LendingPad
4.6
132
LendingPad is a modern loan origination system that serves lenders, brokers, bankers, and credit unions. It offers centralized, compliant, and automated technology to the mortgage industry, providing solutions for the entire lending process and reducing the cost of business.
Strengths
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Efficient
Streamlines loan origination process
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Customizable
Flexible to meet unique business needs
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Integrations
Seamlessly integrates with other systems
Weaknesses
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Pricing
May be expensive for small businesses
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Learning Curve
May take time to learn and fully utilize all features
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Customer Support
Some users report slow response times from support team
Opportunities
- Growing demand for digital loan origination solutions
- Opportunity to expand into new markets or offer additional services
- Potential to form partnerships with other companies in the industry
Threats
- Competitors offering similar solutions
- Changes in regulations could impact the industry
- Economic downturns could impact demand for loan origination solutions
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Review Distribution
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👍
High - rated users
Easy to use program and online chat support.Wish there was an option to export the 1003 into the Lenders portal.
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👎
Low - rated users
None outweigh the cons.Numbers get transposed when uploading to lender portal, no option to create templates, every fee needs to be manually input, no real interface with lenders or investors, times out too fast, no ability to switch company profiles.
Media
LendingPad Plan
LendingPad offers a tiered pricing model with three versions, starting at $99 per user per month, with additional features and support at higher tiers.
Institution Edition
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LendingPad's Institution Edition includes All features included in our Brokers and Bankers Edition, Phone Support During Standard Business Hours, Unlimited Users & Document Management, LendingPad Network Participant, Retail, Direct, Wholesale and Correspondent Channels, and API’s to Connect with Existing Systems.
Broker Edition
50
1 User Per Month
LendingPad's includes a Retail Channel, Email Support, Free Weekly Live Training, Broker's Feedback Forum, Unlimited Document Management, LendingPad Network Access, Integrated Service Providers, and Standard Support Hours.
Broker Edition
Lender Edition
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Per Month
LendingPad® Lender Edition includes all of the origination features in the Broker Edition plus expanded features in operations, compliance, customization and overall support. Specifically, it includes:
Lending features such as underwriting, secondary, closing/funding, and post-closing functionalities
Expanded lending user roles.
Proper and compliant filing of MCR for loans made in both broker and lending channels Interchangeably stamp your company name as the broker, or the lender on disclosures, as legally required.
Lender Edition’s pricing structure is success-based instead of seat-based. There is no fees to add more users.
API access and support to power other systems or clients’ custom apps
Business rules
MERS generation and registration
UCD Registration with Fannie Mae and Freddie Mac free of charge instead of incurring a fee from doc vendors
Enterprise-grade hardware and low-latency performance
Custom user role/statuses/workflow features planned in 2023
Seamless TPO (third-party origination) expansion & DU redistribution capabilities
New features and tools are made available to lenders first on the platform free or at reduced fees
Point-of-sale (POS) included / MLO apps included / Chrome extension included / Comprehensive support options
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