Everything old is new again, right? Case in point: Home Equity. These products have been around for decades but in recent years have taken a back seat to cash-out refinances. Now this is changing as borrowers with historically low first mortgage rates and generationally high levels of tappable equity rediscover HELOCs.
Leverage this historic opportunity with FirstClose Equity, the rapid end-to-end solution that processes HELOCs and home equity loans in days instead of weeks. We designed FirstClose Equity to enable banks to dramatically elevate the experience they deliver to their existing or potential customers.
But Specifically for Home Equity
Decades ago, we designed and purposely built the first and only home equity system. Today, it continues to be the only platform built solely for this purpose, which is why it’s smarter, better and faster than any other solution on the market.
77% reduction in your time to close from application to funding
35% increase in your online applications
25% increase in your pull through
Instant Online Feedback: Our easy-to-use customer-centric platform provides instant online feedback about borrowers’ properties, such as: valuation, available home equity, loan options, and credit decisions—all in a matter of minutes.
Equity/Payment Calculator: Borrowers can quickly see where they stand regarding available equity and estimated monthly payments.
Accelerated Pull-Through Rate: With up to 10 simple questions answered by the borrower in pre-qualification, FirstClose identifies favorable HELOC and home equity loan candidates, who are then quickly moved through to loan option offerings.
Automated Workflows: Once borrowers are actively in the loan process, automated workflows trigger required tasks from your LOS. Borrowers can easily keep track of their required “To Do’s” and upload documents such as insurance policies or tax returns; once uploaded to the Borrower Portal, documents are then made available in your LOS.
LOS Integrations: FirstClose writes all borrower information directly into the LOS without the need for manual entries, further streamlining the process.
Branded To YOU: Borrowers only see your brand which includes your domain, not FirstClose. The role of our platform is to ensure your customers have an exemplary home equity loan experience.
Redeploy Valuable Resources Where It Matters Most: The days of manually screening qualified loan applicants and processing settlement services is over. FirstClose automates the loan qualification, application, decisioning and closing process, so you can redeploy valuable resources where they’re needed most.
Dramatic Time Savings: Just as our automated system reduces manual processes and efforts, so too does it reduce the turnaround time at every juncture of the loan process. What used to take weeks now takes days – something both you and your borrowers will greatly appreciate.
If you want an all-in-one turnkey solution that delivers more home equity business with an enhanced customer experience, FirstClose Equity is where it’s at.
Learn more at firstclose.com/ICBA-leader.
