If you're a lender, then you know that staying organized is key to your success. What you might not realize is that using the right loan software can help you do just that.
Our Nortridge Loan System (NLS) is one such software. We bring enterprise-grade loan management solutions to all lenders. Our platform can fully replace legacy loan servicing software, helping lenders enter new markets and stay ahead of the competition.
You might be reading this thinking, "Do I need loan management software?" Well, if this is sounding good so far, then you probably do! But to help you answer that better, let's take a look at the top three loan management software benefits of Nortridge. If it feels like you could use any one of them, then yes, you need loan management software in your life!
What is Loan Management Software?
Loan management software is a type of financial software that is designed to help businesses keep track of their loans and manage repayments. The software can be used to monitor multiple loans from different lenders, and it can provide reports on the status of each loan. Loan management software often includes tools for loan origination, servicing, and collections. It can also help businesses track the performance of their loan portfolio. Loan management software can be used by banks, credit unions, and other financial institutions. It can also be used by businesses that lend money to customers, such as car dealerships and pawn shops.
Software like this helps lenders improve the efficiency of their operations while reducing costs. It also aids with optimizing your lending processes to provide a better experience for borrowers. Read on to learn more about the top three loan management software benefits that our Nortridge System provides.
1. Endless Customization
When it comes to loan software, one size does not fit all. That's why our NLS software offers endless customization, so you can tailor it to fit the unique needs of your business. For example, you can set up the loan term length, interest rate, and repayment schedule according to the terms of each of your borrowers' loans. You can also choose which features to include in the software, such as a payment gateway or automated email reminders.
Best of all, our Nortridge loan software is easy to use, so if you're looking for a loan software solution that offers plenty of flexibility through customization, then look no further than Nortridge.
2. Robust End-Point Integrations
At Nortridge, we understand that in order for our loan software to be the best it can be, it needs to offer robust end-point integrations. This is why we have worked hard to ensure that our software easily integrates with a variety of different systems. Whether you're using QuickBooks, Microsoft Dynamics, or another accounting system, our software will fit right in. This way, you can avoid the hassle and expense of switching to a new system. In addition, our software offers a variety of other features that will streamline your loan process and make it more efficient.
So if you're looking for the best loan software on the market, look no further than NLS. We're confident that you won't be disappointed.
3. Innovative Loan Management Solutions
There are so many pros of loan management software. NLS was designed to streamline your lending process and increase efficiency. Our software is easy to use and provides a wide range of features for managing your loans. Save time and improve the overall efficiency of your lending operation, with Nortridge. Here are just a few of our innovative loan management solutions that can help you.
With our software, you can easily service loans, from tracking communications and payments to managing disbursements. You can also monitor loan performance and spot any potential problems early. It makes it easy to keep track of important information about each loan, such as payment history, interest rates, and more.
Keep track of all your contacts, from clients and customers to prospects and referral sources. Easily add new contacts, edit existing ones, and keep track of all your correspondence with them. Stay organized by automatically categorizing your contacts according to their type (e.g., client, prospect, referral source, etc.). And if that's not enough, our loan software also offers a host of other features designed to make your life easier, including a task manager, a document library, and much more.
Reports and Data Output
With 40+ filter criteria for sorting and selecting report data, you have the ability to automatically schedule 100s of standard reports and save the parameters so you can schedule them to run automatically at predetermined intervals in the future.
Automations and Workflow
[Nortridge loan management software](/loan-management-software-and-system/')can help you automate many of the tasks involved in loan management, such as generating reports and sending reminders. It can also automate many processes related to lending, making your job easier overall. At the end of the day, workflows and automation save time, eliminate human error and reduce administration costs.
Interested in learning more about the automation and workflows you can create? Schedule a demo with a Nortridge Pro.
Email and SMS
NLS can be configured to automatically send email and SMS text messages for the following events:
- ACH Return - when an ACH return is processed.
- Card Decline (Recurring type) - when a recurring card transaction is declined.
- Card Processed (Recurring type) - when a recurring card transaction is processed.
- Late Notice - when a late notice is generated.
- NSF - when a nonsufficient funds event occurs.
- Payment Posted - when a payment is posted to a loan.
- Payments Due - when a payment is due.
- Statement - when a statement is generated.
The cloud-based dashboard gives lenders a single place to track loans with its online payments, communication and mobile platforms. It also offers an analytics reporting system that allows them to keep tabs on how much they've lent out as well as who's been borrowing from them!
The fully integrated collections module allows you to see all of the pertinent information about a delinquent loan or borrower on one screen. This easily customizable database will allow your company to gather important data tailored specifically for activities including the number of times a borrower has had NSF payments past due 10, 30, 60, 90 and 120 days, as well other statistical insights like frequency at which broken promises were made.
A one-stop shop for all of your technical support needs, we offer an unmatched customer support and training center where you can submit a ticket and expect a quick response time, watch helpful videos that teach how to use the application, or read our extensive knowledge base and user guides when you need more information!
Are you still asking: "Do I need loan management software?"
With all the pros of loan management software, if you are a lender, the answer to that question is a big YES. Anyone in lending today needs to have loan software if they want to keep up with the competition. Schedule a demo with our team to see if Nortridge is right for your business. You can't beat our pricing for the value!