FirstClose Incorporates Vendor Gateway Within Its Digital Home Equity Solution

FirstClose | February 02, 2023 | Read time : 04:00 min

FirstClose Incorporates Vendor Gateway Within Its Digital Home

To help home equity lenders select and integrate their preferred settlement service vendors into FirstCloseTM Equity more efficiently, the company has launched its next-generation Vendor Gateway.

FirstClose Equity is a one-of-a-kind home equity origination solution that streamlines operational touchpoints while improving borrowers' overall customer experience. The platform's end-to-end solution comprises a borrower-facing point-of-sale solution that provides consumers with fast online feedback on their home valuation, accessible home equity, loan possibilities, and credit decisions in minutes. Also, lenders may be able to finish the process from application to closing in 7–10 days, while the average in the industry is 45–60 days. This is possible because of automated workflows that include the ordering of settlement services.

Lenders and their vendor partners can both significantly benefit from using FirstClose Gateway. One of the many benefits is that it will reduce vendors' time to get their products on the market. It will also make things better for borrowers by giving them consistent data and making sure their orders are filled. Also, it will make contracting and managing vendors easier by letting FirstClose equity lenders connect with their preferred providers under a single agreement, with a single bill and a single point of contact.

Ramiro Castro, Chief Product Officer for FirstClose, stated, "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."

"While our latest release includes a core set of vendors that are accelerating the origination process, our platform is vendor agnostic," Ramiro Castro concluded.

(Source – Cision PR Newswire)

About FirstClose

FirstClose, Inc., based in Austin (Texas), is a national provider of fintech solutions for a home equity line of credit (HELOC) and mortgage lenders. The company aims to help mortgage lenders improve profits while decreasing expenses. This is made possible by FirstClose's technology and relationships, which allow lenders to help their borrowers better, minimize closing costs, and shorten closing timeframes.


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