Austin, Texas, January 24, 2019 – FirstClose, a leading provider of technology solutions for mortgage lenders nationwide, added 65 new clients including Truliant Federal Credit Union, FirstBank and The Washington Trust Company; and integrated with multiple new vendor partners, to close out 2018 as one of the most successful in the company’s history.
Helping fuel this growth was a multi-million-dollar investment from Cypress Growth Capital, the largest royalty-based growth capital investor in the United States. The investment provided FirstClose with the capital to continue innovative enhancements to their product line and add additional staff and leadership to support the company’s growth and customer base.
As for the product, 2018 brought a great deal of changes and developments. New features included enhanced decisioning logic and the current migration to cloud-based services, which will provide users with a product that is both reliable and easier to use while enhancing the borrower experience.
FirstClose also formed new partnership as well as enhanced current relationships with vendors like Chicago Title, First American, Financial Dimensions and ServiceLink to ensure clients can operate seamlessly in their workflow, ensuring complete, compliant and accurate loan closings. On the horizon for 2019 are enhanced user experiences, advanced reporting features, automated billing and additional LOS integrations.
To support the company’s growth, FirstClose hired 15 new employees whose roles span all departments. Most notably, FirstClose added two new executives to the team. Chief Technology Officer Pat Downing will use his vast experience in technology to serve FirstClose while Chief Operating Officer and Chief Financial Officer Patrick McClain will lead the team as they develop new and innovative products for 2019.
“2018 was an exceptional year for us, exceeding our year-end goals. We are grateful to our clients, investors and partners for making this year so successful,” said Tedd Smith, CEO and co-founder of FirstClose. “There are so many new product developments and partnerships coming in 2019 and it is our hope that the coming year will be just as successful as the last.”