Loan Management Systems (LMS) and Loan Origination Systems (LOS) help to provide a streamlined and automated lending process. These systems are an essential tool to improve efficiency, reduce costs, and ensure compliance.  In this post, we will provide an A-to-Z list of the features and functionalities of our LMS and LOS.

AUTOMATION

Don’t be stuck in the manual process anymore. Bridge Loan Network’s Loan Management System and Loan Origination System allow brokers and lenders to ditch tedious processes and automate their company.

BORROWERS

Borrowers will be able to upload their own documents that are requested from them. A unique link will be provided to them, and they can use that link to access their documents. They can also upload documentation of their own and complete signatures to help with the progress of the deal.

CLOUD-BASED

The Bridge Loan Network software is fully cloud-based, meaning you don’t have to download any extra applications to your computer, and can access your portal anywhere you have an internet connection. 

DOCUMENT MANAGEMENT

Easily manage all the documents pertaining to your loans and deal scenarios. Keep track of deadlines, document expiration dates, and more directly through the software.

EFFICENT

Take your outdated manual process and automate it, turning it into an efficient workflow! No more jumping back and forth between folders and files. Every document you need will be available in one place with the simple click of a button.

FLEXIBILITY

Because the Bridge Loan Network software is cloud-based, all you need to access it is an internet connection. Access to software is flexible, and you only need the link and your login. It is also important to keep security in mind, so remember to only use secure and trusted internet connections.

GROWTH

Software solutions help your team to easily grow. Additional team members can be added on to your portal, and you still pay the same price. No matter how much your team may grow, your costs for the portal will remain the same.

HISTORY

Easily keep track of your borrower’s history with you, and their pertinent information needed for loan files. Know what deals they’ve been a part of in the past, what kind of deals they are generally interested in, and have their information on file for future loan files.

INTUITIVE

Bridge Loan Network’s software has an intuitive and familiar feel to it, allowing you to jump right into the software and get your business rolling. The team is always available for every step in the process if you ever need help.

JOINT APPLICATIONS

If more than one person is applying for the loan, our software can handle that. Easily add borrower and co-borrower information into the contact section in the portal.

KEY LENDING METRICS

See metrics such as loan-to-value ratios (LTV), credit scores, and more important lending metrics directly within the software. This can help you make important business decisions about the deals your company is working on. Know if it’s the right deal for you, or maybe you need to pass on this one and move on to other deals.

LOAN PROGRESS TOOLBAR

Never lose track of what stage your deals are at again. Easily see when deadlines are coming up, and the progress of your loan scenario with our loan progress toolbar, which can be customizable to your lending milestones.

MILESTONE EMAILS

Receive automated emails when major loan milestones are completed, as well as milestone being logged into the message board within the loan with time stamps.

NEW EMPLOYEE ONBOARDING

Incorporating the software into the new employee’s onboarding process can help ensure a smooth transition for your lending team. Set-up of their portal can be done in advance, allowing the new team member to log in on their first day and begin acquainting themselves with the software they will utilize daily.

ONE CLICK CREDIT/BACKGROUND CHECKS

Background and credit checks are as easy as one-click and can be done directly within the software! There will be no need for a separate program or software for credit and background checks when utilizing Bridge Loan Network’s software.

PARTNERSHIPS

We are proud to offer several partnerships to help make your life easier when it comes to closing deals successfully. We can offer assistance and resources with everything from appraisals, background reporting, and referrals.

QUICK LOAN PROCESSING

With Bridge Loan Network, you and your team can process your deals from application to closing, all in one convenient place. Including requesting all required documentation, reports, and client information.

REFERRAL PORTAL (Private Lender Link)

With Bridge Loan Network’s software, you have access to Private Lender Link’s Referral Portal. Receive feedback and lender recommendations for deal scenarios.

SECURE PAYMENT COLLECTION

Easily collect any fees and payments directly through the software with secure payment portals. No more jumping back and forth between manual documents and payment processing.

THIRD PARTY INTEGRATIONS

The Bridge Loan Network software offers open API capabilities, allowing for more integration of external systems, and helping control the flow of important information.

UNLIMITED DOCUMENT COLLECTION

There is no limit to how many documents can be saved to the Bridge Loan Network software. All the documents and information for all your loan scenarios and deals can be stored in one easy to access place and can be exported to your local drive when needed.

VIRTUAL CUSTOMER SUPPORT AND TRAINING

All the necessary training that you need to get up and running with the software is conducted virtually. If there are any questions that come up after the training, the support team is just a click away. Or you can reach out to the representative you had your demo or training with.

WHITE LABELED

Everything from the application to your portal can be branded to your company, including adding in your logo. Your brand identity remains consistent, and your clients won’t be confused about who they are working with!

X-PORTING CAPABILITIES

If you ever need (or want) to work outside of the software, you can export any of the documents or specific loan files to your computer. Exporting capabilities enable lenders to generate reports, share loan data, analyze loan data to identify trends, and make data driven decisions.

YES, IT IS SIMPLE

The Bridge Loan Network software is the easiest and simplest software you will use for your business! With virtual training, you’ll be able to jump right in and put in work that matters instead of wasting time in complicated systems.

ZERO TIME WASTED

Spend less time clicking around between files and deals and spend more time being productive while working on your deals! Less time on finding files means you aren’t wasting time that you could be using to make more money.

For more information about our Loan Management System and Loan Origination System, check out our website and request a demo today!

Don’t miss out on deals because of messy processes. 

With spring officially here, a lot of people are shifting their focus to their spring-cleaning checklist. But cleaning out physical clutter isn’t the only cleaning that you should focus on. Now is a good time to go through your technology to clean up files, check account security, and get rid of some built-up dust, crumbs, and cobwebs.

Are there unused applications on your desktop?

Take some time to go through your applications and files. If there’s anything you haven’t used recently, now is the time to get rid of it. By getting rid of old files and applications, you can help your device run smoothly, and you’ll have space for more up to date and relevant files. If you aren’t sure where to start with your files, you can always sort them by date, size, or name to help you decide what to delete.

Do you know where your files are?

If you find that you are struggling to locate the files you need when you need them, take an afternoon to create folders and subfolders. By organizing your folders based on your workflows or categorized by tasks, it will be easier to find what you need. You could choose to group files by date, event, or file type (photos, videos, personal documents, work documents).

Are you up to date?

Do you remember the last time your computer had an update? If it’s been a while, it may be time to check for system updates. By keeping your software up to date, you can easily improve your device’s security and performance. If you haven’t already, now is a good time to enable automatic updates so you don’t need to worry about checking manually in the future.

Is there a layer of dust and crumbs?

It will only take a moment, but cleaning your computer, keyboard, and other hardware can prevent problems like overheating or sticky keyboard keys. Overall, cleaning hardware helps to maintain your device, ensures it runs smoothly, and helps to extend its life.

Have you backed up data recently?

Having a recent backup of your data is helpful in the event of hardware failure, theft, or human error. When backing up your data, it is a good idea to use multiple backup methods such as an external hard drive and cloud storage. You should also check your existing backups regularly to make sure the data is correctly backed up and you can restore it easily.

Are your accounts secure?

Have you updated your passwords recently? Do you have two-factor authentication turned on for accounts that have that feature? Updating passwords on a regular basis and turning on two-factor authentication is an easy way to protect your personal data from online threats. Be sure the new password is strong, unique to that account, and can’t be easily guessed by anyone else.

Have fun while cleaning and organizing your technology and prioritize proper data management and security to maintain the performance and functionality of all your devices. To assist in managing your lending files and making them easier to maintain and organize, you should check out Bridge Loan Network’s Loan Origination Software and Loan Management System. Happy tech tidying!

Loan Management Systems can be very helpful for broker’s processes and pipeline management. It is an important tool for your business, and there are certain features you should love when conducting your business in a Loan Management System.

Streamlining the loan process

Loan Management Systems can automate the loan application and origination process, allowing you to process more loans in less time. This can help your team to increase their loan volume and revenue. All your loan files and data will be in one place, meaning you spend less time organizing files and more time closing deals.

Managing your pipeline

Loan Management Systems can provide you with a dashboard that shows the status of all your loans. Monitor your loan pipeline and prioritize your work according to the status of each loan. A key feature in our Bridge Loan Network Loan Management System, is a loan progress toolbar that shows the status of your current loans. This allows you to see where in the loan process as specific deal is, helping you stay organized and on top of your workload.

Automating communication

Loan Management Systems can help automate communication with borrowers, sending out reminders and updates on loan status, payments due, and other important information. This can help you stay in touch with your borrowers and provide better customer service. Bridge Loan Network’s Loan Management System can also send you loan milestone emails, allowing you to stay on top of your lending timelines. You also have the ability to communicate securely with your client directly within the software through the message log.

Ability for integrations and partnerships

Optimize your lending practices and improve your bottom line through partnerships and integrations within your Loan Management System. With open API capabilities you can connect partnerships to the system, like Bridge Loan Network’s partnership with Private Lender Link, you can receive lender suggestions and scenario input from the PLL team directly into your Loan Management System portal.

Overall, Loan Management Systems can help brokers streamline their loan origination and management processes, increase their loan volume and revenue, and provide better customer service to their clients. Reach out to the Bridge Loan Network team for more information about how our Loan Management System (LMS) can help your brokerage today!

The new year can be a great time to set personal and business goals around productivity and planning. It’s a fresh start and helps to set the tone for the rest of the year. In this article, we’re going to look at some of our favorite tools that we use that we hope can help you achieve your goals!

Task Tracking & Planning

Monday.com is a step above your typical paper and pencil to-do list and agenda. Monday helps you keep track of time-sensitive deadlines for major projects, industry conferences, personal work tasks, event planning, and more. Monday also has the ability to share specific workspace boards with the whole team to help keep everyone on the same page and up to date. It also allows you to assign specific tasks to team members, leave notes and attach relevant files.

Social Media Content Planning

If you have your own social media pages or help publish content for your business pages, there are different tools available to help you reach any social media goals you may set. Canva is a very helpful tool to make quick social media graphics. With free and paid versions, you have options for every budget. You can even upload all your branding elements, create video posts and create branded templates.

Once you have the content ready to be published, SocialPilot is a helpful tool for social media scheduling. Schedule your posts for Twitter, Instagram, Facebook, LinkedIn, Pinterest, and many more social media platforms. And if you need a quick graphic put together, you can use your Canva account right in the SocialPilot platform. SocialPilot allows you to see your social media posts in a calendar view by month, week, or day. You also have the ability to track analytical data on your posts, to adjust your strategy appropriately to reach your goals. If you want your content to be lined up in a specific way across all your platforms, SocialPilot will be a huge help.

Spark of Inspiration

Copy.ai is a helpful tool to help give ideas for social media captions and content ideas. It is an extremely helpful tool for creating social media captions and copywriting support. If you’re looking for a specific word that you can’t quite find, Copy.ai can help spark inspiration. It is as simple as typing in some keywords, picking a tone, and generating the content. This could give you ideas for a blog post, social media captions, or even hashtags for content.

Schedule Planning

Calendly is a helpful resource for booking appointments and/or meetings. It allows you to easily share your calendar’s availability, making setting up meetings easy and painless. The need to send emails back and forth trying to find a time and date that works for everyone is eliminated, giving you more time for productivity!

Now that you have some inspiration and resources for setting yourself up for success and reaching your goals in the new year, another valuable resource to add to your toolbox is our Bridge Loan Network Platform. Through utilizing Bridge Loan Network’s Loan Management System, you can help increase the volume of your closed deals and bring in additional revenue for your company. Connect with our team to learn more!

Now that you’ve had a successful show, it’s time to determine how successful this venture was for you and your business. How you determine success is ultimately up to you. You may decide to base the success on how many deals you closed with connections made at the show. Or maybe you base your success on how many new connections you made while there. Ideally, you should set these success metrics before the show begins, to help ensure tracking post-show success runs smoothly.

When it comes to following up with new connections, start by reaching out through email. Thank them for coming to the show, connecting with you and recap your business and how you can work together towards a common goal. Include any application links you may have, as well as general information about your business as a refresher, based on any conversations you had while at the show. If one of your success metrics is to set up meetings or product demos with your new connections, Calendly can make scheduling these meetings simple. If you have a Calendly account, you can include your appointment link for simple scheduling through email.

Reflecting on the show, it’s important to review your performance, but it’s also important to reflect on the overall atmosphere of the show. What did you do throughout this show that worked well to reach your success metrics? And is there anything that you can do for the next one to make it even more successful?

If you are exhibiting at the show, it’s helpful to review the logistics post-show. What were some specifics of the floor set-up? Your booth location on the show floor can make a significant difference in the overall performance throughout the show. Centralized locations and those near main egress doors usually provide ample foot traffic, which can present relevant deal scenarios. It may also be possible that you found your booth location was surrounded by companies or brands not in line with your customer base, and your booth performance lacked as a result.

Overall, consider if the show was right for you. Was it worth your time and effort to attend, and would it be beneficial to go again? Or maybe you determine you didn’t have success, and that’s okay. Take time to reflect on this show and figure out what you should change for the next show. Now you have determined your success metrics and what you’re looking for in a show you can better determine what is needed to be successful in the future.

There is a lot of behind-the-scenes work that goes into tradeshows, and it isn’t just what you see in the exhibit hall. Behind every exhibit are months of pre-planning, and post-show reflections. A successful tradeshow is the outcome of good planning and the right preparations. And as cheesy as it might sound, you really do get out of a tradeshow what you put in.

Research the individuals who will be attending. Who are they, and what might they be looking for while there? Learning who is attending can also help you plan out who you will talk to. If you see someone that you have either done business with in the past or someone you’ve had conversations with in the past and want to reconnect, reach out and see about setting up meetings with them. 

In addition, create goals for the tradeshow, both personal and business, and create a plan of action on how you can achieve those goals. By setting your expectations realistically for the event, and how you can best use your time and resources, you’ll be able to achieve or exceed those goals.

If your company has a booth location, schedule a time for your team to do a test setup before shipping the items to the tradeshow. Ensure everything works the way it should, and that nothing is broken or missing pieces. It makes it easier on yourself and your team if you know how to set up your booth before you get to the tradeshow floor. You might only get a few hours or less of set-up time, so it’s best to use the time wisely. The more time you have can be used for any last-minute emergencies that might pop up. 

Alongside ensuring your booth setup is good to go, print materials and handouts are key in sharing your company’s offerings with potential customers. If you think you have enough print materials, you probably don’t have enough! It’s always better to have over-estimated how many print materials to send than not having enough. The worst thing that can happen to you is someone wants information about you, or your company, and you don’t have any more print materials to hand out. If this does ever happen, and it might, the best course of action is to take their contact information down and send them a digital version of your materials.  

Be sure to bring materials to market yourself and the business you represent, including business cards. You are there to make connections. The people you meet may end up being a very useful resource down the road. So, bring a decent-sized stack of your business cards with you so that you can share your information with people.

Networking and making connections are key components of tradeshows. Even if there are no formal networking opportunities, speaking sessions, cocktail hours, parties and other events associated with the tradeshow are a great way to meet other people in your industry. While you’re networking, it is also a good idea to have some way to organize business cards and contacts that you made during the event. Some shows have an event-specific app with contact info for all the confirmed attendees, but sometimes you will need to store a contact on your own. This may be as simple as pen and paper, but some apps allow you to scan business cards and record their contact info and any notes in one place. You can also jot notes down on any business cards you collect from people, to help personalize your follow-up when back in the office.

These are just some of the things you can do pre-show to prepare yourself. There is a lot more on the technical side of tradeshows that is equally important. But these are great starting points to keep in mind regardless if you are going to your first tradeshow or your 500th.