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Loan Servicing Software

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Bryt logo
4.8
(18)

FULL-FEATURED LOAN SERVICING SOFTWARE

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Bryt Software streamlines your loan servicing process. From automated payment processing to seamless borrower communication, we simplify your operation, reduce errors, and improve efficiency. Bryt is intuitive and easy to use. Simple, but powerful. Competitively priced. Easy to implement.

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TaskSuite logo
5.0
(2)

Lending Simplified, Success Amplified.

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TaskSuite revolutionizes lending with a comprehensive platform that simplifies origination, servicing, and loan management. Enhance efficiency, decision-making, and customer satisfaction with our all-in-one solution.

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The Mortgage Office logo
4.8
(259)

Web-based mortgage and loan servicing software

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The Mortgage Office is a web based loan servicing software which helps to streamline, manage and automate current loan servicing tasks

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Creatio CRM logo
4.8
(119)

Boost marketing, sales and service performance!

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Creatio CRM for Loan Servicing enables companies to оrganize the lending process to ensure top-notch customer service, automate customer reminders, deliver loan self-service capabilities, and ensure consistent data updates at every stage.

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Sopra Financing Platform logo
4.5
(2)

Finance software for managing lending activities

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SFP Wholesale Servicing is designed to support asset-based lending by financial organizations. With a SaaS-first approach, it ensures a low Total Cost of Ownership, featuring minimal setup fees and fixed costs through a 'pay-per-use' model. The offering includes standard

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The Nortridge Loan System logo
4.3
(80)

Enterprise-grade loan servicing software

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The Nortridge Loan System is a flexible servicing platform that enables highly configurable loans, multiple product lines & expansion to additional markets

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Mortgage Automator logo
4.9
(72)

Loan origination & servicing software for private lenders

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Mortgage Automator is a loan origination and servicing software designed to help North American private/ hard money lending businesses automate their operations, increase efficiency, and focus their efforts on growth.

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Centrex logo
4.9
(8)

Cloud-based CRM software for finance sector

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Centrex is a cloud-based customer relationship management (CRM) software for the finance sector, which enables organizations to manage contacts, deals, team productivity, loan portfolio and email/text marketing campaigns on a centralized platform.

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LoanPro logo
4.8
(78)

Full-service lending management platform

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LoanPro Software was designed by lenders for lenders. Now you can create, manage, service, & collect with ease with LoanPro Software.

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Margill Loan Manager logo
4.8
(47)

Loan servicing and management solution for lenders

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Margill Loan Manager is an installed or cloud-based loan servicing solution, which assists lenders with servicing loans, lines of credit, receivables and leases. Key features include interest computation, custom fields, data export, multi-currency, customizable reporting and revenue tracking.

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timveroOS logo
5.0
(4)

TIMVERO presents timveroOS, the most intelligent lending OS.

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timveroOS offers a complete loan servicing platform, streamlining lending at scale, managing disbursements, calculations, alerts, payments, delinquent loans, and collections. Flexible with SDK and featuring analytics, with our platform, banks can increase profits by 20%.

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OIXIO Leasing | Loans logo
(0)

Leasing and consumer credit contract management solution.

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OIXIO Leasing | Loans is a specialized leasing and credit contract management solution for companies whose main business is financing the acquisition of various assets (leasing) and/or providing consumer credit.

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abcoa Deal Pack logo
4.8
(134)

Designed for used car dealerships and finance companies

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Deal Pack is a comprehensive software designed specifically for used car dealerships and finance companies. With over 40 years of industry experience, Deal Pack offers a wide range of features and capabilities to streamline operations and simplify daily tasks.

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nCino’s Mortgage Suite logo
4.8
(125)

Mortgage technology for the modern lender.

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Award-winning developer of mobile-first technology for modern mortgage lenders. As a leading homeownership platform, SimpleNexus unites the people, systems, and stages of the mortgage process into an end-to-end solution that spans engagement, origination, closing, and business intelligence.

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FileInvite logo
4.7
(99)

Automated cloud-based document collection system for clients

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Automate the process of collecting loan information and documents from your clients with our simple and secure interface.

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LendingPad logo
4.4
(133)

Loan origination system for mortgage brokers and lenders

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Ability to export into excel file for uploading to a servicing platform of your choice.

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The Loan Office logo
4.8
(41)

Flexible loan servicing software for small lenders

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The Loan Office is a loan servicing system designed for small lenders, including mortgage lenders, consumer finance lenders, hard-money lenders & note servicers

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Construction Loan Manager logo
4.8
(29)

Loan servicing solution for construction businesses

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Construction Loan Manager by Land Gorilla is a cloud-based loan servicing solution designed to help construction and renovation businesses of all sizes manage their lending processes. The platform enables users to handle the entire loan procedure and streamline pipelines.

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Turnkey Lender logo
4.6
(36)

Award-Winning Lending Management Software

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TurnKey Lender`s intelligent automation of the entire loan management process allows for flexible loan disbursal & servicing. The system comes as part of an end-to-end tools suite that can be easily integrated with your core lending solution or be used within our lending automation platform.

Read more about Turnkey Lender

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Built logo
4.5
(33)

Manage lien waivers quickly. Pay vendors immediately.

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Streamline construction building by using the Built Financial Tool. Built connects directly to popular construction finance software, customize your integration through open APIs.

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Plaid logo
4.4
(40)

Platform that enables apps to connect with bank accounts

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Plaid is a technology platform which allows users to create connections between applications and bank accounts to authenticate accounts, check balances in real time, verify identities, validate income, pull transaction data, and verify borrower assets

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Loandisk logo
4.6
(24)

Loan origination and servicing for micro finance businesses

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LoanDisk is a cloud-based loan origination solution, which assists microfinance businesses with managing customer loans and repayments. Key features include fee management, loan processing, automated messaging, predefined templates, account management, and reporting.

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Help With My Loan logo
5.0
(15)

Our goal is to help you reach yours!

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Help With My Loan (HWML) is software that automates the frontend underwriting and lender matching process for Commercial, Residential, Business and Personal loans.

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Finflux logo
4.6
(22)

Lending Democratized

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Finflux is a cloud-native lending solution trusted by 60+ global lending institutions to support 4 million+ borrowers with an active loan portfolio of $9 billion+.

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inGain SaaS Loan Management System logo
4.7
(18)

No-code SaaS lending solution for lenders, fintechs & others

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No-code SaaS loan management system for traditional & fintech lenders and businesses in non-finance industries.

System provides full loan life-cycle management and automation including loan applicant processing, loan origination and servicing, debt collection and collateral management.

Read more about inGain SaaS Loan Management System

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Here's what we'll cover:

Buyers Guide

Loan Servicing

Loan servicing involves managing administrative tasks from the time of loan disbursement until repayment. A key part of the process is amortization, which requires complex calculations related to interest, principal amount, and penalties. Accurate calculation of these amounts is crucial for profitability. Loan servicing involves engaging with customers to cater to their requests and queries.

Loan servicing software can help manage these tasks and minimize the chances of delinquency. With better process management, the tool reduces turnaround time, which in turn improves customer experience. We’ve prepared this guide to help you select the right loan servicing software for your business. Here is what we’ll cover:

What is loan servicing software?

Loan servicing software is a tool that automates post-disbursement credit decisions, collections, and borrower management. Automation of loan servicing helps optimize collections and ensure regulatory compliance through accurate amortization schedules and effective collateral tracking.

The software helps improve user experience by simplifying the process workflows and customer experience by reducing the process turnaround time.

Some loan servicing solutions also offer features to support lending functions such as loan origination, credit checks, underwriting, and document management. 

What are the deployment options for loan servicing software?

Deployment options play an important role while shortlisting software products. Here are the two main deployments for loan servicing software: 

Cloud-based deployment (SaaS): Software vendors host these solutions on their own or third-party servers. They bear the responsibility of the maintenance and support for these solutions. Users can access these solutions over the internet on computers or smartphones. Cloud-based solutions are available on subscription-based pricing models.

On-premise deployment: Users host these solutions on their own servers or computers. They take care of the maintenance, support, updates, and data storage themselves. Users can access on-premise tools through applications installed on computers within business premises. The pricing model of these solutions is usually based on a one-time per-user license fee.

Key question to ask a SaaS vendor: Does your product have a native mobile app?

Key question to ask an on-premise vendor: Does your product offer a self-service portal? 

What are some common features of loan servicing software?

Loan servicing solutions offer a host of features. Here are some of the most common ones:

Borrower management: Create a borrower database or manage co-borrowers and guarantors. Manage borrower financials and record reasons for defaults. Some tools also offer borrower portals for borrowers to make payments, update personal information, and access statements in real-time.

loan origination

Borrower details in AutoCloud (Source)

Collections management: Collect payments online and/or through automated clearing house (ACH) processors. Some tools also facilitate collecting cash payments by partnering with cash collection stores or collection agents.

collections management

Collection details in ezyCollect (Source)

Amortization: Create and manage amortization schedules. The feature helps create payment plans such as regular, irregular, lump-sum, or interest-only. Users can also add fees, penalties, and taxes to the repayment amount.

amortization

Amortization schedule in Lendstream (Source

Collateral tracking: Track collaterals and documents attached to collaterals across multiple lines of credit, such as commercial and retail loans. Attach a single collateral to multiple loans. The feature also helps check the status of collaterals through extensive reports and divide them as active or inactive.

collateral tracking

Collateral details in Lacoda (Source)

Key question to ask a vendor before you buy: What are the additional features in your product that could be useful to my business?


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Note: The applications selected in this article are examples to show a feature in context, and are not intended as endorsements or recommendations, obtained from sources believed to be reliable at the time of publication.