FirstClose’s home equity platform, FirstClose Equity, is now integrated with The Closing Exchange’s notary and e-signing service, CXChoice, to offer a complete suite of signing options for home equity transactions.
FirstClose is a provider of data and workflow solutions for mortgage and home equity lenders. In a release, the company says this integration provides lenders with a flexible way to schedule and manage their signing services, whether it’s traditional ‘wet signing’ in branch, mobile notary, RON, IPEN or a hybrid.
The Closing Exchange’s built-in logic ensures compliance with state regulations and lender specific guidelines. The ultimate result is that home equity lenders can now offer digital signings to their borrowers with ease, limited set up time, and all through one system– FirstClose Equity.
Digital and hybrid signings accelerate loans closings, reduce errors and instantly return signed documents. Built-in know-your-customer technology increases the security of these transactions.
“Consumers are demanding a more flexible, more-modern signing experience similar to the ones they encounter in other everyday situations,” says Ramiro Castro, chief product officer at FirstClose, in the release. “To compete, lenders need to provide a range of signing options in a seamless and convenient manner. Our partnership with The Closing Exchange makes this happen. It sets the stage for a better client experience, not only at closing, but throughout the entire transaction.”
Three FirstClose credit union clients are already using this integration to enhance their members’ HELOC experience with full RON closings. One credit union, based in Michigan, was able to initiate digital signings in less than one week, and move to 100 percent RON closings within one month.
“Leveraging our CXChoice platform and its integrations with various digital signing and notarization platforms, FirstClose will be able to help hundreds of lenders provide a better borrower experience at closing,” says Alan Frelix, CEO of The Closing Exchange. “Together, we are opening doors for our respective lender clients who are struggling to transition to a digital mortgage process while providing the various signing options borrowers demand.”
Photo: Jonny Gios