Alliance Aims To Enhance The Pricing And Eligibility Process For Private Money Loans

LoanPASS, a fintech provider focused on next-generation decisioning automation for all types of lending entities and loan products, and LendingWise, a purely web-based, all-in-one CRM, LOS, servicing and marketplace platform that is widely leveraged by commercial and private money lenders and originators of all sizes, launched a strategic partnership that delivers a robust product and pricing engine (PPE) embedded within a comprehensive loan origination system (LOS) that caters to commercial and private lenders.

The new interface marries the power of two distinct technology functions that are paramount to the success of private money lenders. LoanPASS developed a highly configurable, industry-agnostic decisioning engine for use by all types of lending entities. It returns instant, accurate results on any type of loan product. The low-cost PPE solution resides behind-the-scenes and is accessible by users working within the LendingWise LOS workflow onto the formal underwriting process and funding stage.

“We are very excited to partner with the phenomenal team at LendingWise that developed a feature rich, all-inclusive cloud-based LOS from the ground up for the private money lending space,” stated Mike Lewis,” president of LoanPASS. “The synergies between our two companies will deliver newfound value to end-users operating within the LOS and brokers working directly with borrowers. Upon seeing the new capabilities, it’s a no-brainer to begin harnessing the integration.”

LendingWise’s comprehensive cloud-based platform gives users product options that are pre-configured for bridge, fix & flip, construction, rental, portfolio, agency/conventional, SBA, MCA, equipment, and also proprietary loan programs.LoanPASS’ user friendly interface takes product and pricing management a huge step further by empowering non-technical users with the unique ability to easily add new private loan products as well as publish live changes to existing product and pricing eligibility adjustments. 

In order to optimize the display of LoanPASS’ decisioning capability on commercial and private money lenders’ customer-facing websites or portals, the integration leverages iFrame technology to extend a customized presentation of their specific products, pricing and eligibility fields. This takes white-labeling to a much easier and inexpensive level while maintaining the lender’s own branding and unique customer experience. LoanPASS also offers contemporary APIs that third party providers can utilize to seamlessly integrate with its decisioning engine free of charge.

“Our alliance with LoanPASS is poised to make the rollout of new private money lending products much easier for clients, along with making changes to existing programs,” said Chris Fuelling, CEO of LendingWise. “Using LoanPASS’ business-side control tools in conjunction with LendingWise’s turnkey all-in-one platform, lenders can now immediately publish product and pricing updates to their brokers the way it should be in this volatile market — at the speed of doing business.”

Both LendingWise and LoanPASS apply the latest software development techniques and languages, deliver their solutions on a software-as-a-service basis (SaaS) basis, and reside securely in the cloud. The two fintech providers each reside in Miami, Fla. and were founded in 2017 and 2019, respectively.