Prime Alliance Solutions

Most Trusted Mortgage Loan Platforms In 2021

Updated: Dec 19, 2021

When all of the experts in the home-buying sector collaborate, not just to reach the end objective of a delighted customer, but also to team up with the tools they use and integrate the technology they utilize, they achieve the highest levels of customer service and efficiency.

Are you a fan of basketball, or perhaps soccer? Whatever your favorite team sport is, you undoubtedly appreciate it when a group comes together, everyone doing their job, and functions as a single unit. It doesn't happen very often, but when it does, it's worth noting and discussing for years.

The same may be said about the process of purchasing a property. When all of the experts in the home-buying sector collaborate, not just to reach the end objective of a delighted customer, but also to team up with the tools they use and integrate the technology they utilize, they achieve the highest levels of customer service and efficiency.

Before we introduce you to the most popular mortgage loan platforms, let us know first what a mortgage loan is.

What Is Mortgage Loan?

A mortgage loan is a secured loan in which you borrow money by pledging your property as collateral to the lender.

This is a popular kind of financing since it allows the borrower to obtain a large loan amount with a long repayment period.

A mortgage is a loan secured by an immovable asset, such as a home or commercial property. Until the borrower repays the entire loan amount, the lender maintains the asset as collateral.

Three Types Of Mortgage Loan

  • Home Loan

You can only avail of this kind of loan when you purchase a home.

  • Commercial Property Loan

You can only avail of this kind of loan when you purchase a commercial building or property.

  • Loans Against Properties

There are no restrictions on how this loan can be used. It can be used to pay for international schooling, a wedding, or house renovations, among other things.

We have listed down some of the most trusted and efficient mortgage loan platforms.

Encompass

Encompass by Ellie Mae was created to give you a completely integrated experience with a single system of record for all of your mortgage information. This benefits in verifying compliance, ensuring quality, and increasing efficiency throughout the lending process.

A CRM (customer relationship management) component, as well as point of sale, processing, underwriting, closing and funding, and post-closing and shipment, are all included in the software.

On the About page of their website, they stated, "We’re about more than mortgages. Homebuyers don’t dream about having a mortgage. They dream about having a home. Which is why our mission—we call it our North Star—is to automate everything automatable for the residential mortgage industry. We’ve been doing it since 1997."

Lending QB

The "Lean Lending Solution" is well-known at LendingQB. A service-oriented architecture is one component of this, as it allows the LendingQB platform to integrate with other external systems.

Lean Lending Playbooks are available from the company to help lenders increase efficiency and streamline their processes.

Calyx

Calyx Software® is one of the leading producers of inexpensive mortgage solutions for lenders, having been designed by mortgage specialists.

It's an all-in-one solution that includes loan origination software, electronic document management, underwriting, and secondary marketing.

It also gives users access to a network of over 200 vendors, as well as closing paperwork, compliance services, and other features that make processing and reporting more efficient and accurate.

On the About page of Calyx's website, their mission is "Creating quality loan origination software that is easy-to-use and easy to access. Technology should help you, not hinder you. It’s why Calyx solutions pair accuracy and reliability with easy implementation. Streamline, integrate, and optimize all phases of the loan process. Receive expert industry insights and leading customer service."

Bytepro

Whether a mortgage company is in the retail, wholesale, or correspondent channels, BytePro Loan Origination Software is built to fit within their workflow. They can be customized to your company's specific workflow requirements.

Compliance checks, tracking of HUD-1 fee tolerances, fraud reports, and audit trails are all available. The system also manages document imaging, secondary marketing, web portals, and compliance audits in addition to compliance tools. BytePro's comprehensive compliance capabilities, such as real-time compliance monitoring, fee tolerance tracking, fraud reporting, and audit trails, help you prevent costly mistakes.

They stated on their website, "At Byte Software we are completely dedicated to ensuring that our clients succeed by getting the most out of our solutions. That's service you can trust."

LoanCommander

LoanCommander.com is a web-based suite of integrated products for the mortgage, loan processing, and lead generation industries. Mortgage specialists devised and built the tools.

LoanCommander.com claims that it is the only site that allows you to track your loans in real time. When the status of your loan changes, send pre-formatted status emails. Allow everyone, including realtors, processors, and brokers, secure login access.

Conclusion

It is important to have a smooth and efficient process for a mortgage loan company to attract more sales.

Select a title company that is integrated with the leading mortgage loan platforms if you want to see your house buying team perform successfully.