In the first quarter of the year, California mortgage technology firm Blend Labs shrunk its financial losses amid efforts to cut costs, improve the mortgage business and grow the Blend Builder platform. 

Blend reported a non-GAAP net loss of $35.6 million in the first quarter, compared to $49.2 million in the prior quarter and $45 million in the same period last year. The company’s GAAP net loss in Q1 was $66.2 million, down from $81.4 million the previous quarter, according to documents filed with the Securities and Exchange details ⇒