In 1998, an acquaintance of mine took a job with a small Loan Origination Software company and called me to rave about everything they would soon have to offer.
They promised integrations with CRMs, interest rate pricing engines, digital document storage providers, title companies (for fees), and even consumer portals.
And twenty years later, that software company is now the dominant player in the industry and they’re finally almost where they promised to be in 1998. :)
I thought of this today b/c my wife, Heejin, just returned from the Digital Mortgage Conference in Las Vegas, where hundreds of companies were making promises about all of the wonderful things to come.
Over the last twenty years, I have seen hundreds of extremely impressive demos from software providers of every ilk, for CRMs, Loan Origination Systems, Customer Surveys, Consumer Portals (online applications), and everything else.
This is my advice based on our experience:
Go with the provider that can save you $10 now over the provider that promises to save you $100 six months from now with “coming soon” new features, b/c “coming soon” could mean twenty years (or never).
I also suggest talking to references to make sure there is adequate customer service. Even great software can be useless without enough support to properly implement it.
Founder/Broker | JVM Lending
(925) 855-4491 | DRE# 01524255, NMLS# 335646