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5 Reasons Your Loan Servicing Software is Letting You Down

When you are a lender, your loan servicing software is one of the most important tools you have in your arsenal. After all, it’s the very tool you rely on to manage your loans and customers. It’s responsible for keeping track of all the important information related to your loans, from balances and payments to interest rates and late fees. So when your loan servicing software starts letting you down, it can be a real headache — not to mention, cause frustration for your borrowers.

In this blog post, we’ll outline five ways your loan software is letting you down. We’ll also provide tips on how to overcome these issues with Nortridge’s lending platform solution. So, if you’re looking for ways to make your loan software work better for you, read on!

First, What is Loan Servicing Software?

Loan servicing software is a type of financial software that helps lending institutions keep track of their loans. It can be used to track both customers’ loans and the payments made on those loans. Loan servicing software often includes features such as payment reminders, late payment penalties, and automatic payments. It can also help businesses manage their loan portfolios and report on their loan performance. Lending software can be a valuable loan servicing tool software for businesses of all sizes. It can help businesses save time and money by automating the loan management process.

5 Ways Your Lending Platform Might Be Letting You Down

Loan software is a key part of any lending institution. However, many lenders are finding that their current software is not meeting all their needs. Here are the 5 areas in which your loan software may fall short, with added info on how Nortridge fixes each problem.

1. Your loan servicing software is not user-friendly

If your loan software has you down, it might be due to how difficult it is to navigate. After all, no one likes having to use badly-designed software, especially when it’s something as important as managing your loans. For lenders, it can mean lost productivity and wasted time trying to navigate the system. When you’re trying to manage your loans and keep track of payments, the last thing you want is a complicated interface that makes it difficult to get the job done. You want loan servicing software that will make your job easier, not harder, and will help you stay organized and on top of your loan portfolio. If yours is a pain to use, it’s time to find a new one that better meets your needs — like our user-friendly Nortridge platform!

Here are a few things that make Nortridge especially easy to use:

  • We designed our software with the user in mind – it’s easy to navigate and simple to use
  • Our customer support team is available to help you with any questions you may have
  • We offer many resources including a training video library, user guide, knowledge base
  • With only the best loan servicing software features, Nortridge takes the gold

Schedule a free-demo to look over our loan system, where you can ask any questions and get real-time answers.


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2. Your loan servicing software is not customizable

Loan software should be designed to make the process of managing a loan portfolio easier and more efficient and a big part of that is being able to tailor the software to your specific needs. When your software is not customizable, it can be a major disappointment, especially if you had your heart set on a particular feature or workflow when you first went with it. Without customization options, users may find that the software is not as user-friendly, helpful or effective as they had hoped it would be. In some cases, they may even find that the software is more difficult to use than if they were managing their loans manually! If your loan servicing software isn’t customizable, be sure and take a look at Nortridge.

Nortridge takes the prize with its customization capabilities

  • Our Software offers limitless flexibility, bringing a sophisticated level of customization to any lending institution.
  • Create beautifully tailored loan products including installment, marketplace unsecured, secured loans, lines of credit, mortgage, auto, and many more.
  • Our loan software is designed to be highly customizable, so you can get the exact results you need
  • You can choose the specific data fields that are displayed on your screen, as well as the order in which they appear
  • The software offers a wide range of filters and sorting options, so you can find the information you need quickly and easily

3. Your loan servicing software is outdated

With it acting as the central repository for all of your customer data, and the backbone of your operations, when your loan software becomes outdated, it can be a major letdown. Outdated software can lead to lost data, missed opportunities, and increased costs. It can also cause frustration among your customers and employees. The best loan servicing software is designed to make life easier for loan officers by keeping track of borrower payments and managing the loan portfolio. Not only will having updated software help you keep up with the latest changes in the industry, but it will also help you avoid potential compliance issues. By staying current with the latest software, you can ensure that you always have access to new features and functionality that can help improve your bottom line. If your current loan servicing software doesn’t have the ability to be upgraded, no wonder you are feeling let down. Our system is always kept up-to-date with the latest technology, so you can be confident that your loans will run smoothly.

Here is how Nortridge stays ahead of the technology curve:

  • We regularly update our software to ensure that it is compliant with the latest banking regulations
  • Our team of developers is constantly working on new features and improvements for our users
  • We listen to feedback from our customers and use it to make changes to our software

4. It’s not compatible with the other programs you use

All lending institutions need to have loan servicing software that is compatible with all of the lender’s systems. When your loan software isn’t compatible with other programs that you use, it’s just another major letdown. Not being able to integrate your systems can lead to inefficiencies and reduced productivity. It can also create frustration for employees who have to work with multiple programs that don’t talk to each other. If this sounds like the platform you’re currently using, maybe it’s time to make a change. In fact, why wait any longer? Nortridge is a loan servicing tool that helps connect different software programs, making it easier to transfer data and information between them. Schedule a demo and consider upgrading to Nortridge loan servicing software today.

Nortridge has a Powerful Application Programming Interface (API)

  • This API is used to interface with the application electronically
  • Our loan software is designed to be fully compatible with other programs
  • We use a variety of methods to ensure compatibility
  • Our software is constantly updated to ensure compatibility with the latest programs

5. You can’t get any help from customer support

When you’re trying to run a business, the last thing you want is to run into technical difficulties. However, when you can’t get a hold of your loan servicing software customer support it can be a big problem in the workday. Even worse, it can cost you money. If you’re not able to get the help you need, it’s important to take action. The first step is to contact the software company and explain the situation. Next, reach out to your network of colleagues and see if they’ve had any luck getting in touch with customer support. Finally, consider switching to Nortridge.

Nortridge offers multiple levels of customer support:

We value our customers and are committed to providing excellent customer service. Our team of experts are available to help you get started and answer any questions you may have along the way.

Count on Nortridge Loan Software – It Will Not Let You Down

The Nortridge loan system is the best loan servicing tool for any lenders’ needs. We have been in the business for over 15 years and offer all the best loan servicing software features — our loan software is simply top-of-the-line.

  • It’s reliable, efficient, and easy to use, so you can focus on what you do best – helping people get the money they need.
  • Starting at just $1,000 a month, our pricing is extremely affordable.

If you’re looking for a top-quality lending solution, don’t hesitate to contact us today. We would be more than happy to answer any of your questions or set up a demo so you can see Nortridge in action. Thanks for reading!

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