Loan management software simplifies the loan lifecycle for lenders by automating tasks such as onboarding, repayments, and compliance. Key modules include loan servicing, workflow automation, custom reporting, escrow management, document management, relationship management, asset tracking, ACH processing, and a borrower portal, each designed to enhance efficiency and service delivery. This solution allows lenders to manage loans effectively while ensuring accuracy and regulatory adherence.

1. Exploring Key Modules in
Loan Management
Software
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2. For lenders, juggling many tasks across the loan lifecycle is often complicated.
Everything must be accurate and up-to-date, from onboarding new borrowers to
managing repayments and ensuring regulatory compliance. However, with Loan
Management Software, you can automate and streamline these tasks to ensure
efficiency. With the suitable modules, lenders can deliver exceptional service and
always ensure compliance. Let’s understand the key modules that an LMS should
have.

3. Loan Servicing Module
01
This module automates the management of
ongoing loans after they are originated and
disbursed. It includes automated payment
processing, account management, escrow
management, interest calculation, and
amortization scheduling.

4. Workflow Automation Module
02
This module streamlines your loan workflow,
reducing time spent on manual tasks and data
entry. It streamlines loan processing, document
collection, sending overdue payment reminders,
and more. This allows you to process higher
volumes of loans while maintaining error-free
transactions.

5. Custom Reporting Module
03
The custom reporting module enables you to
generate customized reports and analytics
tailored to your organization’s needs. It
provides flexible reporting templates to create
personalized borrower reports in minutes. It
also allows you to track loan performance and
delinquency rates, analyze risk factors, and
gain valuable insights into your loan portfolio.

6. Impound/Escrow Module
04
This module manages escrow accounts for
loans involving property taxes, insurance
premiums, and other escrow-related expenses
associated with mortgage loans. It collects
funds from borrowers, holds them securely, and
then distributes them to the appropriate entities
when due. It automates the calculation of
escrow payments, tracks escrow balances, and
ensures compliance with regulatory
requirements.

7. Document Management
Module
05
With this module, you will no longer have to
manage hundreds of spreadsheets and Word
documents. This module provides a secure,
centralized repository for all loan-related
documents. With pre-built document
templates, you can automate generating
personalized documents for all your
borrowers.

8. Contact Relationship
Management Module
06
With this module, you can build long-term client
relationships by consolidating all interactions
with borrowers. You can automate
communication with borrowers, manage
customer interactions, track communications,
and provide personalized service to enhance
customer satisfaction and retention.

9. Asset and Insurance
Tracking Module
07
This module helps track collateral for loans
secured by assets (like vehicles) and reduce
credit risks. It documents and stores every
asset to keep track of under-collateralized
loans and expiring policies.

10. ACH Module
08
This module facilitates electronic fund transfers
between borrower accounts and your
institution. It enables secure and efficient loan
payment processing, reducing reliance on
manual checks and paper trails.

11. Borrower Portal Module
09
A must-have module, the borrower portal
provides borrowers with secure online
portals to access their loan accounts, view
statements, make payments, and
communicate with lenders. It enhances
borrower convenience, self-service
capabilities, and satisfaction by providing
24/7 access to account information and
support.

12. An Automated Loan
Management Solution That
Monitors your Loans For You.
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