Best Loan Servicing Software
Loan Servicing Software automates the loan lifecycle from origination, credit decisioning, payment processing and collections, to accounting and reporting.
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A cloud-based loan origination software for brokers and lenders of all sizes. It includes a lending CRM to convert leads to borrowers and customizable pipeline views. The software provides pre-built, customizable web forms that allow brokers and borrowers to select loan programs…
Encompass from ICE Mortgage Technolgoy (formerly Ellie Mae) is an all-in-one mortgage management solution for lenders.
FUNDINGO loan management software, is a solution designed to streamline and enhance the loan lifecycle for businesses. It consists of three primary modules:
FUNDINGO Origination: This module focuses on tracking and monitoring the origination of loans. It is designed to help businesses manage their loan pipeline and renewals effici…
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 t…
Belgian company Turnkey Lending offers their straightforwardly named "Lending Software," unsurprisingly a loan origination, described as offering full-service features but for small to midsized financial institutions.
LoanAssistant is a loan servicing software add-on for QuickBooks. The software offers tracking and reporting tools for users to keep track of multiple loans and credit lines simultaneously.
HiEnd Systems (now presented as HES) headquartered in Toronto with offices in the UK and Balrus, offers loan lifecycle management and servicing software for a range of needs like commercial lending, alternative or microfinance lending, or peer-to-peer lending.
Axe Credit Portal is described as a credit automation platform to assist in loan origination and processing, from Tunisian company axefinance.
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Learn More About Loan Servicing Software
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
- Amortization
- Accounting
- 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?
CRM Integration: Evaluate how your Loan Servicing Software options will integrate with your CRM system.
Pricing Information
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.
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Frequently Asked Questions
What does Loan Servicing Software do?
What are the benefits of using Loan Servicing Software?
What are the best Loan Servicing Software products?
These are some of the popular Loan Servicing Software products.
- LoanPro
- The Mortgage Office
- Nortridge
- Turnkey Lender
- Centrex
- Mortgage Automator
- LoanAssistant
- AutoPal
- Margill
How much does Loan Servicing Software cost?
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.