Loan Servicing Software

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Showing 1 - 20 of 49 products
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Showing 1 - 20 of 49 products

HES Lending Platform

HES FinTech is a financial software vendor and technology consultant. We provide the technology backbone to power the full loan lifecycle – from origination, underwriting, and servicing to collections and pipeline performance trac...Read more

5.00 (5 reviews)

Crowdsofts

Crowdsofts is a white label crowdfunding solution for startups and non profit organizations. The cloud-based platform provides benefits such as workflow automation, powerful analytics, back office management, and flexible integrat...Read more

4.50 (2 reviews)

FileInvite

FileInvite is a cloud-based file transfer and document collection solution designed for small and midsize businesses. FileInvite provides file request management, document approvals, digital forms, pre-built templates, e-signature...Read more

4.74 (92 reviews)

Turnkey Lender

TurnKey Lender provides an end-to-end system that automates every step of the lending process, from the loan application and borrower evaluation to origination, underwriting, servicing, collection, reporting, compliance, and more....Read more

4.45 (22 reviews)

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LA Pro

LA Pro provides loan servicing software for lenders of all types and sizes, including banks, nonprofits, tribal lenders, credit unions and third-party services. The software helps users manage various types of lending portfol...Read more

4.64 (14 reviews)

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LOAN SERVICING SOFT

LOAN SERVICING SOFT is just one solution in the MCLSS (Mortgage+Care LOAN SERVICING SOFT) lending, banking and fund administration technology suite. Since 1983 we have provided software and integration services to organizations la...Read more

5.00 (13 reviews)

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AutoPal Software

AutoPal is a cloud-based loan management solution designed for small and midsize loan servicing companies. It offers interest calculation, lease calculation, auditing, loan creation and communication functionalities within a suite...Read more

4.83 (53 reviews)

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The Mortgage Office

The Mortgage Office is a loan servicing solution designed for companies of all sizes. It offers loan tracking, payment processing, document storage, workflow automation and reporting functionalities within a suite. The product is ...Read more

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LoanPro

LoanPro is a cloud-based loan servicing and management solution built on its full-featured API with AWS allowing for complete scalability and a wide variety of business solution integrations such as accounting, CRM, and ERP system...Read more

4.77 (77 reviews)

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The Loan Office

The Loan Office is a cloud-based and on-premise loan servicing solution for enterprises of all sizes. It’s suitable for lending, mortgage and financial service companies. Primary features include loan management, accounting manage...Read more

4.80 (41 reviews)

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Software pricing tips

Read our Loan Servicing Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Construction Loan Manager

Construction Loan Management is a cloud-based loan servicing solution for construction and renovation companies of all sizes. Primary features include pipeline-style loan management, order management, budget tracking, document tra...Read more

4.60 (10 reviews)

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LOANLEDGER

LOANLEDGER is a cloud-based loan servicing solution for enterprises of all sizes. It’s suitable for mortgage firms, financial firms, automobile lending banks, private lenders, governmental agencies, municipalities, venture capital...Read more

3.20 (10 reviews)

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Shaw

Shaw offers a loan and lease servicing solution designed for retail loans. It offers lease management, insurance, fee processing, dealer processing as well as sales tax, property tax and income tax reporting functionalities. The p...Read more

3.50 (2 reviews)

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Margill Loan Manager

Margill Loan Manager is a Windows-based loan servicing and credit management software that supports various loan types including personal, corporate, intercompany, student, auto, litigation, mortgages and lines of credit. Key fea...Read more

4.77 (44 reviews)

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SparkLMS

SparkLMS is a cloud-based loan servicing solution that caters to small businesses. It helps users to to manage various operations involved in loan lending such as lead management, customer relationship management (CRM), loan produ...Read more

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LoanCirrus

LoanCirrus is a digital lending platform for lenders of all types, including consumer finance businesses, digital banks, credit unions, microfinance institutions, and others. The platform supports both in-branch and online borrowe...Read more

4.80 (10 reviews)

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The Nortridge Loan System

Nortridge is a cloud-based and on-premise loan servicing system designed for enterprise lenders. It caters to lenders in consumer finance, branch-based lenders, auto finance and government organizations. Key features include enter...Read more

4.25 (79 reviews)

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Calyx Point

Calyx Software is a cloud-based loan servicing platform that helps users with loan and marketing processes. Calyx Software comes with a variety of tools such as Point,Portfolio Producer, Calyx Network, INK-it, WebCaster tools...Read more

3.47 (43 reviews)

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LOANS! for .Net

LOANS! for .Net is a cloud-based and on-premise loan servicing software for small, midsize and large enterprises. It caters to commercial lenders, insurance companies, mortgage lenders, credit unions, financial organizations and b...Read more

5.00 (1 reviews)

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Bryt

Bryt loan management software is a cloud-based solution designed to aid lending professionals in loan origination, loan servicing, document creation, storage, trust accounting, payment processing and more. Having a centralized das...Read more

4.80 (15 reviews)

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Popular Loan Servicing Comparisons

Buyers Guide

Last Updated: February 22, 2022

Loan servicing businesses are inundated by checks and balances, due diligence, and customer and investor communications. All these tasks would be beyond daunting to take on alone. Luckily, there are many loan servicing software systems on the market offering operation support and automation for loan servicers.

But navigating these complex software systems can be tricky. There’s a ton of different features and capabilities out there. So it’s important that loan servicers pinpoint exactly what their needs are and align them with a specific providers’ offerings. We’ve broken down what’s being offered across the loan servicing software market so you can determine your own must-have features.

Here's what we'll cover:

What Is Loan Servicing Software?
Common Features of Loan Servicing Software
Benefits and Potential Issues with Loan Servicing Tools
Evaluating Loan Servicing Solutions

What Is Loan Servicing Software?

Loan servicing software is a unique combination of capabilities that support the entirety of a loan service’s operation. These capabilities help automate and streamline previously tedious manual tasks like loan origination and creation as well as prospect outreach and management.

While each system is unique, most offer features that complement the entire loan life cycle.

The lifecycle of a loan begins with initial outreach to prospects. The cycle concludes once a client has paid a loan back in full, but then it just resets and the former client becomes a prospective client once again.

After client outreach and marketing, loan providers must complete their due diligence by administering formal applications and processing these applications to determine a borrower’s financial viability and assess risks involved with the loan. Once this is completed, a loan can then be generated, finalized, and funds distributed.

This process, when being spread across numerous clients simultaneously, can be overwhelming. That’s why loan servicing software is such a valuable tool for loan issuers. It can automate much of these steps and provide a secure, organized data management system.

Common Features of Loan Servicing Software

Given all the different hats that loan service businesses must wear, there’s a ton of common software features for their software systems. These include:

Loan origination Create numerous loan types with various combinations of payment options, interest methods, and fees. Expedite the underwriting process through automation.
Loan servicing Automate billing statements and emails notifications for payments. Uphold amortization plans. Automate administration of penalties and fees.
Communication tools Send direct messages and documents through secured communication tools built into each platform. Communicate through SMS messaging. Create and send direct mail.
Client management Run credit checks to obtain client credit scores. Assign and monitor user access using security and permission management. Record client notes to reference down the road.
Investor management Monitor and report on the statuses of private investments. Enable remittance and fund collection with various reconciliation methods.
Payment management Set automated requests for payments. Allow multiple payment options. Automatically withdraw funds from customers.
Analytics dashboard Get an easy-to-understand dashboard display of key metrics across multiple measurements. Automate reporting and customize dashboards with desired analytics.
Electronic signatures Gain efficiency through eliminating the back-and-forth common with paper signatures. Provide a more convenient experience for clients.
Document management Securely create, share, and store key documents between clients and investors.

This is quite the list, but again it’s important to keep in mind all the features that can benefit your loan servicing business. Obviously the must-have loan servicing software features are loan servicing and loan origination. These two core features lay the bedrock for your loan business.

Aside from them, it’s crucial you are able to properly communicate with current and potential clients and investors. This could be in the form of separate customer relationship management software, or you could choose loan software that features strong customer and contact management tools.

Benefits and Potential Issues of Loan Servicing Tools

The benefits of loan servicing software are rooted in the accuracy, automations, and efficiencies they provide. By automating critical and even simple everyday tasks, you can remove the risks of human error. This goes for everything from potential client outreach to payment reminders and even loan detail generations.

With the advanced analytics tools, you’ll have a consistent and accurate view of pinpoint performance data. This unparalleled transparency provides you with the ability to make informed business decisions across your entire operation. Such accuracy in data analysis will help bolster your risk management practices, allowing your loan servicing business to assign risked-based value assessments to potential loanees.

The potential value and benefits provided by loan servicing software systems seem apparent, but a number of issues should be considered when deciding on a system. For example, many loan servicing software systems provide varying levels of customer relationship management software. However, not every system has as in depth of capabilities as you’ll need. That’s why it’s so important for you to analyze current pain points and translate those into business needs and software features that can help accomplish them.

But it’s not just enough to determine what pain points you need your new loan servicing system to overcome now. Consider where you’ll be in the next year to two. What about five? When you’re analyzing your current system, it’s crucial you project potential pain points down the road that the software you adopt now can help you address.

Evaluating Loan Servicing Solutions

Loan servicing software can turn your business around with the efficiencies and organization it provides. But it’s important to keep in mind that not all loan servicing software options are a fit for the specific needs of your business. Just as loan providers complete their due diligence on potential borrowers, the same must be done for a new loan servicing system. This will ensure the new system overcomes troublesome pain points and is designed to grow with the business.

Consider these formalized recommendations and best practices for optimizing the software selection process. We surveyed cross-industry software buyers to determine their methods for most effectively choosing the best software.Two crucial tactics include:

  • Consult team to determine pain points in need of fixing. While new loan servicing software should have sweeping positive benefits across your organization, there should be specific pain points in mind that you want to overcome. The best way to determine these is to meet with teams and get their input on bottlenecks or issues with processes.
  • Read loan servicing software reviews from actual users. The insights featured in software reviews from real loan servicers provide an unparalleled snapshot into key information you need to choose the best system.