LenderClose Continues Growth in First Half of 2021

This article was originally published on BusinessWire.

LenderClose, a real estate and home equity lending technology platform, surpassed projected growth and enhanced its offerings to meet growing demand in the first half of 2021. A growing number of users are now able to offer a faster and more efficient home equity and real estate lending cycle with the use of workflows and automation. LenderCloses current client roster has grown more than 17% since the end of Q4 in 2020. Now supporting nearly 2,000 individual users, LenderClose has processed 40,668 loans in half a year.

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In the past six months, the company's cloud-native technology for placement of collateral verification data that expedites the home equity lending process, Home Equity Express (HEx), has experienced marked growth, reporting more than 179 files ordered and a five-day average completion. The solution enables financial institutions to process home equity transactions quicker. Committed to providing a better lending experience from beginning to end, LenderClose enhanced the knowledge-based authentication (KBA) of its remote online notarization (RON) solution in the first half of 2021. This update allows signers to experience a friendly, step-by-step walkthrough and complete the authentication at their convenience as soon as the session is scheduled.

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The newly minted LenderClose incubator was established to help further the development of existing and new technology. The two-month immersive program will afford qualified participants the opportunity to hone their technical skills and experience the LenderClose culture up close and personal. To accommodate this momentum in growth, the fintech firm doubled its office floor space of its existing office and hired new team members, growing the team by 45% in the past six months.