FirstClose
FirstClose offers a digital application platform for home equity loans and HELOCs, integrating with major loan origination systems and providing automated workflows and borrower portals.
Services
FirstClose offers a comprehensive digital application platform specifically designed for home equity loans and Home Equity Lines of Credit (HELOCs). The platform includes borrower portals and the ability to order settlement services, providing an end-to-end solution for financial institutions. Automated workflows support verification processes, including credit, flood, appraisal, title, tax, income, employment, and asset verification. Additionally, a branded borrower-facing platform is available, featuring an equity/payment calculator and instant online property valuation and loan options.
Products
FirstClose's key product, FirstClose Equity, is a digital solution for HELOCs and home equity loans. This product aims to expedite the decision-making process, offering advanced features like automated workflows and a branded borrower portal. The platform integrates an equity/payment calculator and provides immediate online feedback regarding property valuation and loan possibilities. FirstClose Equity also supports significant improvements in processing times and application conversion rates.
Integration with Loan Origination Systems
FirstClose integrates with major loan origination systems to streamline the home equity loan and HELOC processes. These integrations include Calyx, MeridianLink, ICE Mortgage Technology, and Temenos. By partnering with these platforms, FirstClose enhances the ease and efficiency of loan management for financial institutions, allowing seamless data flow and automation.
Headquarters
FirstClose is headquartered in Austin, Texas. This strategic location supports the company’s operations and growth in the financial technology sector, providing services to over 400 customers, primarily consisting of banks and credit unions across the United States.
Customer Success and Performance Metrics
FirstClose serves over 400 clients, mainly banks and credit unions, within the United States. The platform has been demonstrated to increase online applications by 35% and improve pull-through rates by 25%. The process from application to funding is reduced by 77%, showcasing the efficiency gains driven by the platform. Moreover, FirstClose maintains a Service Level Agreement (SLA) achievement rate of 99.9%, emphasizing its reliability and customer satisfaction.