Best Loan Servicing Software include:
Encompass from ICE Mortgage Technology, ACES (Automated Compliance and Evaluation System) Web Audit Technology, FinnOne Neo, TValue, LoanPro, Calyx Point, Nortridge Loan System, CoreLogic Credco, The Mortgage Office and Mortgage Servicer.
Encompass from ICE Mortgage Technolgoy (formerly Ellie Mae) is an all-in-one mortgage management solution for lenders.
FinnOne Neo is an automated, workflow-based and technologically advanced lending solution that provides loan lifecycle management capabilities, available on-premise or from the cloud. It enables customers to digitize and automate their processes, launch tailored products, and offer…
LoanPro is software with features including payment solutions, data management, customer communication, and reporting. LoanPro also provides data management features such as verification tools, storage, and live amortization. LoanPro is an API-based, fully-scalable, lending solution…
TValue is a loan structuring and origination software and calculation tool from TimeValue Software headquartered in Irvine. It is available as a cloud-based software or installed.
Mortgage Builder, a subsidiary of Constellation Mortgage Solutions, is presented as a robust and comprehensive loan servicing platform that automates key functions of loan servicing. Benefits include standard and custom reporting capabilities and web access to loan-level information…
Calyx Software offers Point for mortgage officers, software supporting the loan lifecycle from prequalification to processing.
ACES Risk Management's (ARMCO) flagship product is ACES (Automated Compliance and Evaluation System) Web Audit Technology™ which enables full understanding of mortgage loan quality, how to control it and how to convey it. According to the vendor, their web-based solution includes…
Loancierge for Credit Unions from Fiserv is a loan origination solution offering intuitive navigation, workflows and paperless processing tools to strengthen lending operations, mitigate risk and increase loan efficiency to compete for loan opportunities.
Rapport is an equipment finance origination platform providing deal flow automation for lenders in this space, from Solifi (formerly IDS), headquartered in Minneapolis.
Fiserve Mortgage Director replaces easyLENDER, which was sunsetted in 2017 when Fiserv acquired PCLender. Fiserv Mortage Director, the next evolution of those products, is a loan origination system at the core of the Fiserv lending ecosystem designed to streamline lending operations…
Total Lending, with LaserPro loan document compliance , represents what is meant by the vendor to be a total end-to-end loan servicing and management solution for financial institutions offering business or consumer loans. Total Lending is offered and supported by Finastra, the company…
Finicity Connect, now from Mastercard, is a fintech software that aims to make the consumer permissioning process simpler and faster. Finicity Connect links to the vast majority of financial institutions, providing an open banking APIs designed to put consumers in control of their…
Blend is a digital lending platform that simplifies applications for mortgages, consumer loans, and deposit accounts. The company enables customers to process more than $4 billion in mortgages and consumer loans per day. Erin Collard, Eugene Marinelli, Nima Ghamsari, and Rosco Hill…
The Nortridge Loan System is a loan servicing platform from Nortridge Software in Lake Forest, California.
Finacle Digital Lending Solution Suite is an enterprise class, multi-segment, multi-product solution that helps banks and FIs originate and service loans, digitally. Built on a cloud-native open architecture, the componentized suite empowers banks to deliver new propositions across…
InteGREAT by Perfios is a low-code lending management solution specifically for the financial and insurance sectors, supporting a variety of use cases such as customer onboarding for insurance or credit cards and other banking products, or for a digitized invoice discounting workflow,…
Evitec Power Lending is a corporate lending system, based on standard .NET Core, React and SQL technologies. Process automation allows personnel to focus on the customer and value adding tasks, and its API based microarchitecture allows flexible integrations, brings down IT costs…
Numerated is a fintech used by banks and credit unions as a digital lending platform. The platform can streamline the origination of any business banking product, from application to decision to close. The vendor states more than 400,000 businesses and 30,000 financial institution…
Megasys is a loan servicing system for the consumer finance industry operating for over 40 years. They provide customizable software platforms for finance companies of every size, from startup businesses to major corporations. Their clients service 2 million active accounts and processed…
SimpleNexus, an nCino company, is a homeownership platform connecting the people, systems, and stages of the mortgage process into an end-to-end solution that spans engagement, origination, closing, and business intelligence to deliver a modern mortgage experience.
The Trade Ledger lending-as-a-service platform brings together data for business lenders to support the customer lifecycle, analyze data, and automate key processes. From origination to decision and structuring, the solution helps to simplify complex loan products. The configurable…
Maxwell is software supporting small and midsize mortgage lenders, a digital mortgage platform for mortgage lending institutions from non-depository mortgage banks, to credit unions, to brokers, to community banks.
BeSmartee’s digital mortgage solutions use the automation of data and processes to drive operational efficiencies and competitive advantages for retail, consumer direct and wholesale lenders.
Revvin, formerly MortgageHippo, is a Digital Lending Platform and customer experience engine that gives financial institutions of every scale the ability to offer lending solutions without writing custom code. The digital platform allows lenders to deliver a borrower experience, improve…
Evolve Mortgage Services is a provider of outsourced mortgage solutions headquartered in Frisco, Texas. Their technology supports conventional, FHA, VA, USDA, and non-QM loan types and is continuously being improved with input from customers. Evolve’s proprietary ecosystem lets users…
What is Loan Servicing Software?
Loan Servicing Software focuses on automating post-disbursement loan activity including collections, amortization, collateral tracking, and customer service. These tools are available as standalone modules, but are often included as part of loan management suites and loan origination software that process credit decisions and disburse loans, offering a complete loan life cycle solution.
This software supports commercial loans, consumer, mortgage, and home equity loans and is primarily used by direct lenders such as banks and credit unions. Lenders often choose to service their own loans, increasing profits and improving regulatory compliance. The software enhances workflow efficiency, facilitating loan tracking, portfolio management, and reconciliation. AI is increasingly used to gain customer insights and to identify potential problematic accounts and upsell opportunities.
Loan Servicing Software Features
- Borrower management and communications, statements, and payment reminders
- Customer portals / mobile apps for payments, loan information, and updates
- Collections management, payment tracking, and processing
- Collateral tracking
- Works with multiple loan types and lenders
- Document management, loan, and customer information consolidation
- Manage multiple borrower accounts
- Accepts multiple payment methods
- Support multiple currencies
- Administer penalties and fees
- Automated workflows
- Analytics, dashboards, and reporting
- Loan management, loan origination integrations
- CRM integration
- Mobile apps
Loan Servicing Software Comparison
Consider the following when purchasing Loan Servicing Software.
Use Case: Are your needs satisfied with Loan Servicing Software or would a complete loan management suite including loan origination software best serve your interests?
Loan Servicing Software pricing depends on the features provided and the scale of your operation. Most vendors require obtaining a custom price quote based on your specific requirements. Monthly pricing can range over $1,000.
Frequently Asked Questions
The size of your operation and the features provided drive the cost of loan servicing software. Custom price quotes are usually required. Monthly pricing can exceed $1,000.