FirstClose Equity from FirstClose is a specialized home equity origination platform designed to streamline the lending process and enhance the borrower experience. As the first and only point-of-sale and order management platform built specifically for home equity loans (HELs) and lines of credit (HELOCs), FirstClose Equity enables lenders to deliver faster approvals and close loans in as little as five to seven days, a significant improvement over the industry average of 45 to 60 days.
The platform integrates automated workflows that minimize operational touchpoints for lenders while improving the borrower experience. It features tools such as a borrower-facing digital loan application inquiry, real-time decisioning that delivers credit approvals in minutes, and a secure portal for document uploads and eSigning. Additionally, lenders gain insights into loan processes through embedded business intelligence, allowing them to identify and address fallouts effectively.
This year, FirstClose expanded its offerings by integrating with ICE Mortgage Technology’s Encompass LOS and introducing a strategic Liquidity Network to support lenders in the home equity market. The launch of its Digital Loan Product Wizard has further enhanced consumer engagement by providing real-time debt consolidation options and customizable loan scenarios.
Currently used by nearly 300 banks and credit unions, FirstClose Equity has helped lenders increase online applications by 35%, improve pull-through rates by 25% and reduce time-to-close by 77%.
Company Website:
Markets Served:
Loan Origination and Closing
Company HQ:
Austin, TX
