FirstClose Inc. has launched its next-generation Vendor Gateway, enabling home equity lenders to select and integrate their preferred settlement services vendors into FirstClose Equity.
FirstClose Equity is an origination solution that reduces operational touchpoints and improves the overall customer experience for borrowers, the company says. 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 and 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 10 days versus the industry average of 45 to 60 days, the company adds.
“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,” says 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.”
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