FirstClose Report

Fast, Accurate Settlement Software


FirstClose Report users have seen 60% reductions in turn-time and significant soft and hard cost savings.

Benefits of FirstClose Software Solutions

  • Increased automation
  • Reduced processing turn times
  • Decreased loan closing times
  • Integrated with existing Loan Origination Systems
  • Reduced human error and duplicate data entry
  • Financial protection and security
  • Consolidated vendors
  • Scalable solutions for borrower demand
  • Standardized workflow
  • Improved consumer relationships
  • Minimal training needed for platform usage
  • Increased employee production level

The FirstClose Report is the first and only comprehensive home equity and refi tool to provide everything consumer lenders need to close on home equity, HELOC and refi loans more quickly and at a better price. Credit, valuation, flood, tax and title data is compiled into one easy-to-read report and returned within 30 seconds. FirstClose offers a proprietary, patent-pending software platform designed to deliver lenders end-to-end solutions from loan application to closing. FirstClose provides the most robust, yet user-friendly, vendor management system available to eliminate processing inefficiency and expedite closing times.


 

Title

FirstClose offers multiple service options that can be tailored to meet your underwriting guidelines:

  • INSTANT O&E / PROPERTY REPORT

    The FirstClose instant ownership and encumbrance property report provides current mortgages, liens, judgments, recordable legal and vesting information and tax status. An instant image or copy of the Deed is provided when available with options for lenders to obtain full legal and vesting information in text format.

  • Manual Property Report

    When an instant ownership and encumbrance report is not available, the FirstClose software solution automatically orders a manual O&E report from strategic partners who provide the fastest turn-around times and highest degree of accuracy.

  • LEGAL AND VESTING REPORT

    FirstClose offers legal and vesting reports for lenders not requiring liens, judgments and other encumbrances outside of the liens they obtain from the credit inquiry. A fully recordable legal and vesting report is provided with the option to protect the lender with FirstClose errors and omissions insurance.

  • FULL ALTA & JR. ALTA TITLE INSURANCE

    When loan amount, credit score, and other underwriting guidelines dictate the need for full ALTA or Jr. ALTA title insurance, the FirstClose software application can be programmed to automatically order such services.

Valuation

FirstClose offers various valuation options to fit any lender underwriting guidelines based on FICO, loan amount, and other criteria:

  • AVM Valuation

    An AVM is an Automated Valuation Model. The valuation is completed automatically by the system based on a programmed algorithm that determines the value of the property and is delivered back instantly.

  • Desktop Valuation

    The Desktop Valuation is an Evaluation using interactive, analytical methods and automated valuation tools. These evaluations are completed by an in-house team of licensed, real estate valuation specialists and are delivered within 2-3 business days.

  • Property Condition Report

    Lenders can order the AVM or Desktop either with or without a Property Condition Report which includes a full exterior inspection of the property and current photos from each angle including address verification.

  • Drive-By or Full Appraisal

    Lenders can choose to have their drive-by and full appraisals completed by an Appraisal Management Company (AMC) or select their own appraisers. Appraisal orders placed through the FirstClose system will be completed within 3-10 business days.

Flood

  • The FirstClose Report delivers basic and life-of-loan flood zone determinations in seconds from a choice of five different nationally recognized vendors. A PDF copy of the report is made available in the website software application or automatically transmitted into the lender’s Loan Origination System where flood data fields are automatically populated with the appropriate flood and HMDA data.

à la carte services:

Not everything can be instant. Lenders can add the following services to their FirstClose Report bundle or order these services a la carte through the web based software application or via their Loan Origination System:

Closing and Recordings

If you need e-recording, courier, or walk-in recordings, FirstClose has the solution for you. With more and more counties coming on-line with e-recording capabilities, FirstClose is helping lenders record their loans faster and easier than ever.

4506-T Income Verification

When you need verification of income for your borrower or member, FirstClose offers income verification services that can assist you in making sound lending decisions with integrations with the top income verification companies in the industry. Benefits include accelerated processing time, simplifying income analysis and a more streamlined verification process.

FirstClose strives for refinance and home equity lending to be as easy and painless as possible by using cutting-edge, patent-pending technology that is backed by trusted industry partnerships to create a world-class solution.

Client The FirstClose Report will enable us to work more efficiently and effectively, which ultimately benefits our members — helping to improve their experience.

Get Started With FirstClose


Want to see for yourself?

Request a free sample of the FirstClose or FirstLook Report and schedule a demo with our team today using the button below.