About 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, it aims to improve real-time collaboration on tasks reducing the total cost of operations.

Features of LendingPad include inbuilt customer relationship management (CRM) tool, compliance check, document archiving, real-time updates, custom workflows, loan tracking, lead and campaign management and service level agreements. It allows brokers to initiate loan processes from anywhere and add unlimited numbers of users and branches to facilitate the flow and management of leads. Additiona...


Read More

Supported Operating System(s):

Web browser (OS agnostic)

13 Reviews of LendingPad

Average User Ratings

Overall

4.54 / 5 stars

Ease-of-use

4.5

Value for money

5.0

Customer support

4.5

Functionality

4.5

Ratings Snapshot

5 stars

(8)

8

4 stars

(4)

4

3 stars

(1)

1

2 stars

(0)

0

1 stars

(0)

0

Likelihood to Recommend

Not likely

Very likely

Showing 1 - 5 of 13 results

July 2019

David from NorCapital Lending Corporation

Verified Reviewer

Company Size: 2-10 employees

Industry: Financial Services

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

July 2019

I did not think it was possible.

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!

Reasons for Choosing LendingPad

-Cloud-Based-Cloud-Based-Cloud-Based-Cost-Learning curve-And of course

July 2019

Africa from Financial Services

Verified Reviewer

Company Size: 2-10 employees

Industry: Financial Services

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

July 2019

Easy to Use for a Disperse Mortgage Company

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.

Reasons for Choosing LendingPad

The same reason we switched from Calyx Point - price, technology, and ease of use.

October 2019

Steven from Texas Lone Star Lending

Verified Reviewer

Company Size: 2-10 employees

Industry: Financial Services

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

2.0

Customer support

1.0

Functionality

4.0

October 2019

Somewhat confusing system, poor support

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

Replied November 2019

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.

July 2019

Jay from Jay Dacey Mortgage Team

Verified Reviewer

Company Size: 2-10 employees

Industry: Banking

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

July 2019

A turn key solution for a start up brokerage

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.

Reasons for Choosing LendingPad

The initial investment was marginal and the start up service/training was sufficient. The tech support on going has been very good.

July 2019

Brian from Stewardship Mortgage

Verified Reviewer

Company Size: 11-50 employees

Industry: Real Estate

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

July 2019

Easy to learn, easy to use.

Being able to connect LendingPad to our CRM has been invaluable to serving our customer base.

Pros

LendingPad has the user in mind, it is easy to use and learn. The customer service has been phenomenal. They are quick to help and have answers to all almost all our questions!

Cons

Would love a customer interface, where customers can submit information directly to LendingPad