LOAN SERVICING SOFT is a loan servicing solution that offers loan origination, loan servicing, investor management, trust accounting, collections and reporting functionalities within a suite. Both cloud-based and on-premise deployment options are available.
LOAN SERVICING SOFT allows users to accept online loan applications using customizable web forms. When a loan request is received, the solution creates automated workflows for decision-making and evaluation procedures. It also enables users to create a customized decision matrix based on credit pulls and information in the web form.
LOAN SERVICING SOFT also features automated billing, which allows users to send bills for cash collections and ACH/EFT electronic payments. Users can also track “promise to pay” collections. The solution also offers trust accounting, which allows users to manage settlements, closings and escrow administrations. Users can also create action and result screens and tasks for managing the collection workflow.
Seth from Silver Heights Development
Employees number: 2-10 employees
Produces professional looking statements
Cumbersome initially but with solid support
LSS has been a great partner for our organization. They have been very willing to work with us the few issues we've had to the software where we needed it to be to service our clients.
The software is flexible and allows the user add data that is necessary to make decisions.
Updating the software has to be done on an individual basis and can slow the day down.
Matthew from Housing & Development
Great user interface. Enterprise functionality. Customizable. Great user interface. Enterprise functionality. Customizable. Great user interface. Enterprise functionality. Customizable.
It was hell getting it migrated from NoteSmith. I think we were given the wrong engineer to start. LSS made it right in the end.
Robert from Good Steward Account Servicing, Inc.
LSS is a great piece of software. The type of servicing we do can be very complicated but LSS is very intuitive and easy to use. The technical support people very responsive and helpful. Some of the other popular loan servicing software companies, especially for the private lending market, have a reputation for being less than ethical but the people at LSS are great.
Cat from MFS Holdings
I spent weeks having conference calls with vendors offering loan servicing & loan decisioning software. LSS was the only company that I found that offers both of these platforms in one system. I believe in simplicity. Using 1 system is much better than 2 for originating & servicing your loans. I have done extensive testing on the software & it seems to function very well. It's rare that you find a software company that offers this level of customization. I can't begin to say enough good things about John, he is AMAZING. I have not asked him to do a single task that he was not able to perform. He is a pleasure to work with & takes time answering my questions. He doesn't give up until you're satisfied. I had LSS do things that they have never done with other companies, including writing scripts to increase productivity & parsing data. I really can't wait to see where the development of this software leaves us at the end of the year. They offer import services, which made transferring our old data into the new software a breeze. The process went very smoothly & all the balances/payments were correct. They did offer to show me how to perform the import to save me money, but I preferred peace of mind by ensuring accuracy rather than saving the money for the import. I was very satisfied with the import; the work was flawless. The team really stuck their neck out to meet our launch date & put in the extra hours to meet our investor's deadline, which I really appreciated. I believe there is great value in this software. The price is very fair, because the finished product is built specifically for your business. This is the last software we will ever have to purchase to service & underwrite loans for our company. This software will develop with our business. Proprietary software has cost other companies that I have managed a fortune; you can't imagine how thrilled I am to have such a customized program for a fraction of the cost. Our money was well spent & I highly recommend this software.
Sonia from JSL Funding Group
We switched our servicing software about 9 months ago to Loan Servicing Soft and it has been a very good transition. We are extremely happy with the service and extremely happy with the product. We required certain changes and they were done quickly and without a hitch. We are impressed with the reports that are generated from the system, and when we asked for reports that we needed customized to our particular needs, they were done quickly and correctly. We are very happy with this program and recommend it highly.
Ira from The Funding Group
We have 12 employees, we have been using the product for aprox 6 months and we love it. It is user friendly, the service has been great and most of all they respond to our needs immediately. Transitioning from one software program to another in our business is a major feat, but Jeff Tremaine and his techs are absolutely super and have been a great asset to the transition. The best part of the software is the customization. They have accomplished every thing we have asked them to customize without a hitch. If your looking for a mortgage servicing or origination program this is your baby.
Natalie from Magical Credit INC.
We initially started our business off with another software program Nortridge. We did not find them accommodating to our needs. We researched other options and came across Loan Servicing Soft. Since day one they have helped us build the software to exactly what we needed to run a successful Short Term Loan business. The staff is friendly and prompt in response to our needs. We would highly recommend them.
Dorothy from Ven-Ken, Inc
I enjoy working with the LSS program, it is easy to use and the reporting functions allow me to generate my mortgage docs right from the program. Serious time saver on my part.
The only con that I can see is that I wish there was a way to have a check from the servicing company for the escrow accounts to be entered automatically into the individual escrow accounts.
Cecilia from ReProp Financial
Very easy to navigate loan servicing software with robust reporting capabilities. The software's architecture allows for substantial customization.
The support staff is responsive and knowledgeable, great customer service and support.
Julie from First Health Funding
This product is user-friendly and I haven't found anything it can't do to support our business. I love the product and I love working with all areas of Loan Servicing Soft. Great company and Great product!
Sam from Brilliance Credit
We are new to the lending space. LSS has helped us get up and running fast while guiding us through some of the tough choices in starting up.
They have helped us create our own underwriting system that has put into work what was only in our heads.
The best way to describe the overall system is "Slick"!
The LSS team has really covered all of our needs from Application through beginning collections.