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
Contenders | 2024
Starting Price
Available on Request
Free Trial
Product Description
Creatio CRM stands out by empowering organizations to automate and optimize every aspect of customer relationship management with no-code technology. It offers a full suite of tools to build a complete 360-degree customer view and streamline sales, marketing, and service. Read More About Creatio
Creatio Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Workflow Automation
- Customer Segmentation
- Business Process Management
- Collaboration Tools
- Lead Management
- Email Marketing
- Contact Management
- Account Management
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Creatio Features and Usability-Based User Satisfaction Score
Contenders | 2024
A proficient loan servicing software for organizations
Starting Price
Available on Request
Product Description
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 More About Moneylender Professional
Moneylender Professional Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Amortization Schedules
- Loan Modification
- Loan Origination
- Late Fee Management
- Escrow Management
- Customizable Reports
- Interest Calculation
- Ach Integration
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Moneylender Professional Features and Usability-Based User Satisfaction Score
An all-in-one customizable mortgage servicing software
Starting Price
Available on Request
Product Description
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. Read More About TValue
TValue Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Collateral Tracking
- Loan Origination
- Document Management
- Audit Trail
- Loan Modification
- Customizable Reports
- Interest Calculation
- User Access Controls
- View all Features
Affordable and highly flexible loan processing software
Starting Price
Available on Request
Product Description
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. Read More About AMFG
AMFG Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Fee Management
- Credit Bureau Reporting
- Loan Processing
- Loan Modification
- Amortization Schedule
- Customer Portal
- Automated Notifications
- Loan Origination
- View all Features
Emergents | 2024
Comprehensive solution for mortgage and loan management
Starting Price
Available on Request
Free Trial
Product Description
A powerful and versatile loan servicing software, LoanAssist is highly popular. It has useful features such as application management, amortization schedules, and student loans. LoanAssist is user-friendly, agile, and has a minimalistic visual interface. Read More About LoanAssistant
LoanAssistant Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Amortization Schedule
- Credit Scoring
- User Access Controls
- Document Management
- Interest Rate Management
- Loan Restructuring
- Collateral Management
- Automated Notifications
- View all Features
LoanAssistant Features and Usability-Based User Satisfaction Score
A complete and fully inclusive loan servicing tool
Starting Price
Available on Request
Product Description
Lending Pro Software is 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. Read More About Lending Pro Software
Lending Pro Software Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Compliance Tracking
- Collateral Tracking
- Loan Origination
- Investor Reporting
- Escrow Management
- Mobile Access
- Amortization Schedules
- Reporting And Analytics
- View all Features
End-to-end solution for loan processing and management
Starting Price
Available on Request
Product Description
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. Read More About Smart Microfinance Business
Smart Microfinance Business Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Collateral Management
- Reporting And Analytics
- Risk Management
- Loan Disbursement
- Repayment Scheduling
- Document Management
- Credit Scoring
- Mobile Access
- View all Features
Emergents | 2024
Cloud-based fully featured mortgage servicing software
Starting Price
Available on Request
Product Description
CreditOnline helps organizations maintain the entire cycle of loan origination and management. It has novel features such as an audit trail, compliance management, and document management. CreditOnline is highly customizable and provides customer support 24/7. Read More About CreditOnline
CreditOnline Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Multi Currency Support
- Risk Management
- Integration Capabilities
- Credit Scoring
- Customizable Workflows
- Loan Origination
- Fraud Detection
- Notifications And Alerts
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CreditOnline Features and Usability-Based User Satisfaction Score
High Performer | 2024
Smart and completely automated loan processing software
Starting Price
Available on Request
Product Description
AutoCloud is a complete user-friendly platform for NBFCs and finance businesses. It has many useful features such as loan submission control, mortgages, and an audit trail. AutoCloud has in-built reporting templates and a navigable, simplistic interface. Read More About AllCloud
AllCloud Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Interest Rate Management
- Mobile Access
- Document Management
- Credit Scoring
- Payment Processing
- Loan Servicing
- Fraud Detection
- Customer Relationship Management (crm)
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AllCloud Features and Usability-Based User Satisfaction Score
Emergents | 2024
Starting Price
Available on Request
Product Description
Kwik-Loan includes a suite of tools to enhance loan processing and management capabilities. It has innovative features such as collections management, digital signatures, and compliance management. Kwik-Loan is customizable and has a responsive customer support team. Read More About Kwik-Loan
Kwik-Loan Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Compliance Management
- Document Management
- Integration Capabilities
- Collateral Management
- Payment Processing
- Multi Currency Support
- Risk Management
- Automated Underwriting
- View all Features
Kwik-Loan Features and Usability-Based User Satisfaction Score
Contenders | 2024
Most trusted and highly popular loan servicing software
Starting Price
Available on Request
Free Trial
Product Description
HES Lending Software has a robust set of tools that help with all loan processing tasks. It has advanced features such as electronic signatures, auto loans, document management, and audit trails. HES Lending Software is navigable, easy to use, and customizable. Read More About HES FinTech
HES FinTech Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Reporting And Analytics
- Customizable Workflows
- Multi Currency Support
- Credit Scoring
- Automated Underwriting
- Payment Processing
- Loan Servicing
- Integration With Third Party Systems
- View all Features
HES FinTech Features and Usability-Based User Satisfaction Score
A collaborative and modern loan processing solution
Starting Price
Available on Request
Product Description
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. Read More About LoanSifter
LoanSifter Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Foreclosure Management
- Escrow Management
- Customer Portal
- User Access Controls
- Bankruptcy Management
- Fee Management
- Mobile Access
- Automated Loan Boarding
- View all Features
Emergents | 2024
Starting Price
Available on Request
Free Trial
Product Description
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. Read More About TurnKey Lender
TurnKey Lender Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Disbursement Management
- Compliance Management
- Credit Scoring
- Reporting And Analytics
- Loan Origination
- E Signature Integration
- Multi Channel Support
- Collateral Management
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TurnKey Lender Features and Usability-Based User Satisfaction Score
Best loan servicing software for financial companies
Starting Price
Available on Request
Product Description
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. Read More About Loan Performer
Loan Performer Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Fixed Deposits
- Biometric Integration
- Recurring Deposits
- Accounting
- Mobile Banking
- Reporting
- Credit Scoring
- Document Management
- View all Features
A comprehensive mortgage loan servicing software
Starting Price
Available on Request
Product Description
NBFC software offers end-to-end loan processing solutions for start-ups and small-medium enterprises. It has many novel features such as automatic fund distribution, collections management, and business loans. NBFC provides good support to users and is scalable. Read More About NBFC Software
NBFC Software Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Npa Management
- Compliance Management
- Accounting Integration
- Repayment Scheduling
- Automated Notifications
- Multi Currency Support
- Collateral Management
- Loan Disbursement
- View all Features
Contenders | 2024
Starting Price
Basic Plan
$ 42
Full License
Free Trial
Product Description
Easy-to-use SaaS cloud-based loan management software solution. Simple user interface and flexible for various business use cases. Various analytical reports and customer notifications. Read More About Advance Loan Manager
Advance Loan Manager Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Integration Capabilities
- Multi Currency Support
- Customer Relationship Management (crm)
- Interest Rate Management
- Compliance Management
- Document Management
- Reporting And Analytics
- Loan Origination
- View all Features
Advance Loan Manager Features and Usability-Based User Satisfaction Score
Contenders | 2024
Starting Price
Available on Request
Free Trial
Product Description
LoanPro is a cutting-edge, API-first lending and credit platform designed to streamline origination, servicing, collections, and payments for all types of loans and credit accounts. It empowers financial institutions to innovate quickly and scale efficiently without compromising on security or regulatory requirements. Read More About LoanPro
LoanPro Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Automated Notifications
- Api Integration
- Customizable Workflows
- Mobile Access
- Payment Processing
- Document Management
- Fee Management
- Risk Management
- View all Features
LoanPro Features and Usability-Based User Satisfaction Score
Contenders | 2024
Starting Price
Available on Request
Free Trial
Product Description
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 More About ABLE Platform
ABLE Platform Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Loan Servicing
- Third Party Integrations
- Risk Assessment
- Data Security
- Automated Underwriting
- Credit Scoring
- Customer Portal
- Multi Language Support
- View all Features
ABLE Platform Features and Usability-Based User Satisfaction Score
Contenders | 2024
Starting Price
Available on Request
Product Description
LAPS is revolutionizing the industry with its cutting-edge software, offering innovative solutions that drive significant transformation. Its advanced features streamline processes, enhance efficiency, and set new standards, making it an indispensable tool for modern businesses seeking growth and optimization. Read More About LAPS
LAPS Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Automated Notifications
- Amortization Scheduling
- Loan Origination
- Compliance Tracking
- Data Import/export
- Document Management
- Investor Reporting
- Payment Processing
- View all Features
LAPS Features and Usability-Based User Satisfaction Score
Contenders | 2024
Fully Customizable Audit Tool, Assessing Unit-Leve
Starting Price
Available on Request
Product Description
With Arukus Audit & Compliance Management System, microfinance institutions gain the power to seamlessly uphold compliance standards across all their processes and sub-processes, spanning every branch within the organization. Read More About Arukus Audit & Compliance
Arukus Audit & Compliance Caters to
StartUps
SMBs
Mid-Market
Enterprises
Features
- Savings Account Management
- Reporting And Analytics
- Transaction Management
- Fixed Deposit Management
- User Access Control
- Recurring Deposit Management
- Customer Management
- Loan Management
- View all Features
Arukus Audit & Compliance Features and Usability-Based User Satisfaction Score
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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.
Loan Servicing Software Reviews
LoanPro
5
Helm Capital went through several outdated and archaic providers before finally getting LoanPro a few years ago. We couldn't be happier! We've almost entirely automated collections. It was a struggle for us to find good collectors, and since LoanPro automatically follows up on payments, we haven't needed to staff the same workforce.
Moneylender Professional
5
They have given me a new life. With Moneylender, the workers are very respectful and take the time to find the right loan that would be suitable for you and your income.
LAPS
5
Good experience, go for it! Easy to use, it is value for your money, and I would recommend it to everyone who is interested. Please don't hesitate. You cannot go wrong with this company and their devices.
