FirstClose Equity is a home equity origination solution that reduces operational touchpoints and improves the overall customer experience for borrowers, processors and underwriters. Automated workflows, including the ordering of settlement services, enable lenders to complete the application through the closing process in as fast as five days versus the industry average of 45 to 60 days.
FirstClose Equity is the first and only point-of-sale order management platform specifically built for home equity. The company’s solutions enhance the borrower experience and enable lenders to deliver instant approval, thus closing home equity loans and/or HELOCs in as fast as five days.
The company’s first-generation home equity solutions are currently being used by more than 300 banks and credit unions. Lenders using FirstClose Equity have experienced a 35% increase in online applications, a 25% increase in pull-through and a 77% reduction in time to close from application to funding.