About Home Equity Express
Home Equity Express is a loan processing software from Coviance that automates the home equity loan process through configurable workflows. It provides data-driven decisioning, capable loan origination system (LOS) integrations, and onboarding support so lenders can improve efficiency and speed in loan processing. Home Equity Express is designed to align borrowers and lenders, ensuring a smoother transaction use. The platform also supports ongoing management of loans for better customer satisfaction. Key capabilities: configurable workflows data-driven decisioning loan origination system integrations onboarding support ongoing loan management Best for: lenders and financial institutions that need to simplify their home equity loan processing.
Home Equity Express (HEE) by Coviance is a highly specialized cloud-based lending automation platform designed to streamline and accelerate home equity lending processes for financial institutions. Its strength lies in combining intelligent automation with an intuitive, no-code, drag-and-drop workflow configuration, allowing lenders to implement their unique policies without complex programming. The platform’s proprietary Collateral Decision Engine™ and instant property condition validation significantly reduce bottlenecks in the lending cycle, enabling clear-to-close timelines that shrink from typical 40-45 days to as little as 5-11 days. HEE further enhances operational efficiency through automated HMDA reporting, centralized vendor management via Coviance Connectors, and real-time borrower communication through a unified interface. Integration capabilities are robust, with pre-built connectors for major Loan Origination Systems such as Encompass and MeridianLink Mortgage/Consumer, ensuring seamless data flow and minimal manual intervention. As a cloud-based solution, HEE offers scalability, high reliability, and access from any internet-connected device, while automatic updates keep the platform secure and up to date.
Pros & Cons
- +Ease of use with a simple workflow that makes loan processing faster and more efficient
- +Ability to track loan status in real time, improving transparency for both lenders and borrowers
- +Quick loan results with average home equity life cycle reduced to 11 days and shortest close in just 4 days
- +Online application process allows borrowers to instantly see tailored loan options
- +Instant property condition validation through borrower-submitted photos before approval
- −Inability to add notes in the section for remote notary.
- −Timeline improvements depend on borrower responsiveness and use of automated valuation or instant providers.
Features
Key features
- Proprietary Collateral Decision Engine™
- Powers intelligent lending decisions by automating the collateral review process.
- Smarter Workflows (No-Code, Drag-and-Drop)
- Allows lenders to easily build and customize home equity workflows that mirror their specific policies.
- Instant Property Condition Validation
- Enables borrowers to submit photos of their home to quickly validate the property's condition before loan approval.
- HMDA Reporting Automation
- Automatically checks current HMDA requirements and validates data at the loan level, saving significant time.
- Unified Billing & Operations (Coviance Connectors)
- Centralizes all vendors and billing into one single sign-on experience.
- Real-Time Borrower Insights and Communication
- Provides borrowers with a single source to check loan status, upload documents, and communicate via text and email.
Additional features
- Online Loan Application
- Borrowers can apply for a loan online and instantly view tailored loan options.
- Automatic Candidate Identification
- The system automatically identifies the strongest loan candidates for lenders.
- Instant Property Condition Validation
- Borrowers submit photos to quickly validate the property's condition before loan approval.
- Real-Time Loan Status Check
- Borrowers have a single source to check their loan status.
- Dynamic Communication (Text and Email)
- Allows members to communicate with the lender via both text and email.
- Document Upload
- Borrowers can upload necessary documents via the single source platform.
- Smarter Workflows (No-Code, Drag-and-Drop)
- Lenders can easily build and customize home equity workflows that mirror their specific policies.
- Collateral Decision Engine™ Power
- The system is powered by a proprietary engine to make intelligent lending decisions.
- Centralized Lending Processes
- Provides a central view of both the overall workflow and specific loan audit trails.
- Pre-Built and Flexible Workflows
- Offers ready-made and customizable workflows mapped to unique lender policies.
- Unified Billing & Operations (Coviance Connectors)
- Centralizes all vendors and billing into one single sign-on experience via dedicated connectors.
- HMDA Reporting Automation
- Automatically sees current HMDA requirements and validates data at the loan level.
- Pre-built LOS Integrations
- Offers no-code, plug-and-play connectors that seamlessly communicate with the Loan Origination System.
- Rapid Setup
- The platform can be deployed within days using pre-built templates, rather than months.
- Customized Onboarding
- Provides tailored onboarding based on the client's unique lending processes.
- Ongoing Client Support
- Clients partner with a relationship manager for continuous process optimization.
Pricing
Countries & Languages
Interface languages
Billing currencies
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About Home Equity Express
Home Equity Express is a loan processing software from Coviance that automates the home equity loan process through configurable workflows. It provides data-driven decisioning, capable loan origination system (LOS) integrations, and onboarding support so lenders can improve efficiency and speed in loan processing. Home Equity Express is designed to align borrowers and lenders, ensuring a smoother transaction use. The platform also supports ongoing management of loans for better customer satisfaction. Key capabilities: configurable workflows data-driven decisioning loan origination system integrations onboarding support ongoing loan management Best for: lenders and financial institutions that need to simplify their home equity loan processing.
Home Equity Express Details
Home Equity Express's In-App Market Place
Does Home Equity Express have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
No
Pricing Options
Accepted Payment Currencies
Usd ($), Eur (€), Gbp (£), Aud (A$), Cad (C$), Jpy (¥), Chf, Sek (kr), Dkk (kr), Nok (kr), Sgd (s$), Hkd (hk$), Nzd (nz$), Ils (₪), Zar (r), Inr (₹), Rub (₽).
Pros & Cons
- Ease of use with a simple workflow that makes loan processing faster and more efficient
- Ability to track loan status in real time, improving transparency for both lenders and borrowers
- Quick loan results with average home equity life cycle reduced to 11 days and shortest close in just 4 days
- Online application process allows borrowers to instantly see tailored loan options
- Instant property condition validation through borrower-submitted photos before approval
- Inability to add notes in the section for remote notary.
- Timeline improvements depend on borrower responsiveness and use of automated valuation or instant providers.
Home Equity Express's Support Options
Email Address
support@coviance.comContact
(855) 525-6730Home Equity Express's Alternatives
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