LendingPad Pricing, Features, Reviews & Comparison of Alternatives

LendingPad

Loan origination for brokers, bankers & institutions

4.54/5 (13 reviews)

LendingPad overview

What is LendingPad?

LendingPad is an integrated, web-based loan origination system (LOS) for brokers, lenders, banks, credit unions, and institutions. Providing features such as an inbuilt CRM, lead management, campaign management, document storage, real-time reporting, custom workflows, loan tracking, service level agreements, and more, LendingPad is designed to help loan and mortgage professionals to manage the origination process and provide an enhanced customer experience.

For mortgage brokers, LendingPad can be used to originate loans from anywhere that has internet connection and an unlimited amount of users can be added to the same subscription to facilitate collaboration. Users can integrate with third party lead providers to connect with and manage leads in real time, and data can be gathered from consumer online portals, retail branches, in-house loan officers, and call centers.

Loan inventories and characteristics can be tracked within the bankers edition of LendingPad and users can manage documents, create and access paperless loan files, and facilitate cross-department collaboration through custom, intuitive workflows. The inbuilt CRM allows businesses to manage their leads and customers through a client database and assess loan eligibility using real-time data. Credit unions and institutions can also use LendingPad to generate customized pricing, setup eligibility alerts, monitor pipelines, and input service level agreements.
www.lendingpad.com

Pricing

Starting from
$40/month
Pricing options
Value for money
View Pricing Plans

Devices

Business size

S
M
L

Markets

United States

Supported languages

English
LendingPad screenshot: The analytics dashboard provides reports on key performance indicators and loan statisticsConnectedLendingPad screenshot: Users can originate and access loans from anywhere using the LendingPad platform LendingPad Loan Origination System - OverviewMulti-User AccessAlways Up to DateCustomization for LOSReal-time Reporting

LendingPad reviews

Value for money
Features
Ease of use
Customer support
  4.8
  4.5
  4.3
  4.5
David Hamilton

I did not think it was possible.

Used daily for 1-2 years
Reviewed 2019-07-19
Review Source: Capterra

Brilliant

Pros
The number one plus about LP is the cloud technology and ability to work anywhere with decent internet. I was skeptical about coming from deep-pocket lenders to choosing a solution for my own shop. I priced out Encompass the "gold standard" of LOS systems with its own set of quirks and problems. Over $100,000 for the scale needed to do the numbers that we want and that is in the first 18 months. Deployment is nonexistent with cloud-based SAAS platforms. No server, No laborious setup process and under $400 to get my whole team up and going. COST is the elephant in the room in most cases and while not cheap it is in line with the technology needed to do what LOS systems do. In the beginning, Calyx/Encompass was state of the art. However, In today's environment, you can fill a 1003 on a Facebook form. Lending pad makes everything esthetically pleasing and lightning-fast from anywhere on the planet. Kudos and a big Thank you from NorCapital.

Cons
There are only a couple and the team is working daily on new tech. We would like to see an app. The ability to have the client upload from a phone directly to the loan file. Additionally PRICING we need everyone to play ball and have a universal pricing formula so the guys and galls at LP don't need 6 months for each engine. As a broker I would like to have the ability to see pricing from all of our lenders in one dashboard for a specific client. These are not cons they are just wants!

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Africa Archield

Easy to Use for a Disperse Mortgage Company

Used daily for 1-2 years
Reviewed 2019-07-19
Review Source: Capterra

I have found it easier to onboard new people with the software because it is cloud-based and thus easy to use. Also, because it is cloud-based, data is readily accessible by everyone in the company. Several people can be in the same file at once. Multiple people in the file at the same time was never an option with other loan origination systems.

Pros
The software itself is very intuitive. The different areas are organized around topics: borrower details, subject property details, loan details, etc.

Cons
Having used several different loan origination systems, I was missing in software marketing and loan term comparison applications.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Jay Dacey

A turn key solution for a start up brokerage

Used daily for less than 6 months
Reviewed 2019-07-29
Review Source: Capterra

LendingPad gets the job done and the call reporting feature is amazing.

Pros
Lending Pad is easy to use and the pricing structure compared to other "legacy" providers is very favorable.

Cons
The interface isn't as intuitive as other solutions which can take some time getting used to.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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Steven Bray

Somewhat confusing system, poor support

Used daily for less than 6 months
Reviewed 2019-10-24
Review Source: Capterra

Onboarding call was good, but the system is quite complex and not very intuitive. Ongoing support is TERRIBLE. Support is provided through chat. Staff seems not to know their own system and has bad attitude. I even had one staff member intentionally terminate my chat while trying to get a setup question answered. (He seemingly could not answer my question, so he cut me off when I told him he had answered my question.) I thought this system had a lot of promise, but I'll probably be looking for something else again.

Pros
- Cloud based - Seems to be very complete - Good integrations

Cons
- Very poor support - Knowledge base very light and weak - Confusing and complex setup

Response from WEI Technology


Sorry for your poor experience with our support while on your free trial. After reviewing the support log, the setup issue is with an invalid third-party login credential. Pls call the third-party provider to obtain correct credentials first then call your AE who can help further to complete the setup. Thank you.

Rating breakdown

Ease of use
Features
Customer support

Likelihood to recommend: 2/10

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Martin Conde

Lending Pad

Used daily for 1-2 years
Reviewed 2019-08-16
Review Source: Capterra

Its easy to used being web based and allows me to work remote.

Pros
The software is easy to use and the information is easy to access.

Cons
The reports are not as easy as they could be.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

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LendingPad pricing

Starting from
$40/month
Pricing options
Free trial
 
Subscription
View Pricing Plans

Lender's pricing is based on per closed loan with minimum fees/contract.

Brokers: $40/user/month

Lenders/banks/credit unions: $100+/closed loan

Institutions: contact LendingPad for more information on custom pricing plans

LendingPad features

API
Financial Analysis
Real Time Data
Third Party Integration
Workflow Management

Accounting Integration (151 other apps)
Accounting Management (157 other apps)
Activity Dashboard (173 other apps)
Audit Trail (109 other apps)
Automatic Notifications (138 other apps)
Billing & Invoicing (157 other apps)
Compliance Management (148 other apps)
Customizable Reporting (141 other apps)
Data Import/Export (149 other apps)
Electronic Payments (143 other apps)
Expense Tracking (139 other apps)
Invoice Management (202 other apps)
Invoice Processing (130 other apps)
Multi-Currency (136 other apps)
Reporting & Statistics (201 other apps)

Security and privacy

Encryption

Encryption of sensitive data at rest
HTTPS for all pages

Access control

Multi-factor authentication options
This will ask you to sign in with LinkedIn

Videos and tutorials

Additional information for LendingPad

Key features of LendingPad

  • Loan processing
  • Loan submission control
  • Loan origination
  • Loan servicing
  • Loan submission control
  • Payment tracking
  • Pre-qualification
  • HUD settlement statements
  • Integrated vendor services
  • Outsource processing
  • Applications management
  • Campaign planning
  • CRM integration
  • Database access
  • Document storage
  • Financial analysis
  • Multi-location
  • Real time data
  • Real time reporting
  • Real time updates
  • Search functionality
  • Third party integration
  • Workflow management
  • Visual analytics
  • Price management
  • Data capture and transfer
  • Campaign management
  • Collaboration tools
  • Geolocation
  • Warehouse management
  • Data migration
View All Features

Benefits

Manage compliance with LendingPad licensing compliance configuration and standard compliance rules, and ensure data is protected with security measures including SSAE16 reports.

Control day-to-day tasks and processes with customizable workflows, forms, and business logic which can be configured to fit the needs of individuals and teams.

Access a large number of service providers and third party partners such as lead providers or secondary market investors through the LendingPad network which can be accessed by all users of LendingPad.

Benefit from real-time connection to lead providers, campaign management tools, loan tracking, and real-time loan pushed updates through the LendingPad system.

Gain insight into business metrics with customizable, real-time reporting and dashboards for an at-a-glance overview of all channels.