Home/Loan Origination Software/Lenderfit vs LendingPadUpdated on: March 28, 2024

Compare Lenderfit vs LendingPad

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Overview

Summary

Lenderfit is a premier communication and application management tool for COVID related grants and loans. The platform is a one-stop portal for organizing and refining financial data. It helps to pull and pursue applicants through the process with automated weekly updates and inactivity alerts. Through the doc and process management feature, users can reduce errors when submitting to underwriting and obtain corrections faster. It’s a mobile application process that leverages SMS without downloading any applications. The tool is a real-time shared workspace between applicants and lending teams from start to approval. It comes with custom workflows for any loan product and mobile-friendly loan projects. The tool has SMS alerts and automatic notifications when information is updated and items are completed. It provides a clear application process and key review milestones with easy onboarding and training features. Lenders can enjoy item-specific conversation threads and secure document uploads and storage. The tool provides teamwide collaboration and is adaptable to any language. ..show more

LendingPad is a cloud-based loan origination software that offers a complete platform for loan origination solutions for institutions, mortgage brokers, banks, service providers, and lenders. It is specially designed to streamline the lending process, minimize mortgage lending costs, and strengthen communication. This innovatively built platform is fully secured and potently optimizes the complex loan origination process designed by mortgage banking professionals. Moreover, this software allows the user's to originate loans from anywhere with a proper internet connection. Users can incorporate with third-party data providers to manage and connect with leads promptly. This tool can gather data from retail branches, consumer online portals, call centers, and in-house loan officers. The Lender edition comprises functionalities that offer secondary, closing, underwriting post-closing, and funding. Furthermore, to enhance the connectivity and operating efficiency, a range of customization features are offered for Institutions to scale the business to the next level. With processing centers, users can equip contract processing teams to cater to more clients with extensive volumes. LendingPad follows a quotation-based and subscription-based pricing strategy that includes institution edition and broker edition. ..show more

Features

Audit Trail A record of changes made in chronological order of a user or activity

Chat (Messaging) Allows users to collaborate better by exchanging views and collect information through chatting or texting

Client Management (Customer) Facilitates strong necessary data about clients/customers and allows access to it when required

Collaboration Helps you safely share data with only those who matter and enhances your teamwork

Compliance Management Helps in making an assessment of risks, ensures policy comprehension and that policies/procedures are being followed

Custom Workflows Facility to create workflows with custom stages, process, and status.

Document Management Ability to store and manage various information and documents in electronic format.

Mobile Access Allows accessing the software and product/service related information from a mobile device

Workflow Management Helps in managing and ensuring smooth flow of the tasks assigned to a team or organization

e-Signature Electronic Signatures help users to sign their digital documents remotely

TECHNICAL DETAILS

Access Monitoring

24/7 (Live rep)

Business Hours

Online

Contact Number/Address

Louisville, Kentucky

McLean, Virginia / +1 202-796-2790

API

N/A

Deployment

SaaS/Web/Cloud

Mobile - Android

Mobile - iOS

Mobile - Windows

Mobile - BlackBerry

Installed - Windows

Installed - Mac

Customers

Individuals

Freelancers

Large Enterprises

Medium Business

Small Business

Pricing

Pricing Model

Free Trial

Freemium

One-time license

Open-source

Subscription

Quotation Based

Plans

Lenderfit
$200 /Month

$200 per month for the first 3 months

Features

  • Up To 4 Users
  • Automation
  • Doc & Process Management
  • The Cloud Plus Mobile
  • Faster Communication
View Price Page
Broker Edition
$40 /User/Month

Features

  • Retail Channel
  • Email Support
  • Free Weekly Live Training
  • Broker's Feedback Forum
  • Unlimited Document Management
  • LendingPad Network Access
  • Integrated Service Providers
  • Standard Support Hours
  • Optional:
    • Disclosures with e-Sign
    • Custom e-Sign Documents
    • Phone & Extended Support
  • Requires:
    • Annual Billing Required for 5 Users or Less Setup Fee Depending on Complexity Minimum Contract 12 Months
Broker Edition
Custom

Features

  • Direct and Retail Channels
  • First 90-Days Setup and Implementation
  • Consultations to Improve Workflow
  • Unlimited Users
  • Unlimited Document Management
  • LendingPad Network Access
  • Free Weekly Live Training
  • Lender's Feedback Forum
  • Optional:
    • Wholesale and Correspondent Channels
    • Onsite Setup, Implementation & Training
    • Extended Support Hours
    • Live Support Options
    • Custom Features & API Access
  • Requires:
    • Minimum Monthly Usage
    • Setup Fee Depending on Complexity
    • Minimum Contract 36 Months
Institutions Edition
Custom

Features

  • All features in Brokers and Bankers Edition
  • Phone Support Standard Business Hours
  • Unlimited Users & Document Management
  • LendingPad Network Participant
  • Retail, Direct, Wholesale and Correspondent Channels
  • API’s to Connect with Existing Systems
  • Optional:
    • Continuous Data Export 24/7
    • Customized Workflow
    • Dedicated Account Executive
    • Extended Support Hours
  • Requires:
    • Minimum Monthly Usage
    • Setup Fee Depending on Complexity
    • Minimum Contract 36 Months
View Price Page

SCREENSHOTS

Lenderfit Screenshots
LendingPad Screenshots

ALTERNATIVES

Top alternatives to Lenderfit

Floify
Floify
LendingPad
LendingPad
TurnKey Lender
TurnKey Lender
CreditCore
CreditCore
LendFoundry
LendFoundry

Top alternatives to LendingPad

Floify
Floify
Encompass
Encompass
TurnKey Lender
TurnKey Lender
CreditCore
CreditCore
LendFoundry
LendFoundry