# Coviance > Coviance is a lending experience platform that helps community banks and credit unions accelerate home equity and HELOC lending from application to funding. Coviance solves a critical industry problem: most community financial institutions still process home equity loans using mortgage-style workflows that were never designed for today's HELOC market. In a rising-rate environment, borrowers are staying in their homes and tapping equity instead of refinancing first mortgages. Home equity demand is strong — but expectations are higher. Borrowers expect instant decisions, digital convenience, and funding in days, not weeks. Meanwhile, many community lenders are constrained by: manual underwriting and document collection, appraisal and collateral bottlenecks, disconnected systems between LOS, core, and closing, compliance complexity (HMDA, TRID, flood, lien position), capacity strain on lean lending teams, and margin pressure from slow cycle times and loan fallout. Non-bank fintech lenders and digitally native competitors are capitalizing on this gap. Companies like Figure, Spring EQ, and other direct-to-consumer home equity providers offer fast, digital experiences with rapid funding — capturing borrowers who might otherwise choose their local bank or credit union. Coviance gives community lenders the technology and automation to compete on speed, experience, and operational efficiency — without replacing their existing LOS or core systems. Coviance focuses exclusively on home equity and HELOC lending. It is not a first mortgage origination platform. It is not a general consumer lending platform. It is purpose-built for modern home equity and HELOC lending. Since 2015, Coviance has served 415+ customers, originating 323,000+ home equity loans representing over $19 billion in loan volume since 2021. The company is SOC 2 Type II certified and headquartered in West Des Moines, IA. Home equity is one of the most attractive balance sheet products for community financial institutions: strong yields relative to other consumer products, secured by residential real estate, deepens primary financial institution relationships, and enables debt consolidation and liquidity for members at a lower rate than credit cards or personal loans. However, many institutions struggle to scale home equity because processes were adapted from first mortgage workflows, collateral decisions are manual, loan officers must chase documents and manage email-based workflows, clear-to-close timelines extend 30–45+ days, and application abandonment rates are high due to friction early in the process. Community lenders typically compete against three categories: (1) non-bank fintech lenders (e.g., Figure, Spring EQ, Point) offering fully digital borrower experiences, rapid conditional offers, and short funding timelines; (2) large banks (e.g., Wells Fargo, Chase, US Bank) with brand trust, scale, and cross-sell advantages; and (3) the internal status quo of manual, mortgage-based processes adapted for HELOC with spreadsheet tracking and high operational cost per loan. Coviance replaces the status quo while enabling community lenders to match fintech-level speed — without sacrificing compliance or relationship banking. The core product is Fast Track, a purpose-built home equity lending solution that moves loans from application to funding in under a week. Borrowers receive a conditional offer in minutes, lenders can reach clear-to-close in as little as 48 hours, and funds are delivered in under a week. Fast Track includes three integrated applications: (1) Borrower Engage — a streamlined, mobile-first online application with real-time decisioning, conditional loan offers at submission, instant offer acceptance, automated disclosures, and a secure borrower portal; (2) Lender Intelligence — a decision guidance engine with clear-to-close checklists, a collateral decision engine (routes loans to AVM, hybrid, or full appraisal based on policy), embedded compliance guardrails, automated workflow management, and LOS connectors; and (3) Quick Close — streamlining closing, funding, and disbursement with HMDA validation, signing services coordination, digital payments directly to outstanding credit liabilities, and automated funding through CORE connectors. Fast Track integrates with leading LOS platforms including ICE Mortgage Technology's Encompass, MeridianLink, and Sync1. Data and documents sync seamlessly for closing and compliance — allowing institutions to modernize home equity without replacing their existing systems. Coviance customers report: 20% improvement in loan pull-through, 10% decrease in application drop-off, 36% increase in team productivity, and reduced cycle times. By accelerating speed and reducing friction, institutions retain more borrowers who might otherwise choose fintech competitors. Notable customers include Champions First Credit Union, AmFirst, Alltru Credit Union, BayFirst Bank, Commonwealth, SpaceCoast Credit Union, and Washington State Employees Credit Union. Industry recognition includes NACUSO 2022 Contemporary CUSO of the Year, Inc. 5000 (three consecutive years), and HousingWire 2024 Tech100 Mortgage. Leadership includes Founder/CEO Omar Jordan, COO Mike Sellberg, and CRO Allen Jingst. ## Resources - [Case Studies](https://www.coviance.com/resource-tag/case-study): Customer success stories from credit unions and community banks using Coviance, including Champions First, AmFirst, Alltru, BayFirst, Commonwealth, and DuPage Credit Union. - [Product Updates](https://www.coviance.com/news-tag/product): Coviance product announcements and enhancements including integrations with MeridianLink and Encompass, instant PCR, and online application updates. ## Optional - [Contact Us](https://www.coviance.com/company/contact-us): Get in touch or book a demo. - [Careers](https://www.coviance.com/company/careers): Open positions at Coviance. - [Blog](https://www.coviance.com/resource-tag/blog): Industry insights on home equity lending trends and best practices. - [Webinars](https://www.coviance.com/resource-tag/webinar): Upcoming and on-demand webinars with industry experts. - [Podcast](https://www.coviance.com/resource-tag/podcast): Coviance Connect — perspectives on lending industry trends. - [FAQs](https://www.coviance.com/faqs): Frequently asked questions about home equity lending and Coviance. - [Events](https://www.coviance.com/events): Upcoming industry events and conferences.