LOANLEDGER Reviews

Pros

This is the second company I have run and purchased this program for. My reasoning is simple, it is designed for the small to mid size servicer and not a tremendous amount of training required. If you can read you can use this system. Also, it has given us the opportunity to handle several companies at once without a huge cash outlay. My staff have been very successful using virtually all of the functions enveloped within this program!

Cons

The system is virtually identical to what I purchased 25 years ago and could use some updating in its' appearance. That said, it functions just fine!

Pros

Has all the features you'd want for clients, investors, property details, link to investor portfolio, amortizations , letters, and tons more.

Cons

The cost. Expensive to start. Must pay for frequent updates (very costly).
Also this system does a lot of piggy-backing of other programs like quick books, Microsoft word, etc. In order from the programs to communicate properly you need to code generic letters and more. If you can't figure it out yourself you must pay for support. I also find myself still double imputing all information between QuickBooks and loan ledger because they don't communicate payments nad coupons or the importation of the data properly.

Pros

Cost efficient.
Since I have been using it for 9 years, it is easy for me to navigate.
Prints satisfactory reports.

Cons

customer support

the fact that it is NOT cloud based and I have to do the annual uploads.

We recently tried to move it off one server and on to another and we were left with NO customer support to do so. I was not able to access my database for over one week. It is scary,,,,,

we are actively looking for another company to service our needs.

Pros

It is easy to use and somewhat user friendly. The software is easy to follow and has just the right features I need.

Cons

I wish I was able to print more than report at a time to my screen. If I forget to close out of one report and try to print another report I get an error message and get kicked out of the software.

Pros

Easy to use and collect data. Saves a lot of time instead of doing a lot of this manually. easy to get annual interest on everyone

Cons

I dislike having to re-do everything each year. i have a hard time getting this done. i usually have to have customer support walk me through t each year.

Pros

The program is not difficult to learn how to use. sssssssssssssssssssssssssssssssssssssssssssssssssss

Cons

Payoff statements cannot be customized (to my knowledge). Program sometimes freezes after 1-2 hours of inactivity - have to shut down and log back in. Have never been able to get loans to automatically apply principal and interest payments correctly.

Cons

No response from customer service or programmers

Pros

simplicity, easy-on-the-eye graphics
help is just an email away,,,,,
loan accounting features are intuitive

Cons

reports can be a bit clumsy
error messages are hard to decipher
no warnings when you get an error, you are just booted off

Pros

It functioned OK when it was working but is outdated.

Cons

Absolutely terrible, nonexistent customer service. When trying to call for support it sounds like the company is working out of someone's house and no longer supports the software. We've been told there is one person in the entire company that can answer questions about loan ledger - and she seems to be in the office 2-3 days per week. Our software has been nonfunctional for the past 4 months and a resolution seems nowhere in sight.

Pros

simple program, accurate reporting,

Cons

no escrow reconciliation, confusing steps to correct input mistakes and way too expensive renewals costs