Market Research Report on Lodasoft

Company Overview

• Name: Lodasoft

• Mission of the Company: Strive to make the loan process more efficient, scalable, and profitable, and enhance productivity and quality while providing structure and guidance in the mortgage process.

• Founded By: A team of lenders and mortgage technologists.

• Key People: No information is available.

• Headquarters: 38701 Seven Mile Road, #290, Livonia, MI 48152

• Number of Employees: No information is available.

• Revenue: No information is available.

• What is the Company Known For: Lodasoft is known for its Digital Workflow Platform which aims to eliminate complexity and automate the manual workflow involved in the everyday loan process.

Products

Lodasoft for Brokers

• Description: A platform agnostic digital solution designed for brokers to streamline their workflow.

• Key Features:

• Complete loan visibility, accountability, and transparency.

• Automation of rudimentary functions.

• Secure borrower and realtor portals.

• CRM, lead management, and automated communication tools.

Lodasoft for Lenders

• Description: An enterprise intelligent loan manufacturing (iLM) platform to reduce the cost of originating loans.

• Key Features:

• Task-based automation and intelligent workflow processes.

• Identifying training opportunities.

• Freeing internal staff to focus on growth.

Lodasoft TPO

• Description: A task management platform for Third Party Originators (TPOs) designed to optimize production capabilities.

• Key Features:

• Enhanced task management tools.

• A focus on improving TPO productivity.

• Customizable workflows and task automation.

Enterprise Workflow Platform

• Description: Provides task-based workflow management solutions across the enterprise.

• Key Features:

• Simplifies the process from initial prospecting to post-closing activities.

• Configurable dashboards, pipeline monitoring, and automation.

• Mobile solutions and cloud integrations.

• Powerful reporting capabilities.

Broker Automation and Digital Assistant (Virtual Assistant)

• Description: A digital assistant to manage communication and document collection.

• Key Features:

• 24-hour system-driven communication.

• Automated lead generation.

• In-process status updates and post-closing follow-up.

Home Equity Platform

• Description: A platform designed to streamline home equity lending.

• Key Features:

• Pre-fill applications using existing borrower data.

• Real-time pricing discussions and automated disclosures.

• Flexible and configurable task-based workflow engine.

Recent Developments

New Products Launched

• Single-Click Dual AUS Submissions for Freddie Mac & Fannie Mae:

• Introduced to simplify the submission process.

New Features Added to Existing Products

• Integration with Doma (June 30, 2021):

• Aim: Make closings simpler and faster.

• Integration with Black Knight’s Optimal Blue PPE (June 21, 2021):

• Aim: Expand access to mortgage industry solutions.

New Partnerships

• Partnered with Doma and Black Knight.

Summary

Lodasoft specializes in providing advanced digital workflow platforms tailored to the mortgage industry. With a strong mission to enhance efficiency, its technology targets lenders, brokers, and third-party originators, offering various tools for automation, communication, and document management. Recent integrations with high-profile partners like Doma and Black Knight highlight Lodasoft’s commitment to continual improvement and innovation in the mortgage sector.