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Loan Origination reviews by real, verified users. Find unbiased ratings on user satisfaction, features, and price based on the most reviews available anywhere.

Best Loan Origination Software

Loan origination software automates the end-to-end loan portfolio cycle, simplifying and improving both the application and approval of loans. Loan origination solutions offer a holistic view of borrower transactions across all channels and products within a single platform.

By centrally managing loan products, loan origination software reduces regulatory compliance risk. In addition, loan origination tools offer insight into each transaction through real-time business activity monitoring, as well as content and resource optimization through audit trails. Some loan origination tools include underwriting and rating software functionality and credit analysis. Loan origination software is often implemented through the cloud, and these solutions typically contain loan servicing software functionality or integrate with those solutions to provide a comprehensive loan management solution.

To qualify for inclusion in the Loan Origination category, a product must:

Adapt to changing industry policies, scoring, and regulatory requirements
Capture and monitor customer documents and data in one platform
Work across multiple digital channels
Integrate with loan servicing software or include comparable functionality
Adapt to changing industry policies, scoring, and regulatory requirements
Capture and monitor documents and data in one platform
Work electronically and across multiple channels
Integrate with BPM frameworks to create efficiencies across business channels

Top 10 Loan Origination Software

  • Floify
  • TurnKey Lender
  • LendingPad
  • Encompass Digital Mortgage Solution
  • Encompass360
  • Student Loan Servicing System
  • Finflux
  • Calyx Point
  • TValue
  • LendingQB

Compare Loan Origination Software

G2 takes pride in showing unbiased reviews on user satisfaction in our ratings and reports. We do not allow paid placements in any of our ratings, rankings, or reports. Learn about our scoring methodologies.
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(25)4.8 out of 5
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Floify is an automation solution for the mortgage industry that streamlines the loan origination process by providing a secure communications and document management portal that is shared between lenders, borrowers, real estate agents, referral partners, and other loan stakeholders. Mortgage brokers and loan officers use Floify to digitally collect and verify borrower documents, track loan progress, communicate with borrowers and real estate agents, and close loans faster and easier than ever.

(18)4.7 out of 5
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TurnKey Lender is a global ULM (Unified Lending Management) leader. The company designs and develops intelligent award-winning software products that automate the entire lending process. The solution's capabilities cover traditional and alternative lending, SME financing, grant management, money lending, leasing, trade finance, in-house financing, and more. TurnKey Lender serves customers in 50+ countries, and the list keeps growing. As a pioneer in the development of AI software for lenders, T

(20)5.0 out of 5
Optimized for quick response
Entry Level Price:$40/user/month

LendingPad Corp provides a complete suite of loan origination solutions for mortgage brokers, lenders, banks, and institutions. LendingPad is designed to streamline lending operations, strengthen communication, and reduce costs in mortgage lending. The cloud-based solutions include end-to-end features such as the borrower portals, MLO app, document management, origination, processing, and fulfillment functionalities. LendingPad is a winner of the 2019 HousingWire's Tech100 award and one of the

Encompass is Ellie Mae's all-in-one integrated solution that covers the loan lifecycle and provides one system of record so you can close compliant loans.

(18)3.9 out of 5

Encompass360 is a way of managing loan origination process that dramatically improves the way your business functions.

Student Loan Servicing System provides customer service on your federal student loans, so this tool answers your questions, offers solutions if you're having trouble paying, and processes your payments.

(13)4.6 out of 5

Finflux is SaaS based lending platform that offers all-in-one solutions for needs of loan origination, loan management, financial accounting, marketplace integration, app based lending, alternative data based credit scoring, dashboards & reporting and analytics. At present we are serving about 4+ million borrowers with active loan portfolio of $3.2 billion. FinFlux is a fast-growing lending platform which offers classic and bespoke solutions. We can serve myriad institutions ranging from wh

(23)3.8 out of 5

Calyx® is an established provider of compliant mortgage software solutions used by banks, credit unions, mortgage lenders, and brokerages nationwide. The company’s easy-to-use technology, including its online borrower interview, loan origination systems, and secure electronic signature software, is designed to streamline, integrate and optimize all phases of the loan process for customers of various sizes, workflows, channels, and complexities. Combined with its extensive network of integrated p

(15)4.8 out of 5

Use TValue amortization software to structure loans, loan modifications, leases,troubled debt restructurings (TDRs), and to solve any time value of money calculations in seconds.

(13)3.6 out of 5

LendingQB is a mortgage loan origination system that provides tools to develope workflow with configuration settings that provide you compliance, pricing and investor overlay, electronic documents, integration, and more.

(9)4.7 out of 5

Snapdocs is a digital closing platform that connects lenders and settlement so each can efficiently manage their closings and offer a referral-worthy experience for their shared customer, the borrower. Powering over 2,000,000 closings a year, Snapdocs is the only solution with a proven track record of creating a single, scalable process for every closing--whether wet, hybrid, or fully eClose.

(7)3.8 out of 5

LoansPQ is a flexible and scalable consumer loan management solution that satisfies your customers’ loan requests right away while simplifying and streamlining back-end loan processing for your staff.

(5)3.7 out of 5

LendingSpace is a loan origination solution that helps you manage your correspondent lending channel and move loans to the secondary market.

(4)3.1 out of 5

LaserPro is a consumer lending solution that allows you to process consumer applicaitons from cross-selling to closing, while maintaining loan documentation compliance.

(4)4.8 out of 5

LoanSifter by Optimal Blue operates the mortgage industry's digital marketplace which connects lenders, investors and providers with comprehensive secondary marketing solutions, market leading capabilities and value-added services that deliver results.

(4)2.9 out of 5

Mortgage Builder is an end-to-end residential lending software and interface integration that helps manage profitability and risk of invester buy backs.

(4)4.8 out of 5

We are a B2B Saas that allows companies to rapidly take on clients where a mortgage application can be done in 7 minutes with documentation taking a further 20. We have integrated AML/KYC and PSD2 which all goes into our proprietary DAVV-ops (Detection, Authorization, Validation and Verification) engine so that lenders can do an end to end mortgage faster than ever before. Our software can be used by brokers or direct via lenders.

(4)3.7 out of 5

CADENCE enables lenders to manage factoring, invoice discounting, asset based lending, and more on a single platform.

(3)4.3 out of 5

For over 50 years, CoreLogic has been offering credit reporting solutions to the mortgage industry.

(3)4.7 out of 5

Decision Lender is an internet based SaaS system that automates origination of consumer loans for cars and other purchases like boats and RVs.

(3)4.7 out of 5

LoanSphere Empower is a state-of-the-art, enterprise loan origination system (LOS) that provides the functionality for every facet of the origination process from point-of-sale to post-closing. Offered as both an ASP and self-hosted solution, Empower supports consumer, retail and wholesale point-of sale channels; loan fulfillment and closing; pre- and post-closing audit and compliance functions; product and pricing; electronic document management; and industry-standard interfaces.

(3)3.2 out of 5

PCLender delivers the only “Total Mortgage Solution” designed specifically to simplify today’s lending complexities for small and mid-sized lenders. PCLender provides simple, elegant web-based mortgage solutions for community banks, credit unions and mortgage bankers. With a proven record of providing immediate return on your investment, PCLender is the most cost effective lending solution available. Owned and operated by Mortgage Bankers since 1997, we engage with lenders in a collaborative

(4)3.3 out of 5

RiskOrigins software is a next-generation, credit decisioning and monitoring platform that delivers improved risk management over the credit life cycle. The software offers a robust framework for regulatory compliance while helping banks retain their competitive edge through improved efficiencies and time-to-cash for customers.

(2)3.0 out of 5

absVision is an advanced loan origination and management software which supports many types of loans and interest calculations, including simple interest, fixed, blended and step rates, Rule of 78s, and average daily balance.

(2)3.3 out of 5

Auxmoney is an online peer-to-peer loan marketplace.

(2)4.8 out of 5

BytePro is a mortgage loan origination software.

(2)5.0 out of 5
Entry Level Price:$149/mo 1

LendingWise is a web based, all-in-one CRM, LOS, Servicing & Marketplace platform used by lenders and originators of all sizes. At the core of our system is a point-of-sale system that is turnkey & configurable to almost any loan product. We make it easy to intake a custom loan application, automate the collection of required docs & work flow steps.

(2)3.0 out of 5

Loan Producer is a residentail loan origination software that includes tools to help you automate the loan origination process that provides an internet martgage loan application or borrowers to complete.

(2)3.5 out of 5

Loan Soft Pro is a mortgage loan solution that is designed to help you organize, keep track of, and process mortgage loans.

(3)4.3 out of 5

Vaultedge AI is an artificial intelligence & machine learning software that helps you extract relevant information from unstructured documents. Vaultedge software is being used by top BPO and Banking/Lending companies to automate the sorting/splitting, indexing, data extraction and validation of complex documents like Legal agreements, Mortgage application packages, Credit reports, Financial statements, Invoices etc. Compared to traditional OCR software that works only for structured documen

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Check out the G2 Grid® for the top Loan Origination Software products. G2 scores products and sellers based on reviews gathered from our user community, as well as data aggregated from online sources and social networks. Together, these scores are mapped on our proprietary G2 Grid®, which you can use to compare products, streamline the buying process, and quickly identify the best products based on the experiences of your peers.
Leaders
High Performers
Contenders
Niche
Calyx Point
Encompass Digital Mortgage Solution
LendingQB
TurnKey Lender
TValue
Student Loan Servicing System
Floify
Encompass360
LendingPad
Finflux
Market Presence
Satisfaction

Learn More About Loan Origination Software

What is Loan Origination Software?

Loan origination software manages the application, decisioning, and issuing process for lenders of various types of loans. These solutions automate large portions of the loan process for lenders and often streamline the application process for borrowers. Loan origination solutions are typically bundled with loan servicing functionality to provide users with full-service loan management tools. These solutions are designed to automate credit scoring and decisioning while reducing risk, give customers more agency by providing a self-service portal, manage loan related documents, and allow lenders full insight into what loans are being extended to who.

Key Benefits of Loan Origination Software

  • Automate the rating and underwriting process
  • Provide insight into and control over the loan origination process/li>
  • Give customers self-service options via a client portal
  • Improve the loan management process

Why Use Loan Origination Software?

Loan origination software is beneficial for a few reasons. These solutions facilitate the essential digitization of the loan industry, giving lenders the tools to improve back end processes and front end user experience.

Cost reduction — Loan origination solutions reduce the number of tasks that need to be taken care of by human agents, reducing unnecessary overhead. By automating decisioning at the credit approval stage and allowing customers to self-service accounts via client portals, loan origination software gives lenders valuable time to focus on more value adding tasks. These tasks can be centered around strategy or prospective client outreach. Clients can upload documents, update information on file, check up on the status of their requests, and more without needing to get in touch with a human agent. As long as the routing is well crafted and the back end set up handled properly, loan origination tools should make significant progress in reducing the amount of work lending agents need to sink into servicing their accounts. Financial institutions are always looking to reduce fixed costs, and the potential for a reduction in the number of agent hours spent on servicing accounts doing tasks that could be automated means that they can focus on growing the business.

Increased control — Lenders can set the rules in their automatic decisioning engines, and have more insight into their business with the analytics tools that loan origination solutions provide. Financial institutions that use loan origination solutions have a consolidated data set, with all origination activities in a single place. Lenders can drive increased efficiency and improved processes by using loan origination software. Loan origination solutions provide a single dashboard from which to manage an entire loan portfolio.

Automation — Loan origination solutions automate large swaths of the back end processes that lenders conduct. The automation accelerates the loan process, driving quicker decision making and allowing institutions using loan origination solutions to make rapid offers to potential customers. Financial institutions are increasingly looking to automation to cut costs and improve efficiency, and loan origination solutions can help a great deal when it comes to that.

Who Uses Loan Origination Software?

Within the broader designation of lenders, there are several subsections of the industry that use loan origination software. Financial institutions that offer loans are the primary users of loan origination solutions leveraging these tools to automate underwriting, verify documents, approve credit, and more.

Commercial lenders — Commercial lenders are loan professionals in credit unions, banks, and other financial institutions.

Mortgage lenders — Lenders who focus entirely on mortgage lending. These are end-customer focused lenders dealing with relatively large loans for the purpose of purchasing a home.

Borrowers — Borrowers interact with the customer portal provided by the loan origination solution.

Construction lenders — These lenders focus primarily on extending loans for construction projects.

Loan Origination Software Features

Loan origination software often contains, but is not limited to, the following features.

Document management — Loan origination solutions manage borrower documents, including the ability to verify relevant documents to help determine an individual applicant’s creditworthiness.

Loan processing — Maintains a repository of loan related documents, collecting new ones from incoming customers and aiding in the preparation of the documents.

Compliance management — Provides compliance management functionality for loan origination specific policies and the ability to change to comply with updated regulations.

Underwriting and rating — Automates underwriting and rating functions by providing built-in risk analysis. This feature allows users to construct custom approval rules.

Client management — Contains client information and facilitates client-lender communication. Consolidating client communications within the platform reduces the number of channels clients have to communicate with the lender.

Audit trail — This feature ties to compliance, and allows lenders to audit loan origination activities. Audit trails also provide better visibility into loan changes and streamline the process for any external third-party audits.

Pricing engine — Allows customers and potential customers to build out different potential loan situations and test out different inputs.

Customer portal — Self-service customer portal through which borrowers can upload documents, update information, check on account status, make loan payments, and more. The portal drives more engagement with fewer resources expended by the lender.

Loan servicing — Either provides bundled loan servicing functionality or integrates closely with a loan servicing solution. This provides a full service loan management solution for lenders.

Dashboards — Contains centralized dashboards for loan portfolio management.

Potential Issues with Loan Origination Software

Integration — Loan origination software needs to have solid integrations to other types of software like loan servicing software and mortgage CRM software, or contain integrated functionality that mirrors the feature sets of those types of solutions. Loan origination solutions should be relatively comprehensive, providing lenders with a holistic tool designed to take care of all loan management related needs. The goal of loan origination solutions is to drive success for lenders, which is why ease of use is key. Good integrations are vital to the ease of use, as they facilitate a consolidation of lending related data and eliminate possible headaches that accompany the use of multiple disparate systems that are not connected.

Security — Data security is extremely important for lenders looking to stay compliant with increasingly strict regulations around financial data. Financial data is important information that needs to be protected. Loan origination systems collect and maintain detailed financial records on lenders’ clients and prospective clients, making the systems’ security vitally important.

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