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LendingPad Reviews & Product Details

LendingPad is a modern loan origination system (LOS) designed to streamline the mortgage lending process for lenders, brokers, bankers, and credit unions. This comprehensive solution provides a centralized platform that enhances compliance and automates the lending workflow. By integrating advanced technology into the mortgage industry, LendingPad aims to simplify operations, improve efficiency, and ultimately reduce the overall cost of business for its users. Targeted primarily at professionals within the mortgage sector, LendingPad caters to a diverse audience that includes independent brokers, large financial institutions, and credit unions. Each of these entities faces unique challenges in managing loan applications, compliance requirements, and customer interactions. LendingPad addresses these challenges by offering a suite of tools that facilitate the entire lending process—from application to closing. This versatility makes it an attractive option for organizations looking to enhance their operational capabilities while ensuring adherence to regulatory standards. Key features of LendingPad include its user-friendly interface, automated workflows, and robust reporting capabilities. The platform allows users to manage loan applications efficiently, track progress in real-time, and generate detailed reports that provide insights into performance metrics. The automation of routine tasks not only saves time but also minimizes the risk of human error, ensuring that compliance requirements are consistently met. Furthermore, LendingPad’s centralized system enables seamless collaboration among team members, enhancing communication and productivity. Another significant benefit of LendingPad is its adaptability to various business models within the mortgage industry. Whether a user is a small brokerage or a large banking institution, the platform can be customized to meet specific operational needs. This flexibility, combined with its comprehensive feature set, positions LendingPad as a valuable tool for organizations aiming to optimize their lending processes. By leveraging this technology, users can focus more on building relationships with clients and less on administrative burdens, ultimately leading to a more effective lending experience. In summary, LendingPad stands out in the loan origination system category by providing a centralized, compliant, and automated solution tailored to the needs of the mortgage industry. Its focus on enhancing efficiency and reducing costs makes it a practical choice for lenders and brokers seeking to improve their business operations.

Product Website

Seller

LendingPad Corp

Discussions

LendingPad Community

Languages Supported

English

Product Description

Loan Origination System is a full-featured, 100% cloud-based, forward-thinking enterprise LOS. It is designed for all of your daily origination needs including borrower engagement (Point-of-Sale), team interactions, processing, document management and connectivity to your favorite service providers. It has been time-tested by thousands of satisfied brokers and lenders in startups as well as larger operations, and is constantly evolving to offer you the latest technology you need to succeed.

Overview by

Wes Yuan

Pricing

Pricing provided by LendingPad.

Institution Edition

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LendingPad Media

Lending dashboard clearly displays task, last activity, compliance, and volume information.

LendingPad Demo - Flexible User Accessibility

Unlike many legacy systems, users can power their lending experience on an iPad or other mobile devices that support the latest Chrome/Edge browsers.

Data and documents displayed side-by-side making data reconciliation efforts easy. Customized color theme options for each company and individuals to further optimize the usage experience.

Streamlined call report filing experience. Easy to compile with two clicks saving time. Both standard and expanded versions are supported.

LendingPad Demo - System Administration with Ease

No matter how you are growing in volume, location, the number of users, and lending business models (broker, hybrid, bankers), you can rest assured that LendingPad is highly configurable to cater to your business growth needs! It is easy to administer and to scale with LendingPad!

LendingPad Demo - Great Support and Free Live Training for Users

Free, live training sessions for loan officers, processors, underwriters, closers, ops, compliance, admin staff members. Enroll anytime or watch a past recording. Support options include Knowledge Base, email, chat, wizard-style walk-throughs, and one-on-one screen share with one of LendingPad...

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Kimberly S.

Small-Business (50 or fewer emp.)

2/1/2024

"LendingPad - Great Customer Support"

4.5/5

What do you like best about LendingPad?

LendingPad has fantastic customer support. Staff responds very quickly to my inquiries and really does a great job of helping to resolve problems. I can't think of a time that I left a support chat without my problem resolved, or at least with guidance as to how to resolve it outside of LendingPad. I use LendingPad daily, and I contact customer support regularly, and I'm always happy with the response. Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

I'm not loving the most recent changes made to the interface. A couple of weeks ago certain pieces of information that are typically input into an application are no longer accessible via usual way, and it's taken some time to figure out how to input that information in the new LendingPad format. Having to directly access the "URLA form" is not the most user friendly, in my opinion. Review collected by and hosted on G2.com.

Response from Anais Fernandez of LendingPad

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Thank you for sharing your positive experience and valuable feedback about LendingPad.

We're thrilled to hear that you appreciate our fantastic customer support and the quick response you receive from our staff. It's great to know that you consistently find assistance in resolving issues promptly, making your daily use of LendingPad a positive experience.

We understand that recent changes to the interface, particularly the adjustment in accessing certain information through the "URLA form," have caused some challenges. Change can take a moment to adjust, and we appreciate your patience during this transition period. If you encounter any difficulties or have questions about the functionality of the URLA Form or any other aspect of LendingPad, please don't hesitate to reach out to our support team. We're here to help and ensure a seamless experience for you.

We're delighted to hear that LendingPad continues to benefit you by streamlining the loan application process and providing easy accessibility through the tabs at the top of each loan page. Your feedback is instrumental in guiding our ongoing efforts to improve and refine our platform.

Thank you for being a valued member of the LendingPad community.

Scott M.

Mortgage Loan Officer - NMLS 1492315

Mid-Market (51-1000 emp.)

2/26/2021

"I LOVE LENDINGPAD!!!"

5/5

What do you like best about LendingPad?

Here are some of the things that I love about LendingPad:

•This is an easy to use web based system which is accessible anywhere that you have an internet connection. I use it on my desktop computer, laptop, and on my iPad. In rare cases I will log in on my iPhone. It is even possible to log on while on a plane!

•Multiple users can work in a file at the same time without anyone getting locked out.

•This software will super charge your processors and loan assistants. LendingPad allows my processor to effectively manage large case loads.

•The help desk is super responsive and they are open to suggestions for future updates.

•Robust document management system that allows you to upload a multi page document and then split it apart into separate docs. Pages can be easily rotated and re-ordered as needed.

•Easy to generate reports are available with a few clicks.

•Integration with title company partners which pulls in section C and E fees. Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

I wish that LendingPad would allow users to create custom reports by using a query system that would allow the user to pick and choose the fields that are pulled into the report. Many of the reports that LendingPad generates provide too many data points and I have to export them to Excel and then delete the columns that aren't needed. I also wish that the Loan Worksheet would separate the actual mortgage payment from the association fees - currently everything is lumped together into a line item that says Total Monthly Payment Review collected by and hosted on G2.com.

Response from Wes Yuan of LendingPad

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Dear Scott, we do have custom report feature available in the system. Please watch this video on how to create it. https://youtu.be/-jcB-e45CVA If you are looking at creating your own custom pipeline view, pls check out this video https://youtu.be/itVS9b2dR9A Thank you.

Jason M.

Small-Business (50 or fewer emp.)

1/31/2024

"Easy of use and intuative"

5/5

What do you like best about LendingPad?

The layout and ability to navigate a file is lightyears ahead of other software I have personally used in the past. The intergration with the POS system and the documents uploading right to the loan itself. It is clear and easy to navigate your way through. The staff is so very responsive within the chat box as well if I ever get myself into a spot I am unsure what to do. I use it everysignle day, it is the first tab that I open after my emails. We have been able to get this up and running for our company in no time - it has been the least cumbersome of the enitre process. Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

Cannot downloan all of the attachemnets a borrower uploads at once. I would love a download all button.

Not haveing a slide button if a veteran is funding fee exempt. Seems odd there are buttons all over for other items and this seems like a very easy fix. Funding fee exempt clicked and it removes the fee, instead of me needing to zero it out and if it doesn't hold having to redo it over and over again. Review collected by and hosted on G2.com.

Response from Anais Fernandez of LendingPad

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Thank you for sharing your positive experience with LendingPad.

We're thrilled to hear that you find the layout and navigation capabilities to be ahead of other software, making it clear and easy to use. Your appreciation of the integration with the POS system and the seamless uploading of documents to the loan is fantastic. We're also glad to know that our support team has been responsive and helpful, making your daily use of LendingPad a smooth and efficient process.

Regarding your suggestions for enhancements, we value your input. We understand the importance of features like a "Download All" button for attachments and a slide button for veteran funding fee exemption. To ensure that your suggestions are considered for possible future product enhancements, we highly recommend adding them to the new feature suggestion button under Support in the LendingPad portal. Your feedback is crucial, and we appreciate your contribution to making LendingPad even better.

We're delighted that LendingPad has solved issues with long loading times and lag for you, providing a more efficient and streamlined experience. Thank you for being a valued member of the LendingPad community, and if you have any further suggestions or questions, please don't hesitate to reach out.

Drew M.

Small-Business (50 or fewer emp.)

2/1/2024

"Way Better Than Any LOS I've Used"

5/5

What do you like best about LendingPad?

LendingPad integrates seamlessly with our CRM system and is very user friendly. It allows multiple people to view and edit a file at one time, and it refreshes with updates within seconds. The previous LOS that I used was clunky, old fashioned, and took several minutes to load for certain tasks. I recommend LendingPad to anyone considering an alternative. The support staff is incredibly helpful as well and helps whenever I have an issue with my day to day use. Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

It can freeze from time to time, sometimes causing lost work. There are frequent updates made to the system, which are ultimately for the better, but getting used to the updates can take some time. Review collected by and hosted on G2.com.

Response from Anais Fernandez of LendingPad

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Thank you for taking the time to share your experiences with LendingPad! We're thrilled to hear that you find our platform seamlessly integrating with your CRM system and appreciate its user-friendly nature. It's fantastic to know that our system allows for simultaneous viewing and editing of files, with real-time updates.We appreciate your recommendation and are delighted that our support staff has been helpful in addressing any day-to-day issues you encounter. We understand that occasional freezing can be frustrating, and we highly recommend clearing your cache to improve this. We also acknowledge the frequent updates, and while aimed at improvement, we encourage you to reach out to our support team for additional assistance as you adjust to a new system.

It's great to hear that LendingPad is solving key problems for you, especially in terms of CRM integration and the ease of accessibility. We're committed to providing a reliable and efficient experience, and your feedback is invaluable in guiding our ongoing efforts. If you ever have further insights or suggestions, feel free to reach out. Thank you for choosing LendingPad, and we're honored to be a part of your loan origination journey!

Sharon K.

Mortgage Broker

Enterprise (> 1000 emp.)

1/30/2024

"Easy to Navigate"

5/5

What do you like best about LendingPad?

1stop shopping for needs with lots of hidden gems. So much available and the absolute best part is when you get stuck or have a unique circumstance, instant chat is available with friendly and helpful agents. Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

I don't think there is a downside per se but what would be incredibly helpfull is if: 1) Chat history can be saved because many times a question is asked and you don't experience it again for moons later, 2) Loan sorting critieria in queue....for some reason, new loans get buried, unable to find them in the dashboard. There was a change to the system because you used to be able to see it but now you have to go to the pipeline and try and scan all the loans page by page. Review collected by and hosted on G2.com.

Response from Anais Fernandez of LendingPad

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Thank you for sharing your positive experience with LendingPad and highlighting the convenience of one-stop shopping with many hidden gems. We're thrilled to hear that our instant chat support has been a valuable resource for you.

Your feedback regarding the chat history and loan sorting criteria is valuable. To make these suggestions visible for potential future enhancements, we recommend submitting them as new feature suggestions. The development team actively considers user input, and your insights could contribute to improving the overall experience for everyone.

In the meantime, we're glad to know that LendingPad is assisting you with DTI ratios and loan construction. If you ever have more suggestions or specific needs, feel free to reach out. We appreciate your partnership and are committed to continuously enhancing LendingPad to meet your expectations.

Timothy R.

Marketing Manager

Small-Business (50 or fewer emp.)

1/30/2024

"Was a great system that has been outpaced by other alternatives"

4/5

What do you like best about LendingPad?

The user interface is great and the interaction with the 1003 is segmented in a way that makes sense. The integrations work well and accessing recent files is easy enough. It's a good platform and much better than Calyx or Encompass. The support options are nice and the team is quick to respond to email and ticket inquires. Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

Inability to develop true quality of life improvements. They also abandonded improving their Zapier integration almost entirely. Lots of load time issues and hangs on saving have frustrated our team endlessly. There are other newer players in the LOS sphere that have outpaced Lending Pad sadly in their usability, interface and integrations. Review collected by and hosted on G2.com.

Todd M.

Small-Business (50 or fewer emp.)

1/30/2024

"Lending Pad makes Mortgage Lending Easy"

5/5

What do you like best about LendingPad?

The Lending Pad platform is user friendly, eay to navigate. Provides the necessary integrations for file, credit and file contact import as well as interface with many popular CRMs. Implenenting the platform was quick and easy and contacts from our prior Encompass platform were able to be transfered into the Lending Pad system. Also the per user cost is more affordable then comparable platforms. Customer support is very responsive and easy to connect directly through the Lending Pad application. Lending Pad is a great LOS for any mortgage company. Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

In the REO section it requires a property designation change in order to ensure it calculates accurate debt to income ratio if a borrower is retaining an existing home. Review collected by and hosted on G2.com.

Response from Anais Fernandez of LendingPad

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Thank you for sharing your positive experiences with LendingPad. We're thrilled to hear that you find our platform user-friendly, easy to navigate, and appreciate the seamless integrations for file, credit, and contact imports. We understand the importance of a smooth transition, and we're delighted that your contacts from the previous Encompass platform could be effortlessly transferred into the LendingPad system.

It's great to know that the platform's affordability and the quick implementation process have been valuable to your mortgage company. We also appreciate your positive feedback on our responsive customer support and the convenience of connecting directly through the LendingPad application.

Regarding your comment about the REO section, we understand your concern about the property designation change requirement. This step is necessary to ensure accurate debt-to-income ratio calculations, particularly when a borrower is retaining an existing home. The adjustment is essential for the Automated Underwriting System (AUS) to read the loan accurately and provide precise assessments. However, as you know LendingPad is always improving so please don't hesitate to use the new feature suggestion for potential future enhancements to the REO section.

We're pleased to hear that LendingPad has contributed to the efficiency of information input and accelerated the pre-approval process for you. Our goal is to continually provide solutions that benefit your mortgage company, and your feedback plays a crucial role in helping us refine and improve our services.

Thank you for choosing LendingPad as your LOS, and we look forward to serving you with even more enhanced features in the future.

Michael W.

Small-Business (50 or fewer emp.)

2/6/2024

"Solid platform but limited in functionality."

2.5/5

What do you like best about LendingPad?

I like the stability of the platform and the integration capability to it. In the 2.5 years of using it, I do not remember a time that I was not able to access it. the customer support was pretty top notch and willing to assist, even if it was to navigate some functionality. Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

My biggest drawback was the load times, especially the Pipeline view. I ended up leaving LendingPad for another platform based on the load times and lack of integrated features. For example, they integrated eSign but charged per envelope. It was cheaper for me to keep my DocuSign account (but it was able to integrate with LendingPad). The platform I changed to offers eSign for free. It seems that LendingPad is capable of integrating with whatever you want, however there is time and money to adopt the other services and then get them integrated. Review collected by and hosted on G2.com.

Response from Anais Fernandez of LendingPad

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Hello Michael! We wish you all the best in your new ventures! Your time with LendingPad was valued, and we appreciate your contributions. Should you ever consider returning or if there's anything we can assist you with in the future, please don't hesitate to reach out. Wishing you success and fulfillment in your new endeavors!

Janelle V.

Residential Mortgage Loan Originator

Small-Business (50 or fewer emp.)

1/30/2024

"Easy to use and excellent customer service!"

5/5

What do you like best about LendingPad?

It's user friendly and I can log in whereever I go. Easy to upload files, simple to see the status of my file at a glance. And anytime I have a I have a question, the bubble is right there to help! Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

I would love to have a different way to view Active files versus leads or credit repair. It seems to list the last ones you touch at the top but then I have to search for my active files again. Maybe folders where we can sort for easier viewing? Review collected by and hosted on G2.com.

Response from Anais Fernandez of LendingPad

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Thank you for sharing your positive experiences and feedback about LendingPad.

We're thrilled to hear that you find LendingPad user-friendly and appreciate its accessibility, allowing you to log in from anywhere. The ease of uploading files and the clear status overview feature are essential aspects of our platform, and we're glad they contribute to your positive experience. It's great to know that the support bubble is readily available to assist you with any questions you may have.

In response to your feedback about viewing Active files versus leads or credit repair, we want to highlight that LendingPad provides the flexibility to create custom views, allowing you to streamline specific search parameters. Additionally, when viewing the last modified loans in the dashboard, this is a more specific search that captures recently edited loans, providing a more targeted approach compared to the general pipeline search.

We're also delighted that you found the feature of converting JPG to PDF helpful. If you have any more suggestions or if there's anything else we can assist you with, please don't hesitate to reach out. Your feedback is essential in guiding our efforts to enhance the LendingPad experience.

Thank you for being a valued member of the LendingPad community.

Verified User in Financial Services

Small-Business (50 or fewer emp.)

2/2/2024

"Excellent Price-Value-Efficiency mix"

4.5/5

What do you like best about LendingPad?

Lending Pad provides many beneficial features for workflow, document and loan management at a price which is quite reasonable relative to those benefits. With careful application of business rules and custom fields, we have tailored the system to better accomplish our most efficient pipeline management. As well, other features such as automated task helps us to ensure that staff is maximizing diligence in loan reviews. Review collected by and hosted on G2.com.

What do you dislike about LendingPad?

While I really enjoy the automation possibilities with business rules, it is sometimes frustrating at the length of time needed between making a request for field availability to rules and actually seeing a positive outcome to that request. Review collected by and hosted on G2.com.

Response from Anais Fernandez of LendingPad

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Thank you for sharing your detailed feedback about LendingPad.

We're pleased to hear that you find LendingPad to be a beneficial tool for workflow, document, and loan management, providing a reasonable price relative to its benefits. It's great to know that with the application of business rules and custom fields, you've been able to tailor the system to enhance your pipeline management. Additionally, we appreciate your recognition of features like automated tasks that assist in ensuring diligent loan reviews.

Regarding your feedback on the turnaround time for field availability and rule requests, we understand the importance of timely updates to meet your evolving needs. While we strive to add new fields and features promptly, we also want to ensure the accuracy and reliability of our work before rolling it out into production. This commitment to quality may result in some expected turnaround times, and we appreciate your understanding as we work to deliver robust and error-free updates.

We're delighted to hear that recent enhancements, such as the solution to the page issue and the addition of the shortcuts feature, have positively impacted your experience. Your feedback is invaluable, and it guides our ongoing efforts to improve and refine LendingPad.

Thank you for being a valued member of the LendingPad community.