Best Loan Servicing software 2023


Lenders utilize loan servicing software to centralize data, tasks, and financial services throughout the loan lifecycle. These skills frequently involve client management, credit scoring, servicing, debt collection, loan origination, and refinancing.

Loan software allows financial organizations to see more client data and handle loans more quickly. Your loan officers can leverage automated processes, calculations, and decision-making using a cloud-based system to gather documentation. Access pricing choices, manage compliance, and interact with borrowers at every stage.

You can either use a one-stop shop for your digital loan servicing needs or develop a tech stack of loan software with varying strengths depending on your target audience and business use case.

You should seek platforms that can interface with your core systems, relationship management tools, process management tools, and other third-party financial products. That can improve the client experience because integrations are a crucial component of the loan software ecosystem.

Best Loan servicing software in 2023

The Loan servicing software on this list is the one that loan officers and borrowers have the greatest success with.

1:SimpleNexus Mortgage Platform by nCino

It is well known that SimpleNexus handles mortgage transactions at every stage. They provide digital tools that loan officers can utilize to interact with referral partners, improve the customer experience at the point of sale, and speed up the closing process.

Without disrupting current procedures, you may add new functionalities to your digital experience using one of the more than 80 third-party interfaces available. For instance, the simplicity with which processing and underwriting processes may be synchronized with loan origination software is one reason why financial organizations like adopting SimpleNexus (LOS).


Customers of SimpleNexus and their end users appreciate the convenience of only needing one login to access a wide range of well-liked features like:

  • Application for loans
  • Home loan calculators
  • Adaptable branding
  • files uploaded
  • Reminders and alarms
  • Monitoring dashboard for loans
  • e-Signatures
  • Integrated third-parties
1:SimpleNexus Mortgage Platform by nCino

2:Sageworks Lending

Sageworks Lending is a lending platform that is best suited for developing financial institutions that seek to scale their loan portfolio through automation. By consolidating services for several loan types into a single web app, you may utilize the platform to speed up loan processing and avoid juggling disparate systems for personal and business loans. Customers claim that this solution’s quicker deployment cycle, which enables teams to use it right away, distinguishes it from other feature-rich LOS.

The platform helps users avoid filling in information that their institution has already saved in the system, which speeds up loan applications and is most valuable to smaller banks and credit unions like the 121 Financial Credit Union.


Integration capabilities are a significant motivation for clients, similar to many LOS. With the help of Sageworks Lending, members may quickly and easily finish their loan application by clicking a button to confirm any existing information. A RESTful API can be used to supplement their built-in functionality, which includes:

  • Application for loans
  • templates and workflows already created
  • Document library on the client portal
  • Reminders and alarms
  • Automated lending judgments
2:Sageworks Lending-Loan servicing software

3:Salesforce Finance Services Cloud

Due to its capabilities for gathering and storing customer and prospect data from various interactions and touchpoints, financial services organizations frequently employ Salesforce Finance Services Cloud. With the help of the platform’s features, you can fully automate the lending lifecycle and keep track of important data at each stage.

You may utilize the platform, like all Salesforce products, to create in-depth reports that enable you to examine various relationships’ facets and quickly identify areas in need of development. Additional features like scoring, routing and predictions offered by AI are available to you.


The platform, which prioritizes process openness, assists users in improving the borrower experience, whether they are small institutions or major enterprise corporations. These other crucial elements can assist you in digitizing your business operations:

  • model data for mortgages
  • monitoring and approval of documents
  • Borrowers’ options for self-service
  • Achievement tracking
  • loan application guidance
  • Alerts and notifications with triggers
  • Automation with no code or little code

4: Floify

According to loan officers, Floify stands out for its borrowers’ modern and user-friendly system. The platform prioritizes clear and accessible design, providing multilingual alternatives for its online apps, and following ADA-compliant design standards.

With its rigorous optimizations for mobile web browsers and iOS and Android apps, Floify places a high priority on good design. Their mobile-friendly digital loan application process enables applicants to follow through with the application questions without missing any crucial details.

The platform’s document-collecting routines and interview-style loan application questions are its most well-liked features. To upload papers, approve documents, and communicate with borrowers on why specific documents were denied, loan offices can quickly enter and exit Floify.


Locally owned mortgage brokers like Riverbank Finance and My Mortage are among the businesses that use Floify. By using the platform, these companies can give potential customers a neat and expert web app experience while saving their employees time on document collection and handling mortgage disclosures. The following are some of the characteristics that financial institutions find most successful:

  • Application for loans
  • customer portal
  • management of documents
  • E-signatures
  • Adaptable branding
  • app experience on mobile
  • Notifications and alerts
  • integrating APIs
  • Desk solution for disclosing
4: Floify-Loan servicing software

5: Sofi

Sofi is a financial technology business that develops member-driven loan products, in contrast to other loan software on this list. It’s an all-in-one financial platform with services like banking and investing that helps its users manage their financial destiny.

All of these financial services, including its vast array of loan products, we can access through a single app. This software does all loan management online. Members can use the app to apply for new loans that will help them achieve their objectives, become pre-qualified for loans, and submit applications.


Borrowers prefer Sofi because their products provide reasonable rates, low down payment alternatives, member benefits, and access to multi-channel customer service. Borrowers range from students to first-time homebuyers. Other characteristics that make Sofi distinctive on the market include:

  • 24/7 account surveillance
  • financial preparation
  • Member rate reductions
  • Program for Employment Protection
  • Bonus points
5: Sofi-- Loan servicing software


Bryt is a loan management tool created to provide lenders with unorthodox freedom and openness. For example, this system didn’t require consumers to sign contracts. Each subscription plan’s upfront cost and implementation times are displayed.   

Due to its simplicity of use, pleasant onboarding procedure, and accessibility to support teams for platform customizations, customers from small and developing organizations find Bryt to be an appropriate platform. Bryt’s system can be set up and operational by you in as little as 30 minutes.


The software was created using a modular design approach. As a result, lenders can construct a solution by choosing the elements that will benefit their company the best. There are different courses available with each membership plan, but you can access more modules for an extra $30 each month. The following are some of the main functions of Bryt:

  • personalized document templates
  • customized client portal
  • Payment collection built-in
  • management of documents
  • tracking of assets and insurance
  • Integrations of compliance management APIs
6:Bryt-Loan servicing software

7:TurnKey Lender

An AI-powered end-to-end Loan servicing software named TurnKey Lender. It works best for businesses that wish to automate and hasten decision-making processes related to credit scoring, risk assessments, loan collection tactics, and other aspects of the lending process. You can create solid workflows for loan origination, loan servicing, and debt collection solutions using these sophisticated tools.  

Established businesses all throughout the world, including H&R Block and AirAsia, use the platform to promote their financial products and services. These clients utilize Turnkey Lender’s AI engine to gather, process, and track applications automatically as part of large-scale digital transformation initiatives.


Financial organizations like how adaptable a solution it is for customizing the loan application and offer processes. Like Bryt, you can add cutting-edge customer management tools to native solutions by utilizing several modules and 75+ pre-built integrations. Customers say the following is most valuable about them:

  • Client portal with AI-powered decision-making Bulk data import and export
  • management of documents
  • procedures for loan applications
  • Notifications and alerts
  • integrating APIs
7:TurnKey Lender


Mortgage brokers regard LoanSifter as a trustworthy way for hundreds of investors to search and compare mortgage rates. Small to mid-market enterprises frequently utilize this platform to swiftly provide customers with the best pricing options in an effort to gain their business.

Customers can generate new pricing quotes for clients in various scenarios by using LoanSifter’s robust search features. Without the technology, a typical workflow would involve mortgage brokers manually determining the best pricing using rate sheets. When customers are on the phone and demand immediate access to price options, this lengthy process becomes even more ineffective.


Mortgage brokers also find LoanSifter useful because the search results include significant information like a lender’s product matrix and criteria. This is in addition to the flexibility to change searches and instantly fetch up prices. The platform’s main attributes are as follows:

  • Obtain rates from more than 100 investors
  • Comparisons of prices side by side
  • adjustable searches
  • Data management for clients
  • Integrations with LOS Integrations with custom API
8:LoanSifter-Loan servicing software


A cloud-based platform called Finflux provides services to more than four million borrowers. It was designed with the user experience in mind, offering lenders the freedom to customize lending products for their intended clientele.

Financial institutions can develop reporting dashboards, set up a co-lending model, and provide various payback choices by plugging and playing various connections into the platform’s solution architecture.


With its mobile application, the platform distinguishes itself from competitors by providing borrowers with a thorough dashboard to view and manage their loans. Customers can use the app to upload documents, examine all loan pipelines in detail, issue payment reminders, and more. The most used functions of the platform are:

  • Flexible lending options
  • Integrations of reporting dashboard APIs
  • Automated processes and occasions
  • Reminders and alarms
  • Dashboard for borrowers with loan details

Whatfix’s Improvements to Digital Loan Products

Loan servicing software has many features. They can provide borrowers and loan officers who are not familiar with them with a wealth of information that is simple to overlook without the proper direction.

With the help of in-app information, self-service support channels, and pop-ups, Whatfix enables you to create interesting processes for customer and staff onboarding and adoption. You may utilize behavioral analytics to inform your audience at the most crucial stages in their user journey and prompt them with the appropriate next steps.

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10 thoughts on “<strong>Best Loan Servicing software 2023</strong>”

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