2017 HW Tech100 Winner: FirstClose
Providing data for home equity lenders reduces turn times
The company’s patent-pending flagship product, The FirstClose Report, instantly provides all the data that is required for home equity lenders in all 50 states.
By tapping multiple data sources and using proprietary algorithms, the company says the FirstClose Report can reduce turn-times by as much as 80%, from 14 days down to 2.8 days.
In addition, its client base, comprised of 60% credit unions and 40% banks, saves an average of 40% on the cost of settlement services, according to the company. FirstClose has grown its client base by 70% in the last 18 months and expects to double the amount of revenue generated in 2016.