All LendingWise Reviews
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Jonathan
Financial Services, 11-50 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
4
Reviewed October 2022
Easy to Navagate
Overall good and easy program.
PROSCustomizing loan programs and application is very user friendly. Customer service has been great. [SENSITIVE CONTENT] has always been to take our call or email.
CONSCalculation are a little off. Won't allow to calulate day 1 LTV of purchase price or LTV lessor of the 2.
Reason for choosing LendingWise
Price
Reasons for switching to LendingWise
Prodeal didn't have an application. Prodeal was only for gathering important documents. Nova had many problem where changes to an application was not saved.
Sheila
Financial Services, 2-10 employees
Used daily for less than 6 months
OVERALL RATING:
4
EASE OF USE
3
VALUE FOR MONEY
4
CUSTOMER SUPPORT
5
FUNCTIONALITY
2
Reviewed October 2022
Work in Progress
Extremely difficult beginning to the point I second guessed my purchase. The last 2 month are getting better although still some aggravation lingers. I gave myself 6 months to fully absorb and use every aspect of the software before making a change. I am hopeful that with [SENSITIVE CONTENT] help, LendingWise will evolve into what I was promised and turn out to be my long haul software. Fingers crossed.
PROSMy favorite part of the software is [SENSITIVE CONTENT], my developer! I love being able to load my own forms into the system and through "merge tags" auto populate for the paper file w/o me handwriting 5 forms for every borrower. I like the email wizard and auto populating the file/borrower specific information for standard emails like doc prep request or title search request and wires. I REALLY like the idea of the software automation sending a reminder text/email to myself and my borrower a few days prior to payment due date monthly, a reminder email about insurance expiration and loan maturity.
CONSOur sale rep was great but over promised and undelivered on the key features we were looking for because they are still in the development stage (giving the benefit of the doubt on team communication). My onboarding was difficult at best but [SENSITIVE CONTENT] has managed to salvage my thoughts on LW and is working to make it everything I need (and thought) it to be. Some of the features I mentioned in the Pros section are active but have several bugs or incomplete follow thru. At this time, payment reminders don't happen the way they are supposed to but [SENSITIVE CONTENT] has given me a "work around" for now but requires double entry. All of the automation I set up is mostly turned off at this time in an effort to let development catch up with the glitches. And I guess the last thing is probably the lack of real reports. You can search from the pipeline but it only exports to Excel.
Reason for choosing LendingWise
Cost was a big factor, but, my sales rep was very engaging. My recent background was in Real Estate...not mortgage, let alone Private Lending. He had a background in Real Estate, he said he did some self funded private lending as well as worked with a group of private investors and seemed to have a great deal of knowledge where I fell short. He was able to explain alot of the "gray" areas and I felt like he spoke my language. I was excited to get started and with it being the least expensive of all the products I felt like that was icing on the cake.
Joe
Law Practice, 11-50 employees
Used daily for more than 2 years
OVERALL RATING:
3
EASE OF USE
5
CUSTOMER SUPPORT
1
FUNCTIONALITY
3
Reviewed October 2022
Day to day use
I have used this product from 2 law firms.Daigle Law and Forghany Law.While the product itself works 90% of what is needed. The remaining 10% is very difficult to get customer service to implement. They are quick to take my concerns over the phone and by zoom. However almost never end up with any results. Not even as far as calling and even telling me it can't be done at this time; or here's a way around to resolve what you need. Customer service rarely calls me back. I have always needed to call customer service to follow up. Because the firm is a place of business, I don't have time to hound customer service and then having to reiterate the history of the call. Obviously if customer service calls me back, they know the concern. It is so frustrating that I continue to work with the limitations of loan post (mod post). While I normally would accept these limitations, LendingWise continues to tell me that changes can be done. In short, nothing gets done and I've grown tired of asking.
PROSEase of use and it is cloud based
CONSCustomer service vs implementation of changes.Sluggish.
Beth
Financial Services, 2-10 employees
Used daily for less than 6 months
OVERALL RATING:
4
EASE OF USE
4
VALUE FOR MONEY
5
CUSTOMER SUPPORT
4
FUNCTIONALITY
3
Reviewed June 2019
Great bang for your buck!
Very happy with LendingWise and still haven't tapped into a majority of the functionality like email drip campaigns, full auto-doc generation, loan servicing. But what we use so far is great minus a few hiccups here and there that the LW team helps us figure out.
PROSWe love the white label online application form that is easily customizable to our needs. We also use the loan origination/pipeline management every day as a team to help us track loans in their various stages of completion. I have done a ton of research on non-conventional lending software and this really checks most of the boxes we were looking for as a small company. There are some bugs that definitely need to be worked out but we are able to find workarounds and for a small company, you really can't beat the implementation and monthly costs. It's worth it to us to figure out how to make it work for us rather than paying 10x for other software applications that don't provide all the functionality we need.
CONSDifficulties in changing specific fields, especially in the loan terms, some tags just aren't available yet so we have to put values in other fields to make our auto docs work properly. Sometimes understanding how to configure the application and tap into it's many great features can be challenging. I come from a technical PM background so I get software and apps more than most - we are able to work around most challenges we come across but I don't think your average finance/lender would. I would say this would be a lot more difficult for the technically challenged individuals. But executive offers a great two-day implementation workshop that really helps. Definitely worth it to attend! Would love to see some custom reporting functionality in the near future so we can pull reports on our business.
Reason for choosing LendingWise
Full functionality for loan pipeline management and CRM was critical to replacing our increasing large and complicated excel spreadsheets. This software provided all the functionality we needed to manage the entire end-to-end loan lifecycle except for loan servicing which we chose to hand over to a 3rd party rather than try and do it in-house. Price was excellent compared to other alternatives. Many of the others had no way of managing the loan origination side of things either.
Kip
Real Estate, 2-10 employees
Used daily for less than 6 months
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
3
CUSTOMER SUPPORT
3
FUNCTIONALITY
3
Reviewed November 2022
Capable indeed!
Over all, It works and its capable of most of the things I use it for other than servicing.
PROSI like the ease of use and it can be customized. I'm not a programmer, don't want to be a programmer... but the software can be customized to my needs by loan program. Its rather easy!
CONSThere are some things that it doesn't do and we have to work around them. There are critical fields that should be required to advance a loan forward and maybe there is capability to add the rules but I have not found them. Support is intermittent on getting back to me when I have issues, there is a bit of a problem with some vernacular between operators (lenders) and programmers. If there was a check in occasionally or educational seminars it would help. The youtube videos need to be updated.
Reasons for switching to LendingWise
Ease of use for programing loan programs, all web based and the borrower portal.
Edwin
Real Estate, 2-10 employees
Used daily for less than 12 months
OVERALL RATING:
4
EASE OF USE
4
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed August 2018
Lending Wise is building the perfect platform for Lenders
Having a "written" down process and being able to automate that process through multiple users and functions built within the system.
PROSI have to say the responsiveness of the support staff and development team is top of the line. They take time to listen and understand your needs/ concerns and they work tirelessly towards a solution. Lending Wise knows the difference between customer service and customer experience. Very few companies offer a customer experience and that's what lending Wise does. The dev team have created a robust and flexible platform where no matter where you are at in the hierarchy of lending you can utilize their platform. It is easy to include other people, who need to be kept in the loop concerning a loan file, but may not have access to the platform. It's flexibility to be used on a mobile device or a desktop is extremely useful as well as the simplicity of which a client or vendor can be as involved or minimally involved, as they chose with the platform makes a case for utilizing this LOS as your companies go to source for originating, processing, underwriting, closing and tracking your loans that you and your team are continually moving.
CONSThe design element has a somewhat 90'ish aesthetic feel. The dev team has focused on functionality and flexibility though and those make up for the lack of aesthetic design.
Sukumar
Real Estate, 51-200 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
4
CUSTOMER SUPPORT
4
FUNCTIONALITY
5
Reviewed November 2022
Tab reviw
Most of the calculation part are solved, UI is good and user friendly to work
PROSWell organized with different required tabs, for each tab the required fields are not redundant and user friendly to enter the data and view, and correct.
CONSScreen refresh has latency and need to scroll down to edit the data for few dialogue boxes, to edit the uploaded document need to again scroll down to each not able to update multiple at a time, notification need to specific process or specific doc, example if expire date filed is cross the date only should be notify to specific processor
Gracee
Financial Services, 2-10 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed November 2022
Gracee's review
Our company loves it and we have no urge to try another CRM.
PROSThe product is super easy to use. If there's any assistance we need, the LW team is always there to hop on a video chat to help out. They're very attenuative to their customers. I love how you can customize everything to your company's liking.
CONSSometimes it can be a little slow as far as loading each tab on a loan.
Reason for choosing LendingWise
It was new whenever our Fund Manager was creating our company so we went with you all due to pricing & functionality compared to others.
Gena
Financial Services, 2-10 employees
Used daily for less than 12 months
OVERALL RATING:
5
EASE OF USE
5
FUNCTIONALITY
5
Reviewed June 2019
Taking Our Business to a New Level
We researched all CRM-LOS systems based around the financial industry and none come close to LendingWise. They have been very helpful and the training was amazing for team. The system covers the entire Deal from Lead to Funding, it has streamlined our process and has helped us in taking our business to the next level. As we grow so does the LendingWise system for our needs. We made the right decision with LendingWise and we couldn't be happier.
CONSNo so much a con, but the initial setup in customizing the system for our company was quite a task and we had some growing pains in the process; however, it was worth it and was no different then it would have been with any other system ... Rep and his team were very helpful.
Ed
Commercial Real Estate, 2-10 employees
Used daily for less than 2 years
OVERALL RATING:
5
EASE OF USE
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed September 2023
Customer support
Onboarding and continued support are top notch.
CONSNo real complaints to speak of. The software functions as it should and has helped us to streamline our process.
Sukumar
Financial Services, 51-200 employees
Used daily for more than 2 years
OVERALL RATING:
4
EASE OF USE
4
VALUE FOR MONEY
4
CUSTOMER SUPPORT
4
FUNCTIONALITY
4
Reviewed December 2022
Make more user friendly
It is a good user friendly application, document store is very good.
PROSMaintaining different tabs to store customer information for respective necessary task, easy to use the UI, easy to understand the labels for each task and capture and fill the data required field and save.
CONSRefresh rate should be more fast, float save button to avoid scroll to down of form, edit and rename the uploaded document, expiry date field is not disabled, make to it enable to save time to scroll down, multiple editable options for expiry date, implement auto calculation for first payment date and maturity date based on closing date and loan term. Implement keyboard shortcut methods to navigate the loan tabs
Guilherme
Financial Services, 51-200 employees
Used daily for more than 2 years
OVERALL RATING:
3
EASE OF USE
3
VALUE FOR MONEY
3
CUSTOMER SUPPORT
4
FUNCTIONALITY
3
Reviewed October 2022
Good for small companies
The software loads faster most of the time.
CONSVery weak with reports, and integrations.
Todd
Banking, 51-200 employees
Used daily for less than 12 months
OVERALL RATING:
1
EASE OF USE
1
VALUE FOR MONEY
1
CUSTOMER SUPPORT
1
FUNCTIONALITY
1
Reviewed May 2023
Lending wise software disaster
F. Not only does it not work the company principles are completely careless with Support glitch fixing, and a variety of other support measures.
PROSThis software is a start up by a very young group. They are inexperienced, have no concept of software development and their team is located remote and over sea’s. In 22 years of lending this softwas is singlehandedly the worse we have ever experienced it just does not work at all. .
CONSTheir repsonse is none existence, their [sensitive content hidden] is always out on vacation, and support is none existant If your business relies on the software for business development, do not use it
Lindsey
Real Estate, 2-10 employees
Used daily for more than 2 years
OVERALL RATING:
4
EASE OF USE
4
CUSTOMER SUPPORT
5
FUNCTIONALITY
4
Reviewed October 2022
Review from a Loan Processor/User
Customer service has always been top notch. Almost instant replies to support tickets anytime I've had an issue.
PROSThe platform continues to improve, adding additional user friendly tools, such as being able to download all client files at once via zip file instead of one at a time. Being able to add notes that anyone in my organization can scroll through in real-time is also a nice feature.
CONSI don't think we use the platform to it's full capacity so hard to say.
Abhishek
Banking, 11-50 employees
Used daily for more than 2 years
OVERALL RATING:
4
EASE OF USE
5
VALUE FOR MONEY
4
CUSTOMER SUPPORT
4
FUNCTIONALITY
4
Reviewed November 2022
Lending Wise Portal, Eco-Friendly.
This is one the good portal or application that I ever used. The sections/tabs that has been made are really useful for the team members, management and across.
PROSThe portal is very much Eco-Friendly and I like the navigation part and sections where we can save our comments / data.
CONSBuffering. I think it can be little more faster.
Alexander
Real Estate, 2-10 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed November 2022
Lending Wise A+++++++
It has been great and we are just starting to expand our business due to the automation of the system.
PROSThe product is super easy to use and can be tailored to what you want it to do.
CONSCosmetically does not look very sleek when you present to a broker or an affiliate.
Ray
Financial Services, 11-50 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
4
VALUE FOR MONEY
4
CUSTOMER SUPPORT
4
FUNCTIONALITY
4
Reviewed May 2019
Great Software, Great Service, Quick Help Desk!
Now we can keep better track of all our commercial and business funding deals, and have a better deal flow with the system.
PROSEase of use,deal flow plus the support team is on point..
CONSThe software is great, everything flows with every input.
Kelly
Real Estate, 2-10 employees
Used daily for less than 2 years
OVERALL RATING:
5
EASE OF USE
5
FUNCTIONALITY
5
Reviewed October 2022
Great platform for all mortgage types
We are able to keep all our files in 1 place, separated by borrower & all in order.
PROSI was able to learn the Lending Wise platform very easy & still continue to use it on a daily basis. We are able to tweek the platform for our needs.
CONSThere is really nothing I don't like. The whole platform performs great!
Doug
Real Estate, 51-200 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed October 2022
Great LOS
I enjoy the layout and the frequent updates
CONSLoading time page per page takes longer that I would like
Vendor Response
Excellent feedback. Thanks for the review!
Replied October 2022
Leah
Financial Services, 11-50 employees
Used daily for less than 2 years
OVERALL RATING:
5
EASE OF USE
5
FUNCTIONALITY
5
Reviewed October 2022
Reliable and very functional product
I enjoy the ease of locating a potential or current Borrowers information with ease.
PROSThe product is extremely easy to use. LendingWise has made the process of storing and accessing necessary information a seamless process.
CONSI don't have any cons. Everything is spelled out and user friendly
Vendor Response
Thank you for the great review!
Replied October 2022
Sean
Real Estate, 2-10 employees
Used daily for less than 12 months
OVERALL RATING:
2
EASE OF USE
2
VALUE FOR MONEY
2
CUSTOMER SUPPORT
4
FUNCTIONALITY
3
Reviewed May 2019
LendingWise
Overall experience is positive, but there are a host of negatives, which should have been discovered prior to live release.
PROSGreat idea for pipeline management and the support team is responsive with bugs/requests
CONSThe software has many bugs and features that should be "standard" are not incorporated. Thus, the QA falls on the paying clients.
Vendor Response
In 2019, we were still growing and adding new features. As of 2020 & beyond we have become an industry leader with a very stable platform used by 300+ lenders. Many are doing $50 million in monthly volume.
Replied October 2022
Tracy
Financial Services, 2-10 employees
Used daily for less than 12 months
OVERALL RATING:
5
EASE OF USE
4
VALUE FOR MONEY
4
CUSTOMER SUPPORT
4
FUNCTIONALITY
4
Reviewed October 2022
I love Lendingwise - they are very responsive and have great support
Reporting is very difficult - reviewing the pipeline for loans about to Mature, loans about to close, showing OUR company profits for each loan ---- AND there is no servicing module
PROSThat the borrower has online applications, we send out applications out for electronic signature, we communicate with our borrowers through the system - we love it
CONSWe cannot access every field to export and as a WebHook - this is very distressing
Hans
Financial Services, 2-10 employees
Used daily for less than 2 years
OVERALL RATING:
5
EASE OF USE
4
VALUE FOR MONEY
4
CUSTOMER SUPPORT
5
FUNCTIONALITY
4
Reviewed November 2022
Hans
Once you learn the system it is simple to navigate
PROSHaving all information in one place relating to what we do
CONSHard to figure out by yourself, with the training it became easier
Reason for choosing LendingWise
Needed to have something to lead is in the right direction
Toby
Banking, 11-50 employees
Used daily for more than 2 years
OVERALL RATING:
5
EASE OF USE
5
VALUE FOR MONEY
5
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed December 2020
Lendingwise review
Very user friendly great reporting options
CONSThings are working really good and the new updates are awesome
Gale
Commercial Real Estate, 2-10 employees
Used daily for less than 12 months
OVERALL RATING:
5
EASE OF USE
4
CUSTOMER SUPPORT
5
FUNCTIONALITY
5
Reviewed February 2021
[SENSITIVE CONTENT HIDDEN] is the Man!
[SENSITIVE CONTENT HIDDEN] is incredibly helpful with any question I have. His response time is so minimal and he is so patient with all my requests for information. I could not be where I am with the software without his technical support. He is one of the main reasons I would recommend Lending Wise to another user.
PROSThere are so many features of this software - once I learn all of them it should practically do my job for me.
CONSThe many features can be overwhelming to a new user.