LOANLEDGER is a cloud-based loan servicing solution for enterprises of all sizes. It’s suitable for mortgage firms, financial firms, automobile lending banks, private lenders, governmental agencies, municipalities, venture capitalists, construction agencies and credit unions. Primary features include debt collection, accounting management, construction loan servicing, automatic fund distribution and reporting.
LOANLEDGER allows organizations to manage the loan servicing process from application to payoff. It also manages mortgages and rates, simple interest, commercial and construction loans and credit cards. Other features include audit trails, logs, detailed life-of-loan histories, multiple interest-calculation options, payoff scheduling and automatic tax return submission.
It offers integration with Calyx Software, eDominate, ScanOnce and more. Subscription pricing and perpetual licenses are available. Support is offered via phone, email, live chat and dedicated customer-support advisors.
Jeff from City of Aurora
The program is not difficult to learn how to use. sssssssssssssssssssssssssssssssssssssssssssssssssss
Payoff statements cannot be customized (to my knowledge). Program sometimes freezes after 1-2 hours of inactivity - have to shut down and log back in. Have never been able to get loans to automatically apply principal and interest payments correctly.
sandra from City of San Mateo
Employees number: 201-500 employees
ease of use on a daily basis
simplicity, easy-on-the-eye graphics
help is just an email away,,,,,
loan accounting features are intuitive
reports can be a bit clumsy
error messages are hard to decipher
no warnings when you get an error, you are just booted off
Kristi from Furniture Mart USA
It is easy to use and somewhat user friendly. The software is easy to follow and has just the right features I need.
I wish I was able to print more than report at a time to my screen. If I forget to close out of one report and try to print another report I get an error message and get kicked out of the software.
Chuck from Berins Mortgage Company
Employees number: 11-50 employees
Low cost with big results. This program does everything we need to service multiple loan portfolios including a wide range of reports. This keeps our investors up to date each day. There are several "modules" available that can be integrated into the base program that would give even more flexibility however they are functions we don't need. It's great to know however, that if we need them in an expanded capacity we have access to them.
This is the second company I have run and purchased this program for. My reasoning is simple, it is designed for the small to mid size servicer and not a tremendous amount of training required. If you can read you can use this system. Also, it has given us the opportunity to handle several companies at once without a huge cash outlay. My staff have been very successful using virtually all of the functions enveloped within this program!
The system is virtually identical to what I purchased 25 years ago and could use some updating in its' appearance. That said, it functions just fine!