Approvals in Hours.
Funding in Days.

From application to funding, Coviance gives community lenders the speed and experience to close more loans, delight borrowers, and compete directly with non-bank lenders.

Unite Borrower & Lender Experiences

The platform transforming how financial institutions lend

Coviance is a lending experience platform built specifically for home equity and HELOC lending.
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Our Fast Track solution accelerates your path from application to funding — giving community lenders the speed, simplicity, and borrower experience needed to compete against rising ‘non-bank’ lenders.
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Coviance customers experience measurable growth without adding complexity or a change in policy.

Grow Loan Revenue & NIM

Increase pull-through and reduce application drop-off, with 20% improvement in loan pull-through and a 10% decrease in application drop-off*.

Scale with Your Existing Team

Increase capacity and shorten closing cycle times without adding unnecessary manual work, with a 36% increase in staff productivity*.

Increase Borrower Satisfaction

Deliver the digital lending experience today’s borrowers expect, with funding available to borrowers in under a week**.

*Results based on the 2022 independent research study by MarketWise Advisors, LLC and Coviance data and analytics.  Coviance and MarketWise Advisors, LLC disclaim any liability and provide no warranty or representations as to performance or accuracy of the data. Clear-to-close in days, not weeks” assumes utilization of automated data and insight solutions (example: Automated Valuation Model (AVM)), including other instant providers already integrated into Coviance and timely borrower submission of underwriting stipulations set-forward by the lender. Timeline excludes traditional valuation, title or any solutions which require manual intervention.
**“Funds to borrowers in under a week” and “Clear-to-Close in 48 hours” assumes the utilization of Fast Track automation, the loan progresses through all of the automation, and prompt cooperation by Applicant(s). Timeline excludes delays caused by Applicant(s), traditional valuations, or any solutions which require manual intervention.

Speed at Every Stage of the Loan

Fast Track includes three applications that work together to accelerate every step of the home equity journey from first click to funded loan.

Borrower Engage

Give borrowers a simpler path from application to funding, with relevant conditional offers, clear next steps, and secure digital collaboration that keeps them informed and engaged throughout the lending journey.

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Screenshots of user verifications passing

Lender Intelligence

Put your lending strategy into action with tools to configure loan programs, prioritize work, and see where each loan stands, while built-in decision guidance helps your team move more loans forward with less manual work.

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Screenshots of Coviance Lender Intelligence and its Fast Track Summary

Quick Close

Carry the speed of Fast Track through the final steps of the loan, with connected closing documents, signing services, payments, and funding that reduce manual handoffs and help borrowers access their equity sooner.

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illustration of Coviance Quick Close app

We love our customers like you love yours

Don’t take it from us. Hear from our customers about the power of Coviance.

We've found a true partner in Coviance. They are in the credit union movement, and truly want to provide a service that can help credit unions help members. And so that's what we found in Coviance was a true partner to better serve our members.
Jessica Riddell
Director of Mortgage Services
Home equity has been a great source to establish long term relationships in hopes that we create and increase our own deposits. In working with Coviance, we're able to provide a borrower experience that enables us to have conversations with the borrowers to increase their relationship with the bank.
Scott Johnson
SVP, Director of Consumer Lending & Residential Mortgage
Having a fast and efficient lending process is helping us stand out from our competitors and is allowing us to build a reputation in our marketplace as our members’ go-to resource for a home equity loan.
Todd Peeples
SVP of Sales and Lending
Many homeowners are staying put to keep their low interest first mortgages, driving an increase in home equity loans. Coviance has been instrumental in making our home equity process seamless and frictionless, enabling us to manage the increased workload with our existing staff.
Sam Lewis
Mortgage Supervisor

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Frequently Asked Questions

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Can home equity loans be refinanced?

Yes, home equity loans can be refinanced under certain circumstances. This can be beneficial if you want to secure a lower interest rate, access a larger loan amount, or consolidate debt. However, refinancing typically involves closing costs such as loan origination fees, appraisal fees, and title search insurance fees.

What are home equity loans?

Home equity loans are a type of loan secured by a borrower's home. The borrower receives a lump sum of cash based on the appraised value of their home minus their existing mortgage balance (equity). They repay the loan with interest over a fixed term.

What are the benefits of using a cloud-based automation platform like Coviance for home equity lending?

Coviance's cloud-based platform offers several benefits over traditional, on-premise solutions:

  • Scalability: Coviance easily scales to meet your growing loan volume without additional hardware investment.
  • Accessibility: Authorized users can access the platform securely from any internet-connected device, improving flexibility and remote work capabilities.
  • Reduced IT Costs: Our cloud-based deployment model eliminates the need for expensive hardware and software maintenance, minimizing IT burden.
  • Automatic Updates: Coviance handles software updates automatically, ensuring you always have access to the latest features and security patches.
  • Enhanced Security: We offer robust security measures to protect sensitive borrower and loan data.

By leveraging cloud technology, Coviance offers a cost-effective, scalable solution for automating your home equity lending process.

Why should a borrower consider home equity loans for debt consolidation?

Home equity loans typically offer lower interest rates than credit cards or other unsecured loans, saving borrowers a significant amount of money on interest charges over the life of the pre-consolidated loans. Additionally, consolidating debt into a single monthly payment can simplify budgeting and make it easier to stay on track with repayments.

What are the benefits of offering home equity loans?

Home equity loans offer a valuable service to your customers, allowing them to access funds for important expenses like home renovations, education, or debt consolidation. By offering home equity loans, your organization can deepen relationships with existing customers, attract new customers, and generate additional non-interest income.