The path to faster closings for home equity has never been clearer
Home equity lending is surging as homeowners tap record levels of equity and more lenders enter the market, increasing competition. To meet borrower expectations for faster closings and improve pull-through, ServiceLink CloseNow™ helps lenders accelerate qualified loans through existing workflows with instant property insights, early closing scheduling and rapid implementation.
In a volatile mortgage market, home equity lending presents opportunity for homeowners and originators alike. In 2025, home equity lending captured a record share of mortgage transactions. The trend continued in 2026: in Q2 2026 alone, new closed-end second mortgages and HELOC originations increased 19.8% quarter-over-quarter, from $78.2 billion to $93.7 billion. According to the September 2026 Intercontinental Exchange (ICE) Mortgage Monitor Report, Q2 saw the “most borrowers to tap equity and the second-largest withdrawal volume in a quarter since 2022.” And, there’s more opportunity: while equity withdrawals have risen, homeowners are still tapping only a small fraction of their available equity.
A market with this level of opportunity means competition. As refinance volumes fall and homeowner equity remains at record levels, lenders are entering the home equity market for the first time or re-entering it. In some cases, large banks that suspended home equity lending in the early 2020s have revived their home equity divisions. Meanwhile, new entrants – including non-bank lenders and fintechs – are making a significant impact, while credit unions are expanding their offerings.
Amid this time of high volume and increased competition, lenders may not feel that they have the time to consider new home equity workflows. However, the combination of opportunity and competition is precisely why they should. According to the 2026 ServiceLink State of Homebuying Report, most borrowers think it should take two weeks or less to close on a home equity loan. Yet timelines hover at more than a month. And these long timelines have an impact: data demonstrates strong correlation between high cycle times and low home equity pull through rates. ServiceLink CloseNow™ addresses this reality by unlocking cycle times that meet or exceed borrower expectations. It helps lenders avoid fallout by providing them with relevant information immediately after application. And, implementation is easy, efficient and nondisruptive to ongoing origination operations.
How does ServiceLink CloseNow fit into existing operations? ServiceLink CloseNow can be implemented via an immediately available API call, through a LOS, POS or direct integration. Lenders can continue using their current origination systems while considering property information and scheduling the closing earlier in the process. Teams don't need to rip and replace existing systems. Instead, they accelerate qualified loans through the workflow.
How does ServiceLink CloseNow work?
- Lender receives an application. At that point — or at any point during their workflow — they can trigger an API call for instant property information.
- Instant property information supports prioritization and workflow decisions. Based on their parameters, the lender can determine whether to fast-track a particular loan to origination.
- Lenders speed through the next file in their pipeline, while ServiceLink provides a property report within two to four hours. If required, ServiceLink can provide insured title products within hours as well.
- Meanwhile, the lender also schedules a closing appointment. With eClosing implementation and if their internal processes allow, they can even close the same day. Regardless, setting the closing appointment this early in the process enables the lender to lock in the borrower, just minutes after receiving their application.
What changes from traditional workflows?
- Fast tracking: To take full advantage of ServiceLink CloseNow, lenders should fast-track applications that meet their standards to closing.
- Moving scheduling to post-application: Lenders move closing scheduling to front of process, so they can immediately lock in closing timelines with their borrowers. Lenders can schedule on behalf of their borrower, or enable the borrower to schedule on their own.
- eClosing implementation: eClosing enables the fastest home equity cycle times — and delivers a number of other benefits as well.
FAQs
- What additional technology is required to implement ServiceLink CloseNow? None. ServiceLink CloseNow uses technology already at your fingertips and is available via an API call.
- How quickly can you integrate ServiceLink CloseNow into our LOS? Implementation timelines vary based on integration requirements, but ServiceLink can leverage our API and ensure we align implementation timelines with lender timeframes.
- What closing cycle times does ServiceLink CloseNow accommodate?
We’ll align the workflow with your cycle time goals — including customizing available closing appointment dates to your parameters. If your internal underwriting requirements and workflows support a same-day closing workflow, ServiceLink CloseNow can accommodate that. Whether your goal is to cut cycle times by one day, 10 days or more drastically, we’re ready to meet the needs of your organization and your borrower.
Learn more about ServiceLink's home equity solutions here.
