FirstClose Adds Vendor Gateway to its Digital Home Equity Solution

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Feb 01, 2023, 09:00 ET

Now Home Equity Lenders Can Add Preferred Vendors and Analyze their Performance

AUSTIN, Texas, Feb. 1, 2023 /PRNewswire/ -- FirstClose, Inc., a leading fintech provider of data and workflow solutions for mortgage and home equity lenders nationwide, announced today that it has launched its next generation Vendor Gateway that enables home equity lenders to easily select and integrate their preferred settlement services vendors into FirstClose™ Equity.

FirstClose Equity is a one-of-a-kind home equity origination solution that reduces operational touchpoints and improves the overall customer experience for borrowers. The end-to-end platform includes a borrower-facing point-of-sale solution that gives consumers instant online feedback on their home valuation, available home equity, loan options and delivers credit decisions in minutes. Automated workflows, including the ordering of settlement services, enable lenders to complete the application through closing process in seven to ten days versus the industry average of 45 to 60 days.

FirstClose Gateway will deliver significant advantages for both lenders and their vendor partners. For example, it will:

Support an enhanced borrower experience by delivering consistent data and order fulfillment.
Simplify contracting and vendor management by enabling FirstClose Equity lenders to connect with preferred providers with one contract, one bill, one support team.
Result in a quicker time-to-market for vendors via seamless integrations with leading LOS's.

"We designed the Gateway to give lenders greater control over the home equity process: everything from the customer experience they deliver to their operational and risk management choices," said Ramiro Castro, Chief Product Officer for FirstClose. "While our latest release includes a core set of vendors that are accelerating the origination process, our platform is vendor agnostic."

About FirstClose

Headquartered in Austin, Texas, FirstClose, Inc. provides fintech solutions to HELOC and mortgage lenders nationwide. The company's mission is to increase profitability and reduce cost for mortgage lenders. FirstClose makes this possible through offering systems and relationships that enable lenders to more effectively assist the lender's borrowers, reduce closing costs, and ultimately shorten closing times. For more information, visit firstclose.com.

SOURCE FirstClose