Lending & Leasing as a Service (LLaaS)

LLaaS is a cloud-based origination, servicing, and collections platform designed specifically for small & medium sized lenders. Feature rich, flexible, and easy to implement, LLaaS is a perfect fit for direct and indirect lenders who offer their customers loans, leases and/or lines of credit. The platform is used by auto lenders, equipment finance companies, credit unions, alternative finance and small business lenders.

Take a deeper dive into LLaaS by viewing the data sheet directly below.

  View LLaaS Data Sheet  

Comprehensive Loan, Lease, Line of Credit Software

  • Built on configurable processes for the complete lending lifecycle, including origination, servicing, collections and asset management
  • Predefined finance processes with global best practices optimizing the customer experience
  • Robust business rules engine for each business process adhering to the financial institution’s internal practices and policies
  • Increase productivity with automated processes and transactions
  • Improve customer experience with end-to-end capabilities in a single lending software platform
  • Drive business growth with quick and easy launch of new products
  • Deepen customer relationships by enabling employees to make timely decisions
  • Enable comprehensive data capture for risk management and compliance
  • Facilitate state and federal compliance through a purpose-built platform

Loan Origination Software

Best Loan Servicing Software

Best Loan Origination Software

  • Allows lenders to accept, process and decision credit applications in a paperless mode
  • Delivers quick credit scoring and automated decision making
  • Provisions configurable credit guidelines to ensure regulatory compliance
  • Supports flexible workflow management for each stage in the lender’s underwriting processes
  • Provides robust pricing strategies to drive market share and profitability
  • Simply the best loan origination software on the market
  • For a deeper dive into the specific Loan Origination Software features and capabilities including a brief video, scroll towards the bottom of this page.

Loan Servicing Software

Best Loan Servicing Software

Best Loan Servicing Software

  • Allows the lender to manage all customer information in a centralized location
  • Simplifies the customer service and management processes with a single source of truth
  • Manages unified customer record with a common customer relationship view across products
  • Supports a comprehensive transaction engine to process automated transactions
  • Enhances better customer service and resolves customer requests
  • Simply the best loan servicing software on the market
  • For a deeper dive into the specific Loan Servicing Software features and capabilities including a brief video, scroll towards the bottom of this page.

Loan Collections Software

Best Loan Servicing Software

Best Loan Collections Software

  • Provides comprehensive functionality to support specialized collection-related activities
  • Tracks all occurrences and related histories associated with specialty collection activities
  • Allows 360° customer view with details to credit and repayment history with the lender
  • Allows detailed history of customer contacts, promises-to-pay and follow ups
  • Simply the best loan collections software on the market
  • For a deeper dive into the specific Loan Collections Software features and capabilities including a brief video, scroll towards the bottom of this page.

Enhanced User ExperienceBest Loan Servicing Software

  • Self-service options for consumers
  • Support for third-party interfaces
  • Seamless transition across channels
  • Compatibility with credit bureau agencies, asset valuation guides and credit card payment interfaces
  • Paperless workflow with dynamic work queues that can be tracked, analyzed and audited

State of the Art TechnologyBest Loan Servicing Software

  • Service-oriented architecture (SOA) with a browser-based user interface
  • A back-end relational database, with a middle tier of business components.
  • Provides a high level of configurability by using open standards-based middleware.
  • Brings together a robust technology platform and extensive experience in the industry
  • Supports your business with predefined processes that represent industry best-demonstrated practices.

Flexibility of DeploymentBest Loan Servicing Software

  • Choose between a cloud or on premise deployment
  • Cloud offering built on a highly elastic, simple and secure cloud platform
  • Designed specifically for lending and leasing businesses
  • Supports seamless data file integration optimizing performance

Lending & Leasing Software for the following :

Best Loan Servicing Software

  • Auto
  • Powersports l
  • Equipment
  • Commercial
  • Consumer
  • Solar
  • Retail
  • Mobile handset
  • Residential and commercial HVAC
  • Third-Party Loan Servicing
  • Fixed and Revolving Lines of Credit
  • Factoring

Loan Origination Module – Deep Dive

OFSLL’s Origination Module allows financial institutions to accept, process and decision credit applications in a paperless mode, with a single data entry process. All of these applications are controlled by a flexible workflow management system that can be configured to reflect the step in the company’s underwriting processes. As part of the origination process, OFSLL provides the lending institution the ability to configure and change the workflow, plus add pricing strategies, user responsibilities and administrative override parameters.

Key Features:

  • Receipt of applications through multiple channels such as the web or fax
  • Submit and receive credit bureau information online
  • Automatic parsing of the credit bureau information directly into the application
  • Calculation of user-defined credit scores with an internal score card, using a weighted average on criteria from both the application and the credit bureau data
  • Make credit decisions automatically or manually
  • Generate automatic default stipulations
  • Capability to re-score each applicant separately
  • Setup user-defined credit application tracking attributes
  • Interface with multiple collateral asset valuation guides and VIN checks, plus VIN check digit
  • Support single premium insurance and force placed insurance
  • Allow promotions, such as reduced rate or no interest for a period of time
  • Provide completion checklists to user enhance processing and reduce training
  • Automatically transmit decisions back to the dealer, originator or applicant
  • Determine the top four rejection reasons for adverse action processing compliance
  • Link applicants to existing customers to maintain & maximize the customer relationship
  • Link the origination data to funding processes and the servicing module in real time
  • Monitor the decision flow online throughout the origination process
  • Process checks through an external Accounts Payable system or send Automated Clearing House (ACH) payment(s) directly from the system
  • Define multiple scorecards for a product and designate one or more for auto-decisioning
  • Build a customized underwriting workflow based on user-configurable parameters for a paperless flow of information
  • Setup customizable credit guidelines within the system to ensure compliance
  • Upload scanned documents to an application
  • Generate reports on applications based on status, dealer, user or underwriter
  • Trigger “actions” based upon certain transaction events, such as status changes


Loan Servicing Module – Deep Dive

OFSLL’s Servicing Module allows the financial institution to manage all customer information in a centralized location to assure data integrity and to simplify the customer service and management processes. A unified customer record always ensures that the entire relationship is always visible, allowing the institution to provide better customer service, resolve queries and improve service personnel productivity.

Additionally, OFSLL’s Servicing Module provides customer service personnel with all customer account information for the duration of the customer relationship. The customer service screens provide real-time information about the customers, account balances, amounts due, transaction data, call activities and comments. The powerful ad-hoc search capability provided allows real-time searching for accounts.

Key Features:

  • Supports a transaction authorization (Maker-Checker concept) for manual transactions only, such as monetary (except payments) and non-monetary transactions
  • Performs interest calculations using different methods such as simple interest (including daily), actuarial, Rule of 78ths’s and average daily balance
  • Allows suspension of interest accruals on accounts
  • Calculate minimum due amounts based upon a variety of criteria
  • Process one-time and recurring ACH payments
  • Maintain the allocation of payments between principal, interest, fees, and expenses
  • Perform changes on specific payments that have already been posted
  • View the entire transaction / payment history of any account online in real time
  • Perform tax and insurance escrow processing for loans
  • Backdate account transaction activity as needed
  • Determine the day interest accrual starts
  • Maintain, track and monitor account insurance and collateral / asset information
  • Track insurance and warranty claims
  • Change customer due dates
  • Process loan promotions, such as reduced rate, no payment and interest or same as cash
  • Grant and process extensions (or deferments)
  • Perform payoff (or prepayment) quotes and maintain a history of all quotes provided
  • Generate payment receipt (in a licensed deployment only)
  • Waive or reverse any fees and expenses that have been incurred
  • Interchangeably place accounts in and out of ‘non-performing’ status
  • Charge-off accounts
  • Create and perform maintenance on multiple fee types and fee rules
  • Establish and track information in unique user-defined data fields
  • Attach scanned documents to an account
  • Trigger events that will perform the associated actions when an account moves from one status or sub-status to another
  • Maintenance of user-defined account conditions
  • Process statements on a cyclical basis and send the data electronically to a printing or fulfillment vendor
  • Create and maintain custom messages within the billing statements
  • Provide a General Ledger (GL) batch handoff to an external system
  • Generate operational reports on transactions, balances and statuses & other data
  • Charge periodic maintenance fees for loan servicing


Loan Collections Module – Deep Dive

OFSLL’s Collections Module offers a full-featured Lending/Leasing suite of capabilities that is the perfect fit for any financial institution interested in reducing delinquency, increasing collections on charged-off loans and streamlining processes, such as default management, bankruptcy, foreclosure, repossession and fraud tracking.

In summary, the Collections module provides the following key functionalities:

  • View a complete history of an account’s related financial information (this includes all financial transactions, payments, delinquency ratings, and credit bureau information)
  • Assign accounts for collection activity based on any or multiple attributes (the system allows the financial institution to define its own work process rather than forcing it into a specific approach)
  • Electronically route delinquent accounts to other users for action or review, such as forwarding for management approval
  • Use checklists, account statuses, and follow-up dates to manage productivity
  • Determine monthly delinquency ratings for accounts & download appropriate data to credit bureaus
  • Enter multiple promise-to-pay dates; the system places the account back into the collector’s queue if any of the promises are broken
  • Define call action and result codes, with corresponding follow-up dates
  • Identify the time zone and best time to call
  • Enter, categorize and search unlimited comments and remarks; these fields are also time/date and user stamped, automatically
  • Automatically update delinquency information after backdated transactions are posted
  • Update and maintain “referred-party” information
  • Assign and view current and past vendor assignments to ensure timely follow-up
  • Interface with predictive dialers
  • Enter and maintain customers’ bankruptcy information
  • Create bankruptcy sub-statuses (disposition codes) from which to track the process and build work queues
  • Enter and maintain foreclosure and repossession data
  • Perform estimated and actual loss analysis on the repossession /sale of the asset
  • Enter and maintain charge-off data in the deficiency module
  • Generate reports on collections, bankruptcy, foreclosure, and repossession activity for variance information, repossession assignments by vendor
  • Conduct the follow-up activity one time only if the customer has multiple accounts in various delinquency buckets.