Loan Servicing Software & Tracking System for Lending Businesses
The lending business is constantly evolving, and sometimes it moves in a complete circle. One of today’s strongest trends takes us back to the good old days when lenders would service their own loans after the application was approved.
Selecting a loan servicing software package with comprehensive loan tracking and monitoring software features can be a daunting task. Origination and servicing are two very different disciplines, so your loan servicing software solution must meet its own unique set of requirements. It’s worth taking the time to get it right. The correct system for your business will save you time and increase employee productivity by helping you gain greater control over regulatory and compliance issues. The wrong loan tracking and monitoring software system can create headaches, losing your company its hard fought profits. In addition an advanced platform will flag incremental income opportunities for upselling or cross selling additional products to high potential customer segments.
Here are some of the key factors to consider when choosing a servicing software that delivers long-term benefits to your lending operation.
It’s important to get your staff up-to-speed quickly to get the most from your new system. The Turnkey Lender platform provides an all-in-one loan origination and servicing system, so there’s no need for the IT department to integrate separate software into the existing origination platform. And our intuitive workflow acts like a built-in training tool.
IT support and customer service is available 24/7 to answer all your implementation and training questions getting you up-and-running fast.
Automation & Workflow
Turnkey Lender was created with the end-user in mind. It creates efficiencies by automating multiple mundane tasks, so your loan servicing managers can focus their best efforts on high level evaluation & decision tasks. We start with a rules based foundation system with pre-set parameters based on lending industry best practices. Your business is unique, so the system is easily customized to meet your individual needs.
Comprehensive Software Functionality
- Digital statement capability to supplement or even replace high cost paper statements
- Automatically tracks all interactions between lender and borrower, including payment history and customer service queries
- Automatically updates borrower credit bureau data
- Push communications via SMS, text and/or email for account alerts and payment reminders
- Customers can upload documents for fast, easy application review
- Customers can make payments via direct debits and auto-pay features
Interface & Integration
Simplicity is key when you’re designing a software solution that creates measurable efficiencies. The Turnkey Lender interface is clean and clear. It was designed to be understood intuitively with little or no cross reference to cumbersome manuals or pop-up screens. It easily integrates with multiple outside providers, so all the loan servicing tasks can be completed without the need to exit the loan servicing environment. This outside vendor integration also allows numerous data fields to be auto-populated, saving substantial time and energy by reducing the need for manual data re-entry. This process also reduces processing time by reducing human error during the data re-entry process.
IT Support & Customer Service
As a small to mid-size lender you don’t often enjoy the luxury of an internal IT department that manages all your technology needs in real time. At Turnkey Lender you (and your customers) get the next best thing. A team of technical professionals who are on-call and at your disposal 24/7 via online chat, email, live telephone call, or online Q&A. Whatever communication channel works best for you.
One with all the functionality reserved for big financial institutions, but specially designed for a small to mid-size lender?