Find the best mortgage software to match for your business

The software you choose should reflect your business specialty, whether it's making commercial loans or acting as a residential mortgage broker. Not every mortgage software application can suit all needs. If you want it to help manage appraisals, property management and investments, you may need a full-featured mortgage software suite. List your company's specific needs in detail first, then find a mortgage software solution that suits you.

I recommend: Find commercial mortgage software that can handle large volumes of business through the Mortgage and Loans Software Directory. Knowledge Storm uses high-tech tools to introduce you to leading mortgage software vendors. Talk to other mortgage providers at Broker Outpost about mortgage broker software benefits and problems they have experienced.

Test and compare a few mortgage software solutions

Many software vendors offer potential clients either a preview video or a demo version to download. Take these opportunities to get a closer look at your potential mortgage broker software before buying.

I recommend: Download a trial version of BrokerPro, a leading commercial mortgage software program for loan origination. See how software program Calyx Point works by asking for a demo.

Look for streamlining features

Instead of re-inputting information for new loans on existing customers, a program should be able to fill in the blanks for you and perform quick searches along multiple data files.

I recommend: Dynatek’s MORvision Lending Manager software streamlines the mortgage process from prequalifying through closing. Specifically designed for loan officers, Mortgage Quest automates as much as possible in the lending business.

Comply with government regulations

It is vital, but challenging, to comply with the ever-changing requirements of Federal and state real estate law. A regular update capability should be a part of any mortgage software package.

I recommend: Web-based programs tend to have the advantage over desktop applications when it comes to stay up-to-date. Oasis Software provides a web-based appraisal management tool for mortgage brokers. The Mortgage Office watches your back by printing out necessary IRS forms.

Use mortgage software to manage contacts

The mortgage industry involves communication on many fronts. Use mortgage software applications to manage contacts in an easy to use database.

I recommend: Calyx Software maximizes productivity by connecting mortgage brokers to customers and service providers. A conversation log allows you to keep a record of contacts too. INet’s eDominate software includes a customer relationship management tool in its program.

Market your business

Software can aid in marketing efforts by tracking mortgage leads and sales. Tracking tools tell you which marketing efforts pay off best.

I recommend: Manage mortgage leads with Lead Evaluation and Distribution System, a web-based program. Loan Officer Pro offers marketing tools and strategies specifically made for mortgage brokers.