Consumer Lending

Customize your collateral type, apply payments with a custom waterfall application, create you own loan statuses and more.

THE INDUSTRY STANDARD, TRUSTED BY CUSTOMERS INCLUDING:


Workforce Mobility

LoanPro works with many private consumer lenders, and the COVID-19 pandemic was eye-opening for them, as it was for most businesses. Marlette Funding, one of our most prominent lenders, faced the prospect of moving their workforce remote, or shutting down their servicing operations.

Alex Rhodes, Head of Operations said, “The LoanPro platform enable a seamless transition for our team to WFH (work from home), helping us keep our employees safe while servicing our customers during an uncertain time. The LoanPro team was very resourceful and responsive to help us implement our COVID-19 customer-assistance programs. They continue to be a great partner.”

Data Access

Data is one of the keys to deciding how to deploy your money. Consumer lenders use data to decrease the number of bad loans they give, so they can remain profitable. This data is gathered through applications, servicing, transactions, collections, and more. Most consumer lenders use a third-party or homegrown solution for customer acquisition and underwriting.

LoanPro is the system of record for consumer lenders. The information in LoanPro is the truth about your loans. It’s important that you have access to this data. Not just access through premade reports, but fast, accurate, real-time access to the source data. LoanPro provides access to data via an API, for ease of integration. LoanPro also gives you the option to access data directly from the database, because sometimes milliseconds count.

The Complete Loan Lifecycle

You need lending software that works within your operations and a software company that understands what you do. LoanPro lets you create and configure wizards to fit your servicing processes. These wizards are a step-by-step guide through each lending process to make sure it gets done correctly. If configuration seems like a lot of work, don’t worry. Our onboarding team understands lending, and they are more than happy to discover how your operations work and configure these processes for you.

Where possible, you can also employ rule-based logic so that changes to loan statuses, flags, or notifications will be done by LoanPro, to avoid human error. Consumer lenders usually work with a high volume of short term loans. Consistency and avoiding errors means a smaller, more efficient workforce and an increase in loan profitability.

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