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About LoanAce®

LoanAce is Loan Origination Software designed for ease of use and functionality. It is everything a loan officer or loan processor would need in a loan origination software system and more.

Origination:

All the tools needed for originating a loan including the loan application (1003), Good Faith Estimate (GFE), Truth in Lending disclosure (TIL), and all other necessary documents and disclosure.

Ease of use:

Fill out the forms once! LoanAce will automatically populate most of your borrowers' information from one form to another.

Processing:

Stay on top of every detail in the file with LoanAce's easy to follow file format. Use the exceptional tools available to make your job more efficient.

Why LoanAce?


Over the last several years we have invested millions of dollars to create a platform that our research proves is what originators and brokerages want.

LoanAce does all of the tasks that originators and brokerages need, just like every other LOS:

 

LoanAce

Other Guys

Merge credit reports from multiple credit companies

YES

Yes

Auto-populate the forms needed including the 1003

YES

Yes

Import/Export from other LOS systems, and upload to Lenders, and to be viewed by processors

YES

Yes

Allow ordering of title and escrow without filling out a bunch of forms

YES

We are one of two, though rumor has it a third just created it with one partner.

All of the basic loan creation and data management functions one uses in the loan origination process with their current LOS they will also see in LoanAce.

LoanAce excels in several other key areas


  1. Cost:


    2. LoanAce is free. Yes...Free. What's the catch you ask? Click here to find out.

    Aside from alleviating the burden of cost in a year when the market is costing originators and brokerages enough, consider this: Let's imagine a solid new hire with a list of leads gets through 20 calls an hour. Those calls produce 1 lead every 3 hours that will close. We'll assume the average commission is $3,000 and the brokerages split is 35%.

    Now consider you have to put that new originator through a 2 day seminar to teach them how to use a LoanAce competitor. In that instance not only will you have paid thousands of dollars for the LOS, but the company will have also lost almost $5,600 in revenue. Compare that to 4 hours with no training with LoanAce? Imagine if you took 30 minutes walking a new employee through LoanAce. You have your new employee making revenue producing calls in their first hour on the job.

  2. Ease-of-use:


    3. One of the challenges we knew from researching brokerages was the difficulty of the software. Making LoanAce simple was a key objective. Why?

    1. Training - Every hour you or your originators spend in training is an hour they are not spending generating business. In one user study LoanAce gave a brand new processor the LoanAce website and said, "Input a loan". Without training, she was able to install LoanAce on her PC and have a loan ready to submit to a lender in less than 4 hours.

    2. Information Technology - You are not in the software market, you are in the home mortgage market. We wanted to take away your need to feel like a part time software engineer.

    3. Limiting Frustrations - Your software should be an aid to the processes you have already deemed successful. With LoanAce we don't require you to change your processes; we just help you identify ways to do things quickly.

  3. Best-In-Class Service:


    4. Another differentiating factor is our service. At TeraVendo our mission statement is simple: We make all decisions to benefit the originator. To that end, we work to be the best LOS, with the best service, at the best price. We will do all we can to support and assist our customers in any way. From the super fast turn times with support emails to creating quick tutorials at the request of our customers, we bend over backwards to make sure every customer knows we are here to help.

  4. LoanAce provides a dynamic daily news feed:


    5. It may seem simple, and it really is. So simple - you wonder why no one else has done it.

    Having an industry specific news feed gives your employees the ability to have intelligent conversations on the fly about rate disruptions, banking trends, and mortgage industry news. It makes a reasonably savvy originator sound like an experienced loan advisor.

  5. Immediate Download:

    6. LoanAce is available immediately and downloads in minutes. Instead of ordering a new copy and waiting for the CD, paying for shipping, and tax, etc - you simply have your people go to www.loanace.com and download. Your shop is up and running in minutes.

  6. Easily attach files:


    7. LoanAce has the ability to drag and drop any attachments and automatically attaches any gathered through LoanAce including credit. This means you have the ability to keep a detailed electronic record of the file and everything that goes with it. Even scan signed documents to your desktop, drag and drop them into LoanAce, allowing you to have an electronic and hard copy of the file. This is excellent for compliance reasons.

  7. Automatic and custom logging:


    8. Another benefit for compliance is actions taken in LoanAce (for example: "Created Contact", "Created Loan File", "Credit pulled from Credex", "Title & Escrow ordered from 'Company'") are automatically time and date stamped into the integrated log/diary field. Your employees can also add their own notes and detail simple conversation notes or even any challenges with the file.

  8. Integrated services:


LoanAce includes many valuable integrated services including Title, Leads, Credit, Loan Placement Engine, Lenders, and more. We are listening to the originators and adding the services they want to have access to in one central system. No need to enter and re-enter in a password for all of the various services you use. Enter the passwords once in LoanAce and they are remembered for you!

There are also several other features including the Contacts, Calendar, Tasks, Loan Stats, and Rates section. All of these tools added to benefit the originator and further our 2007 goal of exceeding beyond being a loan origination system, to becoming the "Total Origination Solution." We are moving toward this objective while working diligently to keep the clutter out. This is not an easy goal, but one we can see clearly and work toward daily.

LoanAce will be the best and most used LOS in the nation. We will not stop working until that is the case. And to do that we must be fanatically committed to our Mission:

To make all decisions to benefit the originator/broker
To be the best LOS, with the best service, at the best price

So why wait? Download LoanAce now.