Loan Servicing Software
Service the Entire Loan Life Cycle
Create Beautifully Tailored Loan Products
Support multiple lines of loan products like installment, marketplace unsecured,
secured loans, lines of credit, mortgage, auto, and many more.
Loan Types
Easily create different loan types including term loans, non-revolving, commitment and pool loans.
Collections
Choose among simple interest, fixed amortized, fixed amortized (beginning), Rule of 78s and average daily balance.
Accrual
Accrue on the first day, or the last, or both. Beginning or end of day. Interest year of 360, 364, 365, 366, or actual.
Interest Rates
Set a base rate (e.g. Libor, WSJ Prime). Compound based on days, number of periods. Set minimum interest, a post-maturity rate, default interest and same as cash.
Payment Periods
Choose among days, weekly, bi-weekly, semi-monthly, 28 days, monthly, bi-monthly, quarterly, semi-annually, annually, maturity, or define your own.
Automatic Late Fees
Automated Late Fee and NSF processing – automatic removal on effective dated payments or addition on reversals and NSF.
Payment Application Options
Define the payment application waterfall and customer rules to control thresholds and payoffs.
Accept payments that adapt to your customers
The best way to improve collections is to avoid delinquent accounts in the first place. It starts with making it easy for your borrowers to make payments – in the way that works best for them. Nortridge Software natively accepts credit cards via our partnership with Merchant Partners. You can do recurring credit card transactions and recurring ACH payments. All with the enterprise-level security one would expect from Nortridge.
Accept Credit Cards
Accept credit cards and debit cards safely and securely.
ACH Payments
Set up recurring automatic ACH payments natively.
LockBox
Tie your lockbox account to
Nortridge Software.
Western Union
Easily accept Western Union payments.
MoneyGram
Easily accept MoneyGram payments.
And Many More
Need to accept a different form of payment? Contact us
Contact & Borrower Management
Maintain a tightly integrated record of borrowers, investors, dealers, and much more.
Rich Data on Every Borrower and Contact
Track and leverage all the information you need for every borrower and contact. Pull and store credit reports, verify addresses, track information on loans and detailed demographics with user-defined fields (UDFs). All of this information is tied to reports allowing you to manipulate and analyze all data, and use it to better originate and collect on loan products.
Omni-Channel Communication
Communicate to your borrowers based on their preferences. Send them texts*, emails, or classic mail. Give them the ability to make payments, pull statements and check their balance via a borrower portal. All communication is stored back in the Nortridge Loan System for reporting and analysis.
Contact Relationships at its Best
Track a lot more than just borrowers. Create contact types that allow you to build rich data on co-borrowers, investors, multiple-investors, servicers, lenders and pretty much any other type of contact you can think of. All of them can be tied to one or multiple loans allowing you to keep all data in one place: Nortridge Software. An additional CRM isn’t even needed.
Credit Score Profiles
Comments
Keep track of all communication with borrowers and other contacts in one place.
Store Custom Data
Address Verification
Communication is key in loan servicing, and our platform makes it easy to keep track of all communication with borrowers and other contacts in one place.
So Much Data it would Make An Analyst Blush
Graphical Dashboards
Leverage Big Data
Industries That Are Utilizing the Nortridge System
Auto Financing Software
Improve efficiency and minimize delinquency rates. Our loan management software allows you to easily create new loan products and expand into new markets. This takes a few minutes and is done right inside the UI. No need for custom programming – which takes weeks!
Consumer Installment Loan Software
Commercial Lending Software
Experience innovative features that have been built for lending professionals in the commercial lending space. The software is easy to use and ensures that you can manage commercial loans with great ease.
Student Lending
Simplify the complexity of student lending with Nortridge. Streamline the entire loan life cycle and automate payment processing. Increase efficiency and manage student loans more effectively.
Hard Money Lending
Medical Loans Servicing
The Nortridge Loan Software Advantage
Reporting and Analytics
Compliance and Regulatory Support
The Nortridge Loan Software includes features that help you stay in compliance with all relevant regulations, including the Truth in Lending Act, the Fair Credit Reporting Act, and state-specific regulations.
Integration and Customization
Customer Support and Training
At Nortridge, we pride ourselves on providing exceptional customer support and training. Our team of experts is available to answer your questions and help you get the most out of our software. We also offer comprehensive training to ensure that your team is fully equipped to use our software and take advantage of all its features and capabilities.
The only way to truly understand the depth of power and configuration of Nortridge Software when it comes to loan servicing is a demonstration of it.
Frequently Asked Questions
The Nortridge loan servicing software is used within the process of loan repayment, including tasks such as calculating interest, sending out billing statements, and handling default and delinquency.
Our loan servicing software can help lenders streamline the loan repayment process, reduce the risk of errors, and improve efficiency and productivity.
Yes, our loan servicing software system offers integration with other financial software systems, such as accounting software and CRM systems. We offer access to the API to allow you to integrate with any third-party tool with API access.
Loan servicing software uses complex algorithms to calculate the interest due on a loan based on the terms of the loan agreement, including the interest rate, the length of the loan and interest year.
Yes, our loan servicing software system is web-based and can be accessed from any device with an internet connection.
Nortridges’ loan servicing software includes features such as payment processing, escrow and reserve management, default management, and reporting and analytics. Nortridge is not a one-featured pony – our software is robust and entirely customizable with the ability to be built into anything you may need.
Yes, our loan servicing software is designed to handle a variety of loan types, including consumer loans, commercial loans, auto loans, personal loans, and business loans.
Yes, our loan servicing software is designed to handle multiple currencies, making it suitable for use by global financial institutions.
Yes, our loan servicing software is designed with security measures in place to protect sensitive financial data.
Yes, our loan servicing software is designed to be easy to use and navigate, even for users who are not tech-savvy. Nortridge can be complex however which is dependent on your unique servicing needs. No two-Nortridge loan servicing software will ever be the same.
