has joined as head of marketing. Schuster brings a strong background in SaaS, product, marketing communications, and digital marketing, having previously served as Corporate CMO at Acxiom and VP of marketing at LiveRamp.

"We've added some amazing leaders to our team, positioning the company to scale at an even faster rate and better serve our customers, driving meaningful change in our industry," Ghamsari said. "This group brings a wealth of experience and skill to Blend's executive team, and their contributions will be pivotal to achieving our goal of a simpler, more transparent financial services ecosystem."

The appointments follow a record year of growth for Blend's digital lending platform, which processed more than $230 billion in loan applications in 2018. Now 350 employees, up from just over 200 a year ago, Blend now works with 130+ customers that comprise more than a quarter of the U.S. mortgage market.

About Blend
Blend is a Silicon Valley technology company propelling the $40+ trillion consumer lending industry into the digital age through partnerships with banks, lenders, and other technology providers. Blend's cloud-based technology delivers speed and efficiency to lenders so they can serve the modern borrower and safely navigate the industry's changing rules and regulations.

Founded in May 2012, Blend is backed by Greylock Partners, Emergence Capital, Founders Fund, Andreessen Horowitz, 8VC, Lightspeed Venture Partners, and other leading venture investors. To learn more, visit blend.com.

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SOURCE Blend

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