Blend Labs, a digital banking platform, reported improved financial results for Q2 2025, including non-GAAP profitability, revenue growth, and a record RPO balance. The company also announced the sale of Title365 to Covius as part of its strategy to simplify operations.

The FinTech IPO Index fell 1.3% as platforms like Blend and OppFi declined, while Circle surged 70% due to a partnership with OpenPayd. DeFi Development Corp. secured a $5 billion equity line of credit, and Labubu, a plush monster, became a global collectible and investment phenomenon.

PHH Mortgage, a major U.S. mortgage servicer subsidiary of Onity Group, expands its partnership with Blend Labs to streamline refinance and home equity processes for borrowers. The collaboration leverages Blend’s digital platform to improve speed, personalization, and efficiency in mortgage lending, aiming to meet rising borrower demand and strengthen customer relationships.

Nima Ghamsari, the Head of Blend Labs, sold 119,850 shares of the company’s Class A Common Stock for $405,264, following recent stock declines and strategic moves. The company announced the appointment of Reva Rao as Head of Digital Transformation for Credit Unions and a merger with Covius Services to acquire Title365, expanding its technology platform. Analysts maintain positive outlooks despite short-term stock underperformance.

Merit Financial Group LLC and other institutional investors purchased shares in Blend Labs, Inc., while an insider sold a portion of their holdings. The company's stock closed at $3.23, with a market cap of $837.41 million and analyst ratings reflecting mixed outlooks. Blend Labs operates cloud-based financial software solutions in the U.S.