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9 Best Mortgage POS Systems in 2024
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Shape Software
In the intricate world of mortgage processing, efficiency and precision can set successful financial institutions apart. As 2024 unfolds, Mortgage Point-of-Sale (POS) systems are becoming indispensable allies in managing loan applications. Such platforms are now increasingly sophisticated, offering solutions that simplify the task of gathering, organizing, and validating essential borrower documentation. In this article, we'll delve into the top 9 Mortgage POS systems that stand out in their capabilities—from their seamless integrations with CRMs, LOS, and credit bureaus to their adeptness at sending automated notifications at pivotal loan stages. Plus, in a world where branding is paramount, we’ll explore which systems allow companies the luxury of a tailored, white-labelled experience, making the platform feel like a seamless extension of the loan officer's or bank's unique brand identity.
SimpleNexus Mortgage Platform
A good mortgage POS system for optimizing and streamlining every process
On Quote
Custom pricing
- Built-in document scanner
- Mobile optimized
- Integrated calculators
Top Choice
Shape
The best mortgage POS system for unmatched efficiency and value
$47/user/mo
Fixed pricing plan
- purpose-built mortgage marketing suite
- Branded borrower portal
- Integrated cloud-based calling, texting, & email.
- Prioritized views
Floify
Efficient mortgage POS system with comprehensive document templates
$70+/mo
Fixed pricing tiers
- Comprehensive document template library
- Automated multi-channel notifications
- Interview-style loan application
Navigating the intricate world of mortgages demands tools that simplify, streamline, and optimize processes for both lenders and borrowers. As you consider adopting or upgrading your Mortgage Point-of-Sale (POS) system, it's crucial to understand the core features that can significantly enhance your operations and client experience. In this section, we dive deep into ten essential functionalities to seek out in a mortgage POS platform. These are more than just 'nice-to-have' features; they're pivotal components that can redefine how you manage and process loan applications. Let's delve in.
What is a Mortgage POS system?
A Mortgage Point of Sale (POS) system is a digital platform that enables mortgage loan applicants to initiate and complete the loan application process online, providing tools for document upload, application tracking, and direct communication with lenders.
10 essential mortgage point of sale software features:
- 1. Document management & storage​ - A top-tier mortgage POS should facilitate the effortless upload, storage, organization, and retrieval of vital documents from borrowers, ensuring a streamlined mortgage application process.​
- 2. Automated document recognition - Beyond just storage, advanced POS systems should possess the capability to automatically recognize and validate various loan-related documents, reducing manual entry and human errors.
- 3. Seamless system integration - A holistic mortgage workflow requires smooth integration with other vital systems. The POS should play well with CRMs, Loan Origination Systems (LOS), and other necessary platforms.
- 4. Credit bureau integration - For loan approval, credit checks are indispensable. The POS system should have seamless integrations with top credit bureaus, facilitating instant and accurate credit background checks.
- 5. Automated notifications - In the mortgage industry, timely communication can be the difference between approval and decline. A competent digital mortgage platform system will send automated alerts—be it via email, SMS, or in-app notifications—keeping all parties abreast of loan statuses, document requirements, and other essential milestones.
- 6. White labeling capabilities - To maintain brand consistency and trust, the platform should allow businesses to customize its look and feel, making it appear as if the POS was intricately crafted by the loan officer or bank themselves.
- 7. User-friendly interface - Mortgage processes can be complex, but that doesn't mean the software should be. Prioritize POS systems that offer intuitive, easy-to-navigate interfaces, ensuring that users—both internal and clients—can operate it without a steep learning curve.
- 8. Mobile accessibility - With the world moving mobile, having a mortgage POS system that's mobile-responsive or offers a mobile app ensures loan officers and borrowers can access crucial information on-the-go.
- 9. Security protocols - Mortgage details are sensitive. Ensure the POS system emphasizes security, employing advanced encryption and protective measures to guard against breaches and unauthorized access.
- 10. Comprehensive reporting - Data-driven decision-making is key. The ideal mortgage POS system should offer robust analytics and reporting features, allowing businesses to monitor application rates, approval percentages, and other vital metrics to refine their strategies.
Navigating the vast sea of Mortgage Point-of-Sale (POS) systems can feel overwhelming. But, understanding how these tools are practically applied in real-world scenarios can provide clarity. Before we delve into the specifics, let's uncover the diverse ways organizations are harnessing the power of these platforms.
5 key ways to utilize your mortgage POS systemÂ
- 1. Streamlined document management in action​ - Imagine a first-time home buyer, unfamiliar with the multitude of documents required for their mortgage application. They upload a mishmash of bank statements, employment verification letters, and more. Within moments, the mortgage POS system accurately categorizes and aligns these files to the applicant's unique profile. This rapid, error-free processing means faster approvals and a seamless borrower experience.
- 2. Seamless credit verification - For a loan officer assessing the creditworthiness of multiple applicants daily, efficiency is paramount. Rather than shuffling between numerous platforms, the mortgage POS lets them retrieve credit reports from the leading bureaus directly. This centralized approach expedites loan evaluations while maintaining accuracy.
- 3. Staying updated - Notifications and Loan Milestones: Put yourself in the shoes of an anxious borrower, keen on staying updated about their loan status. With the mortgage POS system, they're not left in the dark. Automated updates – be it via email, SMS, or in-app alerts – keep them abreast of each milestone, fostering a sense of transparency and increasing borrower satisfaction.
- 4. Consistent branding with white-labeled platforms - A reputed mortgage institution prides itself on its distinct brand identity. Leveraging the white-labeling capabilities of their mortgage POS system, the interface embodies their brand colors, logos, and nuances. For borrowers, this bespoke lending experience not only elevates their interaction but instills confidence in the institution's professionalism.
- 5. Harmonizing systems - Loan origination software (LOS) and CRM Integration: Consider a growing mortgage firm with an expanding client base and multiple loan applications in the pipeline. The smooth synchronization between their Mortgage POS system and existing CRM ensures instant access to borrower histories, loan status, and other vital data. This interconnectedness guarantees efficient, personalized service for each applicant.
Now that, we've shown you the invaluable features that set apart top-tier Mortgage POS systems and immersed you in real-world scenarios to bring those features to life. You have learned how these platforms not only simplify document management but also keep all stakeholders in the loop with real-time notifications. Additionally, the benefits of brand consistency and seamless integrations have been highlighted. With this foundational knowledge of essential functions in place, we're about to dive into the specifics of the best mortgage POS systems available in 2024. Stay with us, as the insights ahead are tailored to guide your selection process! Now let’s dive in to our top POS platforms.
Quick comparison of top mortgage point of sale systems
| Software | Intro price | Differentiator |
|---|---|---|
|
Shape |
$47 |
Premier all-in-one mortgage POS system offering the greatest value |
|
Simple Nexus |
On quote |
An all-encompassing Mortgage POS system designed to optimize and streamline processes |
|
Floify |
$70 |
Extensive range of document templates elevates operational efficiency while ensuring stringent compliance |
|
Blend Mortgage Suite |
On quote |
AI-driven automation to deliver a seamlessly exceptional customer experience |
|
BeSmartee |
On quote |
A highly customizable Mortgage POS system enriched with diverse workflow templates to cater to a multitude of business requirements |
|
Loanzify |
On quote |
A visually striking mortgage POS system for a superlative customer experience |
|
BNTouch Mortgage CRM |
$95 |
Intuitive POS system with robust marketing funtionality |
|
nCino's Mortgage Suite |
On quote |
Cloud based Mortgage POS system offering efficient contact management |
|
Roostify |
On quote |
Feature rich platform designed for large businesses |
The top 9 best mortgage point Of sale (POS) systems In 2024 are:
1. Shape
| Founded: 1999 HQ: Irvine, California, United States | |
|---|---|
|
Key info |
Free plan: No
Support: 24/7 (In-product support + email) |
|
Best for |
The most comprehensive Mortgage POS system suitable for businesses of all sizes |
|
Pros |
+ Shape mortgage software helps lenders improve efficiency, reduce costs, and enhance the borrower experience by providing a more streamlined and automated mortgage process.
+ Can call, text, and email from within the system
+ Shape facilitates efficient management of business contacts and clients on a daily basis |
|
Cons |
- Has lots of configuring options which can make it hard to setup
- Has a learning curve |
|
Integrations |
Zapier, LendingPad and many more |
|
Pricing Model |
Sales & Marketing CRM: $119/user/mo
Point of Sale: $47/user/mo
Lead Funnels: $299/mo |
Shape CRM is a top-rated CRM with everything your mortgage company needs to generate more leads and close more loans. From LOS integrations to built-in mortgage point-of-sale solutions, pre-built mortgage marketing templates, and more, Shape offers an all-in-one lending solution that helps you improve communication with clients and streamline your mortgage business operations.
Shape’s mortgage marketing suite is a real game changer. With pre-built email, video, text, and campaign templates, you can enhance customer engagement throughout the entire mortgage process, from application to post-close.Â
You can even collaborate with realtors and referral partners and send co-branded newsletters, landing pages, and flyers to increase the ROI from your closed loans. This suite gives you all the essentials to stay ahead of your competitors. But it doesn’t end there.Â
Shape takes this efficiency even further with a white-labeled and mobile-optimized customer portal that automates follow-ups, documents, and missing information. Depending on where your clients are in your pipeline, you can set up automated texts and email reminders from the portal and concentrate on more critical tasks. And, since the portal is fully white-labelled, you can customize it with your logo and branding to appear more professional and reinforce your clients’ trust in your brand.
The client portal also helps you collect customer information and close deals faster through a responsive lead funnel that uses a survey-style, question-and-answer format to collect customer information and documents safely. This survey-style format is engaging and less overwhelming, which makes clients provide their details faster so you can quickly move them through the sales pipeline.Â
After collecting these documents, the portal’s eSignature solutions digitize contract signing, removing the need to invest in an expensive third-party service. The best part is Shape automatically stores all these documents in a secure cloud-based storage, so you won't have to surf through emails for attachments whenever you need them.Â
Overall, Shape confidently boasts of this client portal and claims that letting the portal handle all your mortgage applications, intake, and other tedious manual entries can save you over 20 hours a week.
Despite these robust features, Shape adds another dimension of versatility by integrating with Loan Origination Systems (LOS) like Encompass and LendingPad.
With these integrations, you can seamlessly sync and share data between Shape and your LOS, which reduces manual data entry and other challenges that come with it, such as errors in data, missing requirements, and duplicates. Shape also integrates with other essential systems like CRMs and credit bureaus for credit checks through Zapier.
To round up, Shape Mortgage POS system is easy to use and can help lenders improve efficiency, reduce costs, and improve the borrower experience, all through a more streamlined and automated mortgage process. However, being an all-in-one mortgage POS system, it could be a little overwhelming initially. But with a 4.9/5 review on G2 and user reviews praising the customer service for being highly responsive, this challenge is quickly alleviated.Â
Starting at $47 a month with over 500 features purposely built for the mortgage sector, Shape is the preferred choice for many top mortgage brokers, loan officers, and lenders. It’s no wonder why many reviews confidently refer to it as a "Better alternative to Salesforce and Hubspot!"
2. SimpleNexus Mortgage Platform
| Founded: 2011 HQ: North Carolina, USA | |
|---|---|
|
Key info |
Free plan: No
Support: phone, chat |
|
Best for |
Mortgage brokers who want to streamline their operations |
|
Pros |
+ Multi language support
+ Feature rich mobile App
+ Provides real-time updates to borrowers on loan status through website |
|
Cons |
- Automations are limited to a few basic conditional logic
- The software glitches from time to time |
|
Integrations |
Finastra, Mortgage Coach, Surefire and many more |
|
Pricing Model |
On quote |
SimpleNexus is a comprehensive mortgage POS system designed to streamline every aspect of the mortgage application and transaction process. In 2022, the platform was acquired by nCino and officially rebranded as nCino's Mortgage Suite.Â
SimpleNexus (now nCino) places a strong emphasis on borrowers’ experience, offering a user-friendly interface and a wide range of mortgage tools that simplify everything from initial contact to application, closing, and even business intelligence.
From the outset of our evaluation, we were immediately impressed by the platform's ability to adapt to the needs and expectations of modern consumers. Today, consumers are constantly connected to their mobile phones and expect immediate access to services. Having a seamless, on-the-go mortgage application experience that aligns with the modern consumer's lifestyle is essential. SimpleNexus (nCino) addresses this need with easily accessible mobile-first solutions that increase your loan officers' productivity and provide borrowers with a straightforward application process.
One of SimpleNexus’s key features is its Document Scanner, which simplifies the process of uploading, organizing, storing, and retrieving the necessary documents for a home loan. With this tool, borrowers can conveniently scan their documents using a mobile and securely transmit them to the mortgage system. Your team can then access, review, and manage these documents through your SimpleNexus web dashboard. The information in these documents is safe as the platform provides vital security measures, including secure scanning, data encryption, and cloud data security.
SimpleNexus (nCino) also integrates with external digital lending solutions, including Loan Origination Systems like Encompass and digital signature solutions like First American Docutech and DocuSign. These integrations ensure that borrowers can effortlessly move through the loan origination process and transition to document signing without leaving the SimpleNexus platform.Â
Enhancing the borrower experience goes beyond simply streamlining the document management process. It also involves maintaining consistent, relevant communication, which improves the customer experience and helps build your credibility and trust with customers. In fact, a study from J.D. Power indicates that 63 percent of customers would leave their mortgage service provider in search of better customer service.
Therefore, to ensure your company doesn't find itself on the chopping block, SimpleNexus enables proactive and efficient engagement with borrowers and partners right from the initial application stage.
You receive automatic notifications customized to your business workflow, including updates on every newly started mortgage loan application and loan status milestone, along with integrated instant chat. These notifications give borrowers real-time updates and a transparent view of their loan progress, reducing their anxiety and strengthening your relationship, leading to higher conversion rates. They can also easily access live rates through the platform's mortgage payment calculator.
As your customers engage with you, SimpleNexus's customizable white-label solutions allow you to brand throughout every stage of the interaction. By offering customized lending tools and resources that align with your branding, objectives, and values, you not only enhance your brand visibility but also strengthen customer loyalty.Â
However, we found the landing page customizations a bit limited. Customization pages requires special requests and there are limits on what can be altered. Being the initial point of interaction for your clients, this can be a drawback. It could restrict the expression of your brand's unique identity and offerings, affecting your user experience.
Despite the constraints around landing page customization, you can leverage the platform’s real-time performance data, key insights, and industry-specific business intelligence to guide your decision-making process, focusing on elements that resonate most with your audience. The insights can also help you better understand user behavior, strategically improving your landing page's user experience.Â
When it’s time to finalize the mortgage, the platform is flexible and supports different closing strategies, from traditional to hybrid and fully digital methods.Â
Although SimpleNexus offers multiple pricing plans, they are not publicly available on the website. To get detailed pricing information, you will have to schedule a demo with them.Â
Overall, its user-centric approach, comprehensive features, and mobile accessibility make it one of the best mortgage POS system. It has a remarkable 4.9/5 score on G2 from numerous financial professionals, and one of these professionals stated, 'SimpleNexus has made my work life so much easier. I love it, and my clients love it too. It's easy to use.
3. Floify
| Founded: 2013 HQ: Colorado, USA | |
|---|---|
|
Key info |
Free plan: No
Support: Phone, email |
|
Best for |
Mortgage Firms that want to standardize communications using document templates |
|
Pros |
+ Ensures all documents are submitted by sending detailed notifications to borrowers
+ Comprehensive document templates ensure that there is no need for any manual creations |
|
Cons |
- Some key integrations don't sync well, leading to data no updated as required.
- The platform provides limited options for customization |
|
Integrations |
Encompass®, BytePro, LendingQB, LendingPad, Surefire CRM, Mortgage Panda, Jungo, Factual Data and more. |
|
Pricing Model |
Business Plan: $70 per month
Team Plan: $200 per months
Enterprise Plan: Custom |
Floify is a leading mortgage POS system tailored to help loan originators and mortgage executives streamline loan processing. It's a secure platform for communication and document management among lenders, borrowers, and other key players in the mortgage process.
With Floify, you can effortlessly handle loan applications, verify borrower documents, track the progress of loans, and maintain communication with both borrowers and real estate agents. All these features are designed to help you close loans quickly.Â
Floify doesn't just ease the process for mortgage brokers; it simplifies things for borrowers as well. They can quickly fill out their loan application, upload any necessary documentation, eSign disclosures, and keep track of their loan status — all in one user-friendly location.
In particular, Floify's interview-style loan application feature stood out during our software evaluation. It guides borrowers through the application step by step, allowing them to move at their own pace. As borrowers complete each section, a summary screen pops up, allowing them to review their data for accuracy. This ensures a smooth, user-friendly experience throughout the loan application process.
After a borrower submits a loan application, Floify helps you assess their creditworthiness with integrated credit reporting. The journey from application to loan closure involves several documents, and Floify simplifies this process by capturing and managing all necessary paperwork in one centralized location. This removes the need for multiple requests from borrowers and ensures that documents are easily accessible when needed.Â
Floify also integrates with most major mortgage software platforms, such as Encompass by EllieMae, Dropbox, Docusign, Blumortgage, and others. Through this integration, borrowers can conveniently receive, review, and electronically sign disclosures within the same user-friendly web portal they used for their application and document submission.Â
As expected from a reputable mortgage POS solution, Floify offers automated and highly customizable communication solutions for all involved parties. These automated features include system-generated notifications that serve various purposes, such as informing borrowers about the documents they still need to provide (Needs List), notifying them when additional documents are added (Add Document Notice), or alerting them about impending deadlines (Deadline Notice).Â
These notifications can be fully customized using email and SMS/text templates to align with your team’s workflow and continuously create a seamless borrower experience.
As Floify assists with all these crucial aspects of the loan process, it's essential to ensure that your branding is effectively promoted and reflected throughout the borrower's journey. Consistent branding not only fosters trust but also makes a lasting impression on both your borrowers and other stakeholders.
With simple configurations, you can embed Floify within your website and mask its domain bar using the URL white labelling feature. With this, when borrowers visit your site and access Floify, they will see your URL in the address bar. Also, when they receive text messages and emails from Floify, it will display your site's URL. This personalized touch enhances your brand visibility and professional image.
Floify's pricing might seem relatively high; however, unlike many other mortgage POS software, they maintain transparency with their pricing, with no hidden charges. They offer three pricing plans: Business, Team, and Enterprise. The Business and Team plans are priced at $79 and $200 per month, respectively, when billed annually. For the Enterprise plan, they provide a custom quote specific to user needs.
The Business and Team plans cover essential features such as a secure borrower portal, customizable digital loan application, automated notifications, e-signature, and various integrations. However, advanced features like enterprise-grade LOS Integrations with Encompass, MeridianLink, and BytePro are exclusive to the Enterprise plan subscribers.
All these features are housed on Floify’s Excellent security and compliance. Floify prioritizes the security and safety of client information and documentation, ensuring that all data is handled securely and complies with industry regulations.Â
All these features are housed within Floify's robust security and compliance framework. Floify prioritizes the security and privacy of client data and documentation, ensuring all information is managed securely and in line with industry standards.
Online customer reviews applaud the comprehensive, all-in-one functionality and the high degree of customization that Floify offers. However, some loan officers have cited the pricing as a key factor deterring them from fully committing to it. Despite this, the platform has a 4.8/5 score on G2.Â
To sum up, Floify has firmly established itself as one of the best mortgage POS system by prioritizing smooth workflows between mortgage lenders, borrowers, and other involved parties. With its ability to integrate with various platforms, such as credit reporting agencies, income and asset verification providers, and other LOS systems, Floify remains an asset in the mortgage industry.
4. Blend Mortgage Suite
| Founded: 2012 HQ: San Fransisco, USA | |
|---|---|
|
Key info |
Free plan: No
Support: Chat, Support Tickets |
|
Best for |
Mortgage firms who want to offer a seamless borrower experience |
|
Pros |
+ Personalized onboarding for each borrower
+ It is highly customizable and can be customized to all business needs
+ It integrates very well with important 3rd party apps |
|
Cons |
- Due to extensive customization, providing trainings can be difficult |
|
Integrations |
Avantus, MeridianLink Mortgage, Salesforce, Jungo and other |
|
Pricing Model |
On quote |
Coined from the phrase "Better Lending", Blend is a cloud-based digital lending platform that assists retail banks, mortgage companies, and credit unions in managing leads and simplifying lending services.Â
Blend's vision of 'Better Lending' extends beyond just the name. The platform is committed to streamlining digital applications for borrowers and reducing the time required to process loans. This includes automating processing steps that could potentially cause delays or errors. For instance, with automated notifications and real-time communication, you can keep track of tasks, boost engagement, increase transaction success, and speed up deal closures.
Blend also provides mobile applications for both Android and iOS devices, enabling you to effortlessly generate new leads, sign digital documents, and get automated loan status updates wherever you are.
During the loan application process, Blend allows borrowers to directly upload required documents to a dedicated section within their portal. As a lender, you can access and manage these documents through the platform's integrated storage portal. If necessary, you can upload additional documents on behalf of the borrower or archive any existing documents that are no longer relevant or were submitted in error. Blend also gives you and your team the control to regulate document access and determine which documents can be viewed by borrowers and other third parties involved in the application process.
Blend’s DocAI solution further simplifies these functionalities. The AI technology can automate application processes, provide instant responses to customer queries, and request necessary documentation even after applications have been submitted. Plus, with the platform’s pre-built reports, you can easily visualize your key metrics and make informed decisions. The AI solution to facilitates creating an efficient loan process.
The best part is with Blend’s white labeling ability, you can offer your clients these excellent experiences, all under your brand name. As they experience a series of positive interactions, each branded with your financial institution's visual identity, it strengthens their loyalty to your brand.
Even with its comprehensive features, we found the initial setup with Blend quite straightforward due to the intuitive onboarding process. Blend does a great job onboarding new users by offering a dynamic question engine that personalizes the experience for each borrower, simplifying what information they need to provide.
The platform also offers educational onboarding webinars for training new sales and support staff or refreshing loan teams on the best practices. However, we did experience relatively slow response times, which could potentially detract from their overall user experience.Â
In summary, with its automated workflows, robust integrations, intuitive onboarding process, and all-inclusive features, it’s no wonder Blend claims customers who start an application in the platform have an 89% submission rate. However, their pricing remains undisclosed; you would need to request a demo to determine if this mortgage POS software fits within your budget.
5. BeSmartee
| Founded: 2006 HQ: California, USA | |
|---|---|
|
Key info |
Free plan: No
Support: phone |
|
Best for |
Large enterprises who want a mortgage POS system that can be tailored to their needs |
|
Pros |
+ Supports different workflows
+ The portal is completely customizable |
|
Cons |
- Does not have a mobile App |
|
Integrations |
surefire, meridianlink, equifax, docmagix and over 165 others |
|
Pricing Model |
On quote |
BeSmartee is an advanced mortgage POS system designed to move borrowers from application submission to appraisal in just a few minutes. To achieve this, it uses big data and its pre-population feature that automatically fills in parts of the application to save borrowers a lot of time and effort.Â
BeSmartee efficiently manages vital aspects of the mortgage procedure, such as loan application, credit monitoring, and hectic income and employment verifications. It also partners with Arivs, a certified appraisal management company, to perform mortgage appraisals.
This collaboration enables your mortgage business to provide borrowers with accurate, unbiased property appraisal estimates, building more trust in your services and the entire mortgage process. It removes the uncertainty commonly associated with mortgage lending and ensures borrowers feel confident as they proceed with their loan applications.
Navigating BeSmartee is seamless for borrowers, thanks to its user-friendly loan dashboard. From document uploads to data entry, every tool necessary for managing the loan application process is provided on the dashboard.Â
On the mortgage provider’s end, the Loan Pipeline Visibility feature provides a complete view of each loan’s lifecycle, from start to finish. This ensures that you don't miss any detail and that borrowers receive the attention and service they require at every stage of the mortgage lending process.
The platform further prioritizes open communication with its automated notifications. These notifications, whether through email or text messages, ensure that you and the borrowers are updated with the loan progress. BeSmartee's integration with Twilio takes this functionality a step further, enhancing the delivery of automated notifications. With Twilio, you can send borrowers one-way transactional SMS messages for essential, time-sensitive communications.
Another feature that set BeSmartee apart during our test is its diverse workflow options. Unlike other POS systems that offer a one-size-fits-all approach, BeSmartee provides various workflows tailored to unique lender preferences. To crown it all, these workflows can be white-labeled to match your brand, incorporating aspects like URL, logos, and font styles.
However, BeSmartee is not without its limitations. Despite being mobile-friendly, it lacks a dedicated mobile app. This means you are confined to accessing the platform through web browsers, missing out on the seamless user experience and instant notifications a dedicated mobile app could provide.
Although BeSmartee's pricing depends on the organization's needs. To obtain pricing information, you would have to reach out to BeSmartee directly to request a quote.
As application standards continue to shift towards borrower protection, BeSmartee is a reliable choice for managing these changes. The platform’s commitment to data security is reflected in its SOC 2 Type II and PCI DSS certifications and adherence to various digital compliance policies, laws, and regulations. Beyond this, BeSmartee constantly evaluates its platform to detect potential security and compliance risks.Â
By integrating advanced technologies like big data and artificial intelligence, BeSmartee has established itself as one of the best mortgage POS system. User reviews corroborate this claim as many users praise its versatile workflows, advanced features and numerous integrations. Although some users point out the lack of a mobile app as a significant limitation, the platform’s 4.5/5 rating on G2 shows that BeSmartee remains a top choice for mortgage point-of-sale systems.
6. Loanzify
| Founded: 2007 HQ: California, USA | |
|---|---|
|
Key info |
Free plan: No
Support: phone, email |
|
Best for |
Mortgage professionals looking for an affordable mortgage POS system |
|
Pros |
+ Secure portal for documents
+ Mortgage calculators |
|
Cons |
- Finding information can be hard as one has to navigate several pages to find the info
- Setup can be difficult |
|
Integrations |
Lendingpad, Encompass, integra |
|
Pricing Model |
On quote |
Loanzify is a visually appealing mortgage POS software.The front end is simple, user-friendly, and well designed, making it an attractive choice for both borrowers and lenders. You can also personalize the system to reflect your brand's look and tone.Â
Loanzify is more than just a visually appealing interface. This mobile mortgage POS system also allows borrowers to calculate monthly mortgage payments and refinancing scenarios, submit documents, and sign closing documents from their mobile devices.
One of Loanzify’s notable features is its application process. Starting with an interview-style questionnaire that includes visual prompts and a progress bar, it guides borrowers through the application process and encourages them to complete it promptly.Â
Loanzify further simplifies the intake process with its "if-this, then-that" automation. With just a click, you can add questions, create drop-down menus, hide unnecessary fields, and edit text. For example, if a specific question is answered a certain way ("if this"), you can automatically make related questions appear or disappear ("then that").
After completing the intake process, borrowers can effortlessly upload all their documents. The system then intuitively guides them through their documentation Needs List to promptly review and organize all files.Â
Like any project, proper communication is essential for a successful mortgage process. Loanzify ensures all relevant parties are always on the same page through automated notifications and group messaging. These features ensure everyone stays informed and up-to-date about loan status, required documentation, and other milestones.Â
Loanzify sends various notifications, including SMS, push notifications, email notices, autoresponders, and in-app messaging. These automated notifications can be triggered by specific events, such as when a loan application is approved, or a borrower signs a document.
To ensure the customer experience stays seamless, Loanzify integrates with Zapier and with major third-party Loan Origination System LOS applications, including Encompass, Calyx Point, PC Lender, and LendingQB.
Despite its well-packed functionalities, Loanzify's pricing structure is affordable and flexible, offering both Basic and Deluxe options. The Basic plan costs $19.95 a month, while the Deluxe plan costs $29.95.Â
It also provides a free trial to explore the platform’s features before committing. Loanzify also has a customized option for Enterprise clients, with multi-branch support and a personalized app name and icon.
Like other POS systems on this list, Loanzify takes protecting personal and financial data seriously. The platform uses advanced firewall technology, data transmission encryption, and intrusion detection technology to protect account, user, and borrower information. Loanzify also has a rigorous commitment to compliance that aligns with your needs, providing a secure and trustworthy environment.Â
If you need personalized assistance while using the platform, Loanzify provides daily office hours Q&A sessions through Zoom. You can also reach out to any member of the sales team via phone or email.
With a rating of 4.7/5 on Capterra, users often commend Loanzify for its affordability, automated notifications, and clean presentation. However, despite the platform’s user-friendly and intuitive nature, new users should take advantage of the setup videos and tutorials to fully utilize the platform's features and avoid missing out on opportunities.
7. BNTouch Mortgage CRM
| Founded: 2004 HQ: Beaverton, Oregon, United States | |
|---|---|
|
Key info |
Free plan: No
Support: phone, online tickets |
|
Best for |
Mortgage professionals seeking a industry specific marketing and automation tools |
|
Pros |
+ Tailored for the mortgage industry with an intuitive interface
+ Mobile app allows working on the go
+ Effective integration with lead sources and communication tools like RingCentral
+ Strong marketing tools including video messaging and social media content |
|
Cons |
- Mobile app can be slow at times
- Some users find the campaign setup process complicated and not streamlined
- Formatting and interface has been called clunky by some users |
|
Integrations |
Multiple Loan Origination software and 3rd part apps via Zapier |
|
Pricing Model |
On quote |
BNTouch Mortgage CRM offers a robust and comprehensive platform that integrates various functions essential for mortgage companies and loan officers. It stands out as a fully integrated digital mortgage system, combining CRM, marketing, and POS tools. This integration provides a complete business growth platform, enhancing the efficiency of mortgage processes.
One of the key features of BNTouch is its email and SMS marketing automation, which facilitates effective communication and marketing strategies. The system also offers lead distribution and management capabilities, allowing for efficient handling and conversion of leads. Another highlight is the availability of over 35 proprietary mortgage tools, which are tailored to meet the specific needs of the industry.
The customizable digital 1003 application is a notable feature that streamlines the application process, making it more user-friendly and efficient. BNTouch also offers pre-built marketing content and customized video marketing, aiding in the creation of engaging and impactful marketing campaigns. Curated social media content is another aspect that helps in maintaining a consistent and professional online presence.
Moreover, BNTouch provides solutions for seamless integration with existing systems, such as LOS, Outlook, and Zapier. This feature ensures that users can easily incorporate BNTouch into their current workflows without significant disruptions.
Additional functionalities include the use of a Mortgage AI Assistant for interacting with CRM, borrowers, and partners, and a searchable database for quick access to borrower and partner information. The platform enables users to manage contacts effectively across different pipelines or databases, and to set up and receive instant alerts for various events such as new leads, birthdays, and tasks. Users can also track loan conversion statistics, start or view marketing campaigns, and even scan business cards for quick contact additions.
Despite its many positives, some users have indicated that BNTouch may lack robustness compared to other CRM systems, noting a need for additional features like auto document collection, a payment calculator for buyers, and the ability to generate on-demand pre-qualification letters. That being said, BNTouch Mortgage CRM provides a comprehensive set of features for the mortgage industry, ensuring efficiency and effectiveness in managing customer relationships and marketing strategies. Its integration of CRM, marketing, and POS tools into a single platform offers a unique solution for mortgage business growth.
8. nCino's Mortgage Suite
| Founded: 2011 HQ: Wilmington, North Carolina, United states | |
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Key info |
Free plan: No
Support: phone, online tickets |
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Best for |
Mortgage professionals seeking comprehensive cloud-based POS solutions |
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Pros |
+ Preapproval letters, credit, and pricing can be use on the go
+ Comprehensive analytics and reporting tools for data-driven decision making
+ Customizable and scalable to meet various organizational needs
+ Recognition for innovation and growth, including accolades from Forbes and Aite Group |
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Cons |
- Specific pricing details not publicly available
- Legal challenges in the past including antitrust investigations
- Some custom-built features may require updates for continued support |
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Integrations |
Various LOS, workflows, and third-party technologies |
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Pricing Model |
On quote |
nCino's Mortgage Suite, previously known as SimpleNexus, has emerged as a comprehensive mortgage POS system. The platfrom is meticulously designed to cater to the specific needs of diverse global markets, including the United States, United Kingdom, Ireland, Australia, and New Zealand. The platform focuses on enhancing the borrower experience by offering intuitive navigation and easy access to necessary tools and information.
One of the standout POS features is its robust analytics tools. This tool offers lenders a unified data strategy that includes intuitive dashboards, instant pipeline and performance data views, and in-depth loan-level analyses. These functionalities are designed to increase productivity and efficiency within financial institutions, offering a clear overview of the mortgage process from a POS perspective.
Furthermore, nCino excels in its adaptability to various closing scenarios, crucial for POS operations. It supports a range of closing processes, including traditional, hybrid, eNote, Remote Online Notarization (RON), and fully digital closings. This flexibility is essential for accommodating the diverse needs of borrowers and lenders in different lending environments.
The suite also enhances mortgage compensation workflows, a critical aspect of the POS process. It automates and streamlines compensation management, replacing manual and chaotic methods with solutions that ensure accuracy, transparency, flexibility, and efficiency.
User feedback underscores the platform's user-friendly interface and efficient integration capabilities, hallmarks of a well-designed POS system. While the platform is generally well-received for its functionality and ease of use, some users have suggested areas for improvement. These include enhancing the user experience on the Realtor-facing side of the app and expanding the Zapier integrations. Additionally, integrating a pre-qualification app directly into the calculators and home screen has been noted as a beneficial enhancement for the POS features.
9. Roostify
| Founded: 2012 HQ: San Francisco, United States | |
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Key info |
Free plan: No
Support: Email support and online resources |
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Best for |
Lenders seeking a more transparent mortgage process |
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Pros |
+ Streamlines the home loan process, enhancing efficiency and user experience
+ Robust document management and loan servicing features
+ Offers real-time visibility into loan applications for improved tracking
+ Customizable for different lending institutions and scalable for growth |
|
Cons |
- Lack of online reviews or free plan make commitment risky
- Lacks notable features such as workflow management and third- party integrations |
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Integrations |
Salesforce, DocuSign, Finicity, and more |
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Pricing Model |
On quote |
Roostify is a cloud-based digital mortgage management platform specializing in enhancing the mortgage POS process for midsize and large businesses, such as depository banks, credit unions, and independent mortgage institutions. The multi-purpose mortgage POS system offers a comprehensive suite of services including Residential Mortgages, Credit Reporting, Electronic Applications, Customer Statements, and Loan Servicing, all available in one centralized location. Roostify's aim is to simplify and accelerate the home loan experience, offering a seamless interface for both customers and lenders.
Offering real-time visibility into loan applications, Roostify allows agents to efficiently manage customer interactions and loan processing stages. The platform's user-friendly web-based portal enables agents to track and share critical information securely and without risk, a significant advantage in the mortgage POS context.
The mortgage POS system provides an intuitive interface, allowing users to create a customized brand experience for applicants. This capability is particularly relevant in POS systems, where the customer experience is paramount. Furthermore, Roostify ensures that agents can track every aspect of the customer journey, optimizing risk management and process efficiency.
Despite its comprehensive features, the platform does have some limitations. Users may encounter a learning curve with certain features due to their complexity. Also, there have been instances where the user experience could be more streamlined. These challenges, however, are often found in robust, feature-rich platforms and can typically be mitigated with proper training and support.
Overall, Roostify's focus on creating an integrated and efficient mortgage POS experience positions it as a valuable tool in the industry. Its ability to enhance the loan application and management process makes it a noteworthy choice for businesses looking to improve their mortgage services.
Wrapping up
In the rapidly evolving world of mortgage lending, having a sophisticated Point of Sale (POS) system is no longer a luxury—it's a necessity. Through this article, we've journeyed together, exploring the pivotal features that differentiate the best mortgage POS system from the rest. From streamlined document management to real-time notifications and from white-labeling capabilities to seamless integrations with other key systems, you have learned what truly makes a system stand out. Moreover, the real-world utilization scenarios painted a vivid picture of how organizations harness the power of these platforms to enhance their operations. As the mortgage landscape continues to shift and grow, being equipped with the right POS software can be the difference-maker. We trust that with the insights shared, you're now well-equipped to make an informed choice, ensuring efficiency, trust, and client satisfaction in all your mortgage endeavors.
Our Top Pick - Shape
4.8/5 - from 2,000+ reviews
All-in-one software for marketing, sales, customer service, CRM, and operations. Improve communication and maximize your business.
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Please note: All pricing mentioned in this article is based on information available as of 03-5-2024 and sourced from the respective companies' public pricing pages. While we strive for accuracy, we recommend verifying with the specific company for the most up-to-date details.
