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. Additionally, it le...


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Supported Operating System(s):

Web browser (OS agnostic)

35 Reviews of LendingPad

Average User Ratings

Overall

4.36 / 5 stars

Ease-of-use

4.5

Value for money

4.5

Customer support

4.5

Functionality

4.5

Ratings Snapshot

5 stars

(22)

22

4 stars

(9)

9

3 stars

(3)

3

2 stars

(0)

0

1 stars

(2)

2

Likelihood to Recommend

Not likely

Very likely

Showing 1 - 5 of 35 results

April 2021

Chris from Suarez Home & Finance Corp.

Company Size: 2-10 employees

Industry: Financial Services

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

April 2021

Loving so far and still in Trial period!

Overall has been very good and anticipating a great working system for all aspects of the loan process. So far, love it and just anxious to finish learning and setting all up.

Pros

Easy to read and change themes for visual, integrates with different programs currently and adding more for ease. Love that Contacts are able to imported, DU/LP a since now, MCR reporting to be such a easy process now instead of creating spreadsheets, etc.. The list goes on...

Cons

1. Subject line when sending from system but, know it is being worked on. 2. Loan/File numbers automatically created but, cannot change format at the moment to my system (YY,MM,DD,...). This would allow a more streamed process of importing files, etc. Just trying to adjust to a new system and set up templates, etc. Once all is set up and also integrates w/ Jungo and Optimal Blue .. it will be awesome and save so much time!

Reasons for Choosing LendingPad

Appearance of flow, processes, cost, integrations, others using system love it.

Reasons for Switching to LendingPad

System was out dated and the final straw was the new URLA and issues along with things being deleted in the system completely. Very troubling for compliance issues.

June 2021

John from Park Place Mortgage

Company Size: 2-10 employees

Industry: Financial Services

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

June 2021

My experience with Lending Pad

I am very pleased I made the move a couple years ago!

Pros

Lending Pad is very easy to use and manage compared to my prior LOS by Ellie Mae used for too many years. Integration to Lending Pad was not a difficult process. I create custom forms to be efficient and was able to also do this when I transferred to Lending Pad. Also. being able for more than one person to work on a loan file in the office or remotely was a big plus for me!

Cons

An LOS is an evolving program. I do not have complaints and make suggestions as needed.

Reasons for Choosing LendingPad

I started with The Loan Handler in 1997 that became Elie Mae. After many years, I was more than ready to make a change to my LOS. I considered the Byte product introduced to me at NAMB Vegas, and by "chance" met Wes from Lending Pad at the NAMB booth. Wes gave me a brief demonstration on the spot and was impressed by the easy of use, simplicity, and lower cost. It's been two years and I never looked back!

Reasons for Switching to LendingPad

I did not trust my prior LOS, especially in regards to determining cash needed to close. Ellie Mae was too big for a small company like mine. Customer service was difficult and the software was expensive for what I received.

April 2021

Stuart from C2 Financial Corp

Company Size: 2-10 employees

Industry: Financial Services

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

3.0

Value for money

3.0

Customer support

1.0

Functionality

3.0

April 2021

Good if and when they step up their support game

Needs to be more user-friendly, not very intuitive and you will need a good bit of training/setup to get going to full functionality. Simple things like bulk uploads of files need to be implemented because uploading your old files one at a time then the need to go into each file and set the LO as the correct person in charge of each loan is very time consuming then the lack of support when I needed them caused me to switch to one of their competitors (Arive). Zero response from billing department so be cautious of paying this for the full year because they will ghost you and do not offer any money back guarantee or even partial refund.

Pros

Some good features overall if you can get the support in a timely fashion to utilize them. Their ideas are good in general and tools can be helpful if you can either figure it out yourself or have the patience to wait for days for answers to simple requests.

Cons

I wanted to love LendingPad because it has some good functionality and the ideas they have implemented seem good on the surface, then there is the issue of submitting support tickets and them being prematurely closed when the solution to your problem is not provided. They took my money and ran and when it came down to having a simple conversation about my issues nobody was there to pick up the phone when you call, ever. Why have a phone number when you are not willing to speak to your customers. Multiple support tickets were closed without us having a resolution so it appears they really need to hire a lot more employees to manage their support tickets in a timely fashion

Reasons for Choosing LendingPad

I didn't stick with LendingPad, ultimately switched to Arive.

Reasons for Switching to LendingPad

Calyx was too old and didn't have good tech built in.

Response from LendingPad Corp

Replied April 2021

Mr. Carson, Our "phone" support is performed via pre-scheduled screen share in order for us to service all clients efficiently. You had also shared your credentials with a non-paying user which is not permitted according to our licensing terms. We are sorry that you did not have a good experience with support and will use this feedback to continue to improve our service.

July 2019

David from NorCapital Lending Corporation

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

Reasons for Switching to LendingPad

New brokerage and cost, at first. Now I wouldn't use anything else

April 2021

Zaheer from Complete Mortgage LLC

Company Size: 51-200 employees

Industry: Financial Services

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

4.0

Customer support

4.0

Functionality

4.0

April 2021

My overall

The overall experience has been great. I love the software it is easy to use once you get used to finding what you are looking for. There is room for improvements as with any other software.

Pros

I like that the software is web-based, this has our company security a little easier to handle.

Cons

There is no way to fully customize or add any features to the system. Adding in contacts for lenders has to be done by the software company versus doing it yourself. The customer chat box is great BUT it should be moveable to where you can access it as you try to follow the tech support instructions. There are add-ons with outside software vs LendingPad upgrades (CRM, Pricing, etc) It is sometimes a little longer to get support when you need a quick answer and there is no support phone number. Printing forms should be easier and accessible to all users. The customer link needs improvement and allows them to upload documents.

Reasons for Choosing LendingPad

Friendly view

Reasons for Switching to LendingPad

Calyx is still in the Stone Age. The software had a lot of issues and was a support nightmare. Security is a major issue and concern. The support staff is not friendly and responsive. Getting support took very long.