News Source: FirstClose
AUSTIN, Texas, Nov. 5, 2025 (SEND2PRESS NEWSWIRE) — FirstClose™, a leading fintech provider of data and workflow solutions for mortgage and home equity lenders nationwide, is celebrating its 25th anniversary this month. This marks a quarter-century of innovation in modernizing lending processes for residential mortgage and home equity lenders nationwide.
Image caption: FirstClose.
The anniversary comes as homeowners increasingly turn to equity amid limited refinancing opportunities in a high-rate environment. Total homeowner equity in the U.S., including homes owned outright, is estimated at $35 trillion. American homeowners with a mortgage hold about $17.6 trillion in home equity, of which approximately $11.5 trillion is considered tappable while maintaining at least 20% ownership. In addition, HELOCs and home equity loan originations increased by more than 23% year over year from 2023 to 2024, underscoring the growing importance of this lending segment.
With 225 financial institutions leveraging its platform, FirstClose has assisted lenders in meeting this demand through instant decisioning, automated workflows and vendor integrations that ensure transparency and efficiency, resulting in $129 billion in funded loans since 2015. Institutions using FirstClose’s digital prequalification tools have also experienced a 30 to 40% increase in application volume, showcasing the company’s influence on lender growth.
“Reaching 25 years reflects the trust of our clients and the dedication of our team,” said Tedd Smith, chief executive officer of FirstClose. “With demand for home equity products at an all-time high, our mission has never been more relevant: to simplify lending and empower lenders to grow. We are eager to continue shaping the future of mortgage and home equity lending.”
Looking ahead, FirstClose plans to expand its investments in this market. As the leader in home equity workflow management, including its award-winning point-of-sale (POS) platform and order management system (OMS), the company is introducing new integrations with top providers and developing innovative borrower and loan officer engagement tools, reinforcing its role as a long-term partner to lenders navigating evolving borrower needs.
Since its founding in 2000, FirstClose has evolved from a one-stop aggregator of property data and settlement services into a full end-to-end technology platform solution that enables lenders to capture the growing demand of home owners, reduce costs and deliver faster, borrower-friendly closings. Its platform integrates automated workflows, extensive vendor networks, and deep loan origination system integrations to provide a full-service, end-to-end solution that lenders and borrowers can rely upon to access funds within 7 days, compared to an industry average of 42 days. FirstClose leadership is excited to celebrate 25 years of innovation while looking to the future by impacting the entire industry with similar time and cost savings nationwide.
About FirstClose
Headquartered in Austin, Texas, FirstClose, Inc. provides fintech solutions to home equity and mortgage lenders nationwide. The company’s mission is to increase profitability and reduce costs for mortgage lenders. FirstClose makes this possible through offering systems and relationships that enable lenders to assist the lender’s borrowers more effectively, reduce closing costs, and ultimately shorten closing times. For more information, visit https://www.firstclose.com/.
This press release was issued on behalf of the news source (FirstClose), who is solely responsible for its accuracy, by Send2Press Newswire.
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