LendingWise

Great Platform, Great Company

Vorteile:

Ease of use, customer service responsiveness

Nachteile:

Some features are still in beta or are not fully functional as of yet but the team is actively working on everything

Great bang for your buck!

Kommentare: Very happy with LendingWise and still haven't tapped into a majority of the functionality like email drip campaigns, full auto-doc generation, loan servicing. But what we use so far is great minus a few hiccups here and there that the LW team helps us figure out.

Vorteile:

We love the white label online application form that is easily customizable to our needs. We also use the loan origination/pipeline management every day as a team to help us track loans in their various stages of completion. I have done a ton of research on non-conventional lending software and this really checks most of the boxes we were looking for as a small company. There are some bugs that definitely need to be worked out but we are able to find workarounds and for a small company, you really can't beat the implementation and monthly costs. It's worth it to us to figure out how to make it work for us rather than paying 10x for other software applications that don't provide all the functionality we need.

Nachteile:

Difficulties in changing specific fields, especially in the loan terms, some tags just aren't available yet so we have to put values in other fields to make our auto docs work properly. Sometimes understanding how to configure the application and tap into it's many great features can be challenging. I come from a technical PM background so I get software and apps more than most - we are able to work around most challenges we come across but I don't think your average finance/lender would. I would say this would be a lot more difficult for the technically challenged individuals. But executive offers a great two-day implementation workshop that really helps. Definitely worth it to attend! Would love to see some custom reporting functionality in the near future so we can pull reports on our business.

Experience with Lending Wise Software

Kommentare: LendingWise is better than a lot of the products we were considering but still lacks a good deal of everyday application of real time communication from front office to back office.

Vorteile:

Good system to keep paperwork virtual and paperless.

Nachteile:

A glorified Dropbox. There are some features that would make the system intuitive but doesn’t work. Very one dimensional and slow when in response time and upload.

Lending Wise is building the perfect platform for Lenders

Kommentare: Having a "written" down process and being able to automate that process through multiple users and functions built within the system.

Vorteile:

I have to say the responsiveness of the support staff and development team is top of the line. They take time to listen and understand your needs/ concerns and they work tirelessly towards a solution. Lending Wise knows the difference between customer service and customer experience. Very few companies offer a customer experience and that's what lending Wise does. The dev team have created a robust and flexible platform where no matter where you are at in the hierarchy of lending you can utilize their platform. It is easy to include other people, who need to be kept in the loop concerning a loan file, but may not have access to the platform. It's flexibility to be used on a mobile device or a desktop is extremely useful as well as the simplicity of which a client or vendor can be as involved or minimally involved, as they chose with the platform makes a case for utilizing this LOS as your companies go to source for originating, processing, underwriting, closing and tracking your loans that you and your team are continually moving.

Nachteile:

The design element has a somewhat 90'ish aesthetic feel. The dev team has focused on functionality and flexibility though and those make up for the lack of aesthetic design.

Taking Our Business to a New Level

Vorteile:

We researched all CRM-LOS systems based around the financial industry and none come close to LendingWise. They have been very helpful and the training was amazing for team. The system covers the entire Deal from Lead to Funding, it has streamlined our process and has helped us in taking our business to the next level. As we grow so does the LendingWise system for our needs. We made the right decision with LendingWise and we couldn't be happier.

Nachteile:

No so much a con, but the initial setup in customizing the system for our company was quite a task and we had some growing pains in the process; however, it was worth it and was no different then it would have been with any other system ... Rep and his team were very helpful.