Best Loan Servicing Software

Best loan servicing software includes Moneylender Professional, TValue, AMFG, LoanAssistant, and Lending Pro Software. This auto loan servicing software helps manage customer requests, information, and queries through a customer portal. Many of these tools are available as modules or integrated parts of loan management or origination solutions.

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List of 20 Best Loan Servicing Software

Showing 1 - 20 of 59 products

Contenders | 2024

Process-driven CRM for marketing, sales, service.

Creatio is the global supplier of no-code platform for industry workflows automation and CRM. Creatio’s customers enjoy the freedom to own their automation. Freedom is provided through unlimited customization, the ability to build apps without a line of code and a universe of ready-to-use templates and connectors. Read Creatio Reviews

Contenders | 2024

A proficient loan servicing software for organizations

MoneyLender Professional is a perfect loan software for investors, bankers, and mortgage companies. It has advanced features such as accounts management, auto loans, and collateral tracking. Moneylender is a user-friendly platform that can be customized. Read Moneylender Professional Reviews

Emergents | 2024

An all-in-one customizable mortgage servicing software

TValue is an innovative tool that specializes in the calculation of amortization schedules. It has various features such as loan processing, collection management, and investor management. TValue is very easy to use, flexible and has good customer service. Learn more about TValue

Emergents | 2024

Affordable and highly flexible loan processing software

AMFG is a fully featured loan software that serves small and medium enterprises. Some of its unique features include applications management, construction loans and automatic funds distribution.AMFG supports various operating systems and is scalable. Learn more about AMFG

Emergents | 2024

Comprehensive solution for mortgage and loan management

A powerful and versatile loan servicing software, LoanAssist is highly popular. It has useful features such as application management, amortization schedule, and student loans. LoanAssistant is user-friendly, agile and has a minimalistic visual interface. Learn more about LoanAssistant

Emergents | 2024

A complete and fully inclusive loan servicing tool

Lending Pro Software is a reliable mortgage loan servicing software that generates on time statements and reports. It has features such as collateral tracking, loan processing, and investor management. Lending Pro is affordable, versatile, and easy-to-use. Learn more about Lending Pro Software

Emergents | 2024

End-to-end solution for loan processing and management

Smart MicroFinance Business is designed to serve banks and investment companies. It has many diverse features such as loan processing, accounting management, and auto loans. Smart MicroFinance Business has responsive customer support and is user-friendly. Learn more about Smart Microfinance Business

Emergents | 2024

Cloud-based fully featured mortgage servicing software

CreditOnline helps organizations maintain the entire cycle of loan origination and management. It has novel features such as audit trail, compliance management, and document management.CreditOnline is highly customizable and provides customer support 24/7. Learn more about CreditOnline

High Performer | 2024

Smart and completely automated loan processing software

AutoCloud is a complete user-friendly platform for NBFC's and finance businesses. It has many useful features such as loan submission control, mortgages and audit trail.AutoCloud has in-built reporting templates and a navigable simplistic interface. Read AllCloud Reviews

Most Reviewed

Emergents | 2024

Web-based flexible mortgage loan servicing platform

Kwik-Loan includes a suite of tools to enhance loan processing and management capabilities. It has innovative features such as collections management, digital signature, and compliance management. Kwik-loan is customizable and has a responsive customer support team. Learn more about Kwik-Loan

Contenders | 2024

Most trusted and highly popular loan servicing software

HES Lending Software has a robust set of tools that help in all loan processing tasks. It has advanced features such as electronic signature, auto loans, document manager and audit trails. HES Lending Software is navigable, easy to use and customizable. Read HES FinTech Reviews

Emergents | 2024

A collaborative and modern loan processing solution

LoanSifter is a holistic solution for banks, loan officers and mortgage managers. It has many advanced features such as investment management and credit reporting. A cloud-based solution, LoanSifter is popular due to its agility and minimalistic interface. Learn more about LoanSifter

Emergents | 2024

Award-winning AI-Based End-to-End Digital Lending Management SaaS Platform for SMEs and Enterprise Businesses including Banks, Credit Unions, Finance Companies, In-house Lenders, Non-profits, and Governments. Learn more about TurnKey Lender

Emergents | 2024

Best loan servicing software for financial companies

Loan Performer is a completely inclusive software designed for microfinance organizations. It has an impressive range of features such as investment banking. compliance management and securities management. Loan performer is convenient, scalable and user-friendly. Learn more about Loan Performer

Emergents | 2024

A comprehensive mortgage loan servicing software

NBFC software offers end-to-end loan processing solutions for start-ups and small-medium enterprises. It has many novel features such as automatic funds distribution, collections management, and business loans. NBFC provides good support to users and is scalable. Learn more about NBFC Software

Contenders | 2024

Easy to use SaaS cloud-based Loan management software solution. Simple user interface and flexible for various business use cases. Various analytical reporting and customer notifications. Read Advance Loan Manager Reviews

Contenders | 2024

LoanPro is a fully featured Loan Servicing Software designed to serve SMEs, Enterprises. LoanPro offers Application Management, Customer Database, Student Loans, Accounting Management, Compliance Management at one place. Read LoanPro Reviews

Contenders | 2024

Loan origination and loan management software

ABLE Platform completely automates the processes of loan origination and loan management for banks, fintechs, retail lenders and microfinance. Manage incoming loan applications, service disbursed loans, configure the loan product catalog, built-in dashboards and more. Read ABLE Platform Reviews

Software by

LAPS is a fully featured Loan Servicing Software designed to serve SMEs, Startups. LAPS provides end-to-end solutions designed for Windows. This online Loan Servicing system offers Student Loans, Compliance Management, Automatic Funds Distribution, Auto Loans, Fee Management at one place. Read LAPS Reviews

Software by Jurismedia inc

Margill Loan Manager is one of the best loan management software used by agencies, governments, lenders, and companies. It provides features like accounting management, loan processing, collections management, business loans, and amortization schedule. Read Margill Loan Manager Reviews

What Is Loan Servicing Software?

Loan servicing software application automates post-disbursement operations, including collections, collateral tracking, and amortization.

Loan origination and servicing software, or commercial loan servicing software for private lenders, is a software solution designed to help lenders and microfinance institutions improve their operational productivity. Loan processing software for private lenders enables you to manage your customers in different geographical locations through a unified platform. It simplifies loan management processes, enhances customer experience, and helps you make better evaluation decisions.

From lead management, loan document collection, and organizing client data for underwriters to evaluating potential borrowers’ viability, finalizing details, and keeping tabs on loan repayment, commercial loan collection software for private lenders supports various procedures.

Loan origination and servicing software are known for their cost-effectiveness, scalability, agility, and flexibility. Besides managing the different aspects of the loan portfolio, the best loan servicing software for private lenders eliminates the possibility of human error and provides a better user experience.

Nowadays, loan collection software is highly preferred by financial institutions and lenders to enhance the efficacy and transparency of their money-lending solutions and improve the accuracy and speed of loan applications.

Features of Loan Servicing Software for Lenders

Commercial loan underwriting software offers valuable features for enhancing customer service and boosting operational efficiencies. The best loan servicing software for private lenders provides the following useful features:

1. Data Security:

Loan collection software for private lenders should be capable of protecting sensitive customer data. A fully-featured commercial loan tracking software has robust user security, network security, and physical security features to keep data loss and cyberattacks at bay. It also allows you to choose who can access your confidential data.

2. Contact Management:

Loan origination and servicing software offers a contact management feature to help you reinforce your business relationships. This feature offered by mortgage loan servicing software for small lenders also lets you fine-tune client communication and respond to potential clients faster.

3. Client Management:

This feature in loan origination software allows you to evaluate if a prospective borrower is eligible for a loan. Commercial loan collection software also enables you to carry out credit checks seamlessly to ensure that a potential client can handle borrowing money.

4. Online Payment:

Loan collection software for private lenders allows you to collect payments online within the loan collection software.

5. Loan Calculator:

This feature offered by mortgage loan assistant software for small lenders automatically calculates a borrower’s monthly EMI payments and the total interest paid by the borrower over the loan duration.

6. Bank Integration:

Good loan origination and servicing software systems come with a bank integration feature to facilitate a smooth lending process.

7. Mobile Application:

The best loan origination software has an integrated mobile application to simplify the collection process. Millennial customers prefer simple and easy to use platforms for managing loan history, interest rates, and other loan processes. Therefore, increasingly, lenders are embracing loan application software with an integrated mobile application to help borrowers manage their loan terms.

8. Document Management:

Gone are the days when money lenders used to maintain separate files for each loan customer. Mortgage loan servicing software for small lenders offers strong document management features to help you easily store, search, systematize, and recover loan-related documents. This feature, provided by the best loan servicing software for small businesses, enables you to track a lost record effortlessly.

9. Guarantor Management:

The loan origination and servicing software offers a guarantor management feature to help you access guarantor information as and when required.

10. Third-party Integration:

A high-performance loan underwriting software is compatible with all types of third-party solutions. This feature offered by loan origination and servicing software saves time and eliminates the need to export or import data manually.

11. Investor Tracking:

You can monitor investor allocations and certificates with efficient loan underwriting software for private lenders. At the same time, you can also track the total amount of capital invested.

12. Multichannel Communication:

The best loan tracking software offers this feature to enable you to create different notification templates for your clients. The multichannel communication feature enables you to send alerts and notifications to your clients via text messages, phone calls, and emails.

13. Credit Risk Assessment:

A comprehensive commercial loan application software systems offer a credit risk assessment feature to keep deceptive activities at bay. Loan collection software collects the prospective borrower’s data and analyzes the same, thus automating the credit approval process.

14. GPS-based Location Tracking:

The best loan servicing software for small businesses comes with a real-time GPS tracker to track collection agents easily.

15. 24/7 Technical Support:

Loan underwriting software for small businesses offers round-the-clock high-quality technical assistance to their customers. A highly proficient technical staff is assigned to resolve your queries and complex problems.

These are some of the impressive features of the best loan origination software for enhancing your money-lending experience and making the process trouble-free. Apart from the features listed above, commercial loan servicing software for private lenders offers basic features such as a built-in credit scoring tool, cross-browser compatibility, and multi-device compatibility. These handy features offered by loan assistant software simplify your tasks and help you provide your clients with the best of your services.

Benefits of Using The Best Loan Servicing Tools

Commercial loan application software offers financial institutions, money lenders, and debt collectors multiple benefits. Here are some of the remarkable benefits offered by mortgage loan tracking software for small lenders:

1. Reduces Paperwork:

When a physical document is misplaced or lost, it becomes extremely difficult to trace the lost record amidst countless physical files. Moreover, manually creating and managing files consume a lot of time and take more manpower to complete even the simplest errand. Mortgage loan processing software for small lenders helps you embrace paper-free practices to eliminate all the challenges caused by paperwork. It facilitates quick and easy tracking of all documents and also saves time, thus, enabling you and your team to focus on more important tasks such as customer relationship management.

2. Mitigates Calculation Errors:

Loan underwriting software for private lenders maximizes automation and reduces the margin of errors to a great extent.

3. Multi-Currency Support:

The best loan assistant software offers multi-currency support to help you deal with loans in the currencies needed. This is a noteworthy feature for lending businesses that operate in multiple nations.

4. Boosts Revenue:

Mortgage loan processing software for small lenders helps you identify risks and keep tabs on the overdue loan amount. It also helps you devise strategies to handle emergencies efficiently. Since loan tracking software for small businesses enables you to work competently, you gradually witness a dramatic increase in your revenue.

5. Enhances Transparency:

Loan tracking for small businesses offers a unified platform for adding, storing, modifying, and managing borrowers’ information in the form of a database, which helps you track progress and analyze the stored data in the future. It enables you to maintain transparency within your organization and between borrowers, regulators, and investors.

These are a few reasons why finding efficient loan-tracking software is essential for your business. Suppose you want to grow and transform your financial institution and add massive value to your business model. In that case, you should immediately consider investing in high-tech loan underwriting software for private lenders.

Countless loan underwriting software solutions are available in the market today. However, before investing in loan application software for small businesses, pick a simple, intuitive, and clean user interface to make your loan management task easier.

Be sure to ask yourself the following questions when considering the purchase of commercial loan servicing software for small businesses:

  • Which features do you want in your loan origination and servicing software to advance your business processes?
  • Who will use the loan tracking software?
  • What is your budget for the new loan servicing software for small businesses?
  • Does the loan tracking software for small businesses support your long and short-term business goals?
  • Do small lenders' mortgage loan application software offer reporting, credit scoring, and analytics tools?
  • Does the loan processing software for private lenders offer human customer service?
  • Does the vendor provide comprehensive training?
  • Does the vendor offer a free trial period so that you can assess the loan origination and servicing software before making the final purchase decision?

Asking these questions will help you choose the best-fit software for your business. Here are a few more ways to find out if loan origination software is effective or not:

  • Read customer reviews about the commercial loan assistant software on reputable software review websites;
  • Do some online research to find out if the loan origination and servicing software you plan to purchase has bagged any prestigious industry awards.
  • Make sure the software is easy to install, learn, and use.
  • Make sure if your loan processing software can be customized according to your business requirements.
  • Find out if the loan underwriting software can be integrated with your ERP or CRM software.
  • Find out if the vendor offers a free software demo.

Last, do not count on advertisements and information on the vendor’s website when purchasing. It is advisable to choose commercial loan servicing software for private lenders that is versatile enough to work with different types of loan products.

A high-performance commercial underwriting software system is an asset for your business; therefore, you should carefully choose the best loan servicing software for small lenders by adhering to the abovementioned tips.

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Last Updated: January 02, 2024