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Loan Origination Software

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Showing 1 - 25 of 144 products

C2 Covalent

C2 Covalent is a cloud-based loan origination solution designed to help banks, credit unions and financial institutions automate the processing of loans. Accessible via a terminal, laptop, tablet or mobile device, the platform enables the users to process ...Read more about C2 Covalent

No reviews yet

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 available both in cloud-ba...Read more about The Mortgage Office

Mortgage Automator

Streamline your lending operations and drive growth with Mortgage Automator - a powerful loan origination and servicing software. Designed specifically for North American private and hard money lending businesses, the platform enables lenders to automate c...Read more about Mortgage Automator

SBS Financing Platform

SBS Financing Platform is a modular platform designed to boost the efficiency of asset financiers worldwide. Trusted by 200+ clients with 500+ implementations in 50+ countries. It simplifies the entire lending process, from the front to the back office, ma...Read more about SBS Financing Platform

4.5

(2 reviews)

Centrex

Centrex is a cloud-based finance customer relationship management (CRM) solution, which helps enterprises manage client interactions, revenue generation and loan portfolio. Other features include custom workflows, override/SlowPay calculator, contact manag...Read more about Centrex

4.9

(8 reviews)

ACTICO Credit Decision Platform

ACTICO Credit Decision Platform is a robust and highly scalable platform for automating credit origination and decisioning processes. Based on a powerful graphical decision management suite (no code/low code approach), the system allows the implementation,...Read more about ACTICO Credit Decision Platform

No reviews yet

timveroOS

TIMVERO introduces timveroOS, our cutting-edge lending operating system, crafted with the contemporary requirements of lenders in mind. Our end-to-end solution streamlines all processes into a single, easy-to-use workflow, giving banks the ability to effor...Read more about timveroOS

5.0

(4 reviews)

BNTouch Mortgage CRM

BNTouch Mortgage CRM is a fully integrated digital mortgage system, CRM, marketing, and POS tool offering a comprehensive mortgage business growth platform for loan officers and mortgage companies. BNTouch Mortgage CRM includes an extensive suite of f...Read more about BNTouch Mortgage CRM

LendingPad

LendingPad is a cloud-based mortgage loan origination system (LOS) that helps businesses streamline and manage loan origination processes and improve customer experience. With specific editions for brokers, lenders, banks, credit unions, and institutions, ...Read more about LendingPad

TaskSuite

TaskSuite is an advanced technology solution designed to simplify complex loan management processes for professionals in the lending industry. The user-friendly platform is accessible to users with varying degrees of technical expertise, from small busines...Read more about TaskSuite

5.0

(2 reviews)

MBS Highway
MBS Highway

MBS Highway is a mortgage software designed to help advisors improve their batting average and turn conversations into applications. Key features include social studio, open house flyers, loan advisor, and presentation expressway. Teams using MBS Highway...Read more about MBS Highway

Floify
Floify

Floify is a cloud-based point-of-sale solution designed for the mortgage industry that helps automate and manage all processes of loan origination. Designed for all business sizes, it provides a web-based portal to streamline communications among lenders, ...Read more about Floify

Help With My Loan
Help With My Loan

At HWML, we have automated the approval process and requirements for over 300 banks across the U.S. in the full spectrum of lending across Commercial, Residential, Business, and Consumer loans -- with a 95% funding rate. Through surveying 225 lenders, brok...Read more about Help With My Loan

Construction Loan Manager
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 tracking, accounting manageme...Read more about Construction Loan Manager

LOAN SERVICING SOFT
LOAN SERVICING SOFT

LOAN SERVICING SOFT is the most advanced Loan Servicing Software on the market! Features: Automated Billing, ACH Electronic Payments, Borrower/Investor Web Portals, QuickBooks Integration. Optional Add-On’s: Doc Prep, Fund Administration, Metro2 Credit ...Read more about LOAN SERVICING SOFT

nCino’s Mortgage Suite
nCino’s Mortgage Suite

Unlock new levels of efficiency and profitability with nCino’s Mortgage Suite (formerly: SimpleNexus). The cloud-based solution automates application, origination, and closing, delivers modern customer convenience, surfaces data insights, and simplifies in...Read more about nCino’s Mortgage Suite

The Loan Office
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 management, automated clearing h...Read more about The Loan Office

LoanMAPS
LoanMAPS

LoanMAPS is an all-in-one origination software, designed to effortlessly streamline the loan origination process, ensuring accuracy and cost-effectiveness. The solution helps users set new industry standards by seamlessly combining traditional essentials w...Read more about LoanMAPS

5.0

(9 reviews)

Bryt
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 dashboard, it caters to diffe...Read more about Bryt

LoanBoss
LoanBoss

LoanBoss is a commercial real estate software that helps real estate investors build their portfolios and manage debt through centralization, visualization and automation. The platform generates custom debt reports. LoanBoss creates a comprehensive data...Read more about LoanBoss

Creatio CRM
Creatio CRM

Creatio CRM is an all-in-one platform that helps businesses manage the customer and revenue processes. It serves a variety of industries such as banking, credit unions, insurance, and telecommunications. The platform provides a unified CRM experience, enab...Read more about Creatio CRM

Baseline
Baseline

Baseline serves as a comprehensive solution for real estate private lenders. The platform streamlines the process of originating and servicing loans, offering online experiences for borrowers, and managing investors and brokers from a single, centralized s...Read more about Baseline

5.0

(7 reviews)

Fintech Market Core System
Fintech Market Core System

Fintech Market's Loan Management System is an all-in-one platform for financial services providers ready to be implemented to streamline loan processes and risk. The system is designed to be a reliable tool for different business types, the platform's wi...Read more about Fintech Market Core System

5.0

(7 reviews)

FileInvite
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 capabilities, client port...Read more about FileInvite

LendAPI
LendAPI

LendAPI is a digital onboarding platform designed to help banks and financial institutions streamline account opening and loan origination processes. The platform provides a product studio and credit decision engine and allows tenants to build custom credi...Read more about LendAPI

5.0

(6 reviews)

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Buyers Guide

This detailed guide will help you find and buy the right loan origination software for you and your business.

Last Updated on January 27, 2025

What is loan origination software?

Loan origination software is a specialized platform financial institutions use to manage and standardize the loan originating process, from application submission and document verification to credit approval. The software automates manual tasks such as document management, compliance verification, and underwriting, helping reduce errors, improve operational efficiency, and shorten turnaround times for borrowers.

Loan origination software systems enable lenders to digitize and centralize application data from credit checks and risk assessments, supporting informed decision-making for loan approvals.

What are the core features of loan origination software?

  • Loan processing: Automate and standardize loan processing tasks, from initial application to final approval. Loan processing includes capturing applicant data (personal, financial, and employment information), performing credit checks, assessing risk, and automating underwriting to determine an applicant's eligibility. 

  • Document management: Collect, store, and organize loan processing documents in a secure digital format. These documents include application forms, applicant verification forms, and final loan agreements. Most loan origination software tools include optical character recognition (OCR) to automatically extract data from physical documents and encryption and access controls to protect sensitive information.

What are the benefits of loan origination software?

  • Reduces loan processing time: Loan origination software automates various stages of the loan application process, eliminating manual tasks that traditionally slow down loan approval. For instance, it automates data entry, credit scoring, and background checks, ensuring these tasks are completed quickly and with minimal human intervention. This automation enables you to make faster decisions, resulting in a quicker turnaround time for loan applications and approvals.

  • Facilitates risk management: Loan origination systems use advanced analytics and machine learning algorithms to assess loan applicants' risk profiles. They predict the likelihood of default by analyzing extensive data points, including the applicant’s credit history, financial status, and market trends. This data-driven approach enables informed decision-making and mitigates the potential risks associated with lending. Furthermore, with continuous monitoring of loan portfolios, you can detect any changes in borrowers' financial conditions that might indicate increased risk.

  • Enhances regulatory compliance: The financial industry is heavily regulated, with stringent requirements for documentation, data security, and reporting. Loan origination software automates the collection and storage of required documents, ensuring they are complete, accurate, and accessible for audits. It also features security measures such as encryption and user access controls, which are essential for complying with data protection regulations. Moreover, these systems often automate compliance report generation, minimizing the risk of human error.

What are the potential issues with loan origination software?

  • Limited customization options: Many loan management software solutions cater to a broad range of financial institutions, which means they may come with standardized features and workflows that may not fully align with your specific needs. This lack of flexibility can be problematic for your unique processes or regulatory requirements.

  • Integration difficulties: A loan origination system needs to interact with various other platforms within a financial institution, such as customer relationship management (CRM) systems, core banking platforms, credit bureaus, and compliance tools. However, achieving smooth integration can be challenging due to differences in technology stacks, data formats, and communication protocols. These integration hurdles can result in data silos, where information is not shared effectively between systems, leading to inefficiencies and potential errors. 

  • Data security concerns: Given the sensitive nature of the data handled during the loan origination process, including personal, financial, and employment information, any vulnerabilities in the software can pose significant risks. Cybersecurity threats such as data breaches, hacking, and unauthorized access can have severe consequences, including financial losses, reputational damage, and regulatory penalties.

How much does loan origination software cost?

Most loan origination software solutions on the market are priced on a “per month” basis, and their entry-level pricing plans typically range from $6 to $149+.* An enterprise product that’s priced higher may include additional features such as borrower experience monitoring, document generation, and advanced reporting.

*The pricing included is for the entry-level/lowest-priced offerings found on vendor websites as of June 20, 2024.

What is loan origination software used for?

Loan origination software streamlines and automates loan application and approval processes for financial institutions. However, based on the data you feed into the system and the available software features, it can have multiple use cases. 

  • Credit and risk assessment: Loan origination software automates the assessment of an applicant's creditworthiness by integrating with credit bureaus and using algorithms to evaluate credit scores, income and debt levels, and other relevant financial data. This helps determine the risk associated with lending to a particular applicant.

  • Automated underwriting: The software uses predefined rules and criteria to automate the underwriting process. This involves verifying the applicant's information, checking for compliance with lending policies, and making preliminary decisions on loan approval or denial.

  • Data analysis and reporting: The software provides analytical tools to generate insights from the collected data. This helps your business monitor performance, identify trends, and make informed decisions to improve lending processes.

Which tools integrate with loan origination software?

Loan origination systems integrate with various tools to optimize lending operations. We looked at thousands of reviews from users of loan origination software to identify products that users frequently mention integrating with their loan origination tools:

  • Zapier is automation software that connects loan origination software with various other applications to automate repetitive tasks and streamline workflows. For example, Zapier can trigger automatic updates in the CRM system when a loan application reaches a particular stage, send notifications to relevant team members, and transfer data between the loan origination software and other financial tools.

  • Microsoft Excel is spreadsheet software that integrates with loan origination platforms to help with data analysis and reporting. It allows users to export and manipulate loan data within Excel.

  • DocMagic is document management software that integrates with loan origination tools to generate, manage, and store all loan documentation. DocMagic ensures documents comply with regulatory standards by continuously updating its database with the latest regulatory changes and automatically applying them to all documents.

  • Surefire CRM is customer relationship management software that integrates with loan origination software to help lenders track and nurture leads, automate follow-ups, and maintain a detailed history of customer communications.

  • Bonzo is communication and engagement software that integrates with loan origination software to help lenders send targeted emails, text messages, and other communications to keep borrowers informed and engaged throughout the loan process.

We identified these integrations mentioned most often in verified reviews of loan origination software published on Software Advice within the past two years (as of June 20, 2024).

Considerations when purchasing loan origination software

  • Identify nonnegotiable features. The software features you need will depend on your industry or scope of operations. For instance, if your financial institution deals with various types of loans, you’ll benefit from automated underwriting functionality to quickly assess and approve loan applications, reducing the time and effort required for manual underwriting. Similarly, the automated decisioning feature will let you automatically calculate credit scores to accelerate the loan approval process. Moreover, you may also want the software to integrate with credit reporting agencies to automatically pull and analyze credit reports. 

  • Evaluate integration with credit reporting agencies. This integration simplifies the exchange of credit information between your loan servicing system and major credit bureaus, such as Equifax, Experian, and TransUnion. It allows you to access and verify an applicant's credit history, scores, and other relevant financial data during underwriting. This integration also ensures compliance with regulatory requirements related to credit reporting, as the loan origination system can automatically pull and update credit reports as needed.

  • Assess customer support options. Effective customer support ensures issues or questions during software implementation, training, or daily operations are promptly addressed. Evaluate the responsiveness of the vendor's support team, including their availability via phone, email, or live chat and their expertise in troubleshooting technical issues specific to loan origination software.

Source

Products evaluated for the pricing calculation were taken from Software Advice’s loan origination software directory. The pricing ranges exclude freemium versions of the products. The features highlighted were identified based on their relevance and the percentage of products in Software Advice’s directory that offer them.

Disclaimer: This loan origination software buyers guide was authored by Software Advice’s content team. We develop our guides using the author’s expertise, insights from 2M+ unique user reviews, and our proprietary data science algorithms to identify trends in user sentiment, preferences, and priorities. Some text was generated with assistance from AI tools.