HES LoanBox Reviews & Product Details

One of the things that stood out to us is that the loan origination module has compliance features right from the start which is a big help to always being in regulatory requirements during the whole application process. Because the workflow can be adjusted to our specific needs, we are able to replicate the way our credit committee works for approvals. On the loan side, operations are equally good as they provide a clear, self-service portal to our members where they can access their loan details, and make payments. This has impacted our call center volume in a positive way. Review collected by and hosted on G2.com.

The reporting feature is very effective, but it is not as easy to grasp as other modules of the system. Some training was required to develop the highly customized reports. Their support team was great in assisting us to create the templates we needed which made it a very short-term hurdle. Review collected by and hosted on G2.com.

The investor reporting and distribution functionalities are simply amazing. With only a few clicks, I am able to calculate and distribute the interest payments to our private investors in an automatic way every month, which has really changed our investor relations for the better. The loan servicing dashboard is like a health check for the entire portfolio of our, and it also includes any situations of arrears. The system is doing the best job in the handling of the complexities of real estate loans, which is escrow for taxes and insurance, without any problem. Review collected by and hosted on G2.com.

The mobile experience is still convenient for data checking, but I wouldn't want to do some complicated tasks there. It's quite obvious that it's a desktop-first workflow that is more suitable for our back-office use, but it could be a disadvantage for brokers who are always out in the field. Review collected by and hosted on G2.com.

The seamless communication between loan origination and servicing was a big factor in our decision. We are now able to handle a loan from the first application, through underwriting, and directly to a fully serviced portfolio without any manual data re-entry. The automated payment processing and investor reporting have been a huge time saver all our months. For a company of our size, having a system that not only reduces administrative overhead but also gives us a professional client portal is absolutely revolutionary. Review collected by and hosted on G2.com.

To correctly set our specific loan payment schedules and fee structures, it took quite some time with their support team. They were very helpful, but the process was more involved than what we had initially expected. However, everything works perfectly once the setup is completed. Review collected by and hosted on G2.com.

The platform’s efficient control over our unique and various loan products while maintaining a consistent user experience for our organization. As a CDFI, we should allow for non-standard loan structures and community development financing options that conventional lending platforms cannot provide. HES LoanBox allows you to set up your own workflows, document requirements and approval processes without too much custom coding. Our loan officers, underwriters and external partners can only view information necessary for their jobs through role-based access controls. Review collected by and hosted on G2.com.

Our administrative team found it quite difficult to learn at first. Even though the platform is powerful, the setup and maintenance of our complex loan products required special skill. This took time to develop in house. In some cases, the more advanced reporting features require technical expert assistance for full implementation, causing bottlenecks when business users need custom reports quickly. Review collected by and hosted on G2.com.

Your platform's flexibility is what we value most as a mission-driven CDFI. Rather than being subject to out-of-the box solutions that try to fit one size for all, HES LoanBox allows us to be unique and creative with the way we serve our customers. We have the ability to tailor workflows, scoring models and documentation checklists to our unique underwriting criteria (that differs from traditional commercial lending). This dual approach enables us to keep our distinctive purposeful mission and simultaneously benefit from the efficiency of a contemporary, automated origination engine. Review collected by and hosted on G2.com.

The reporting module is very powerful but complicated to really master it and use it for our custom data needs. Developing complex reporting around the specific impact metrics of interest to our stakeholders can require knowledge of SQL or a help desk request. Better drag-and-drop reporting interface for admin users would enable our business analysts without frequent IT involvement. Review collected by and hosted on G2.com.

As a consultant for lenders in the region, I have witnessed significant difficulties concerning their origination software and servicing platform. HES LoanBox is one of the few solutions I recommend that provides truly seamless end-to-end ecosystem. The back-office staff can use the software easily. The custom dashboard provides an overview of the entire loan portfolio, including new applications and delinquencies. I was very impressed with the white-label borrower portal which allows my clients to offer a contemporary self-service solution that increases customer retention with little investment in IT. Review collected by and hosted on G2.com.

Small credit unions require a dedicated project lead. Many configuration decisions are usually needed. These may include workflow stages and payment codes. They require a fast but not immediate setup as a result. Although the platform is powerful, it also means that you have to decide upfront. The HES team takes you through it but it’s not a completely hands-off implementation. Review collected by and hosted on G2.com.

The end-to-end life management is where HES LoanBox excels. We rely on it from initial online application up through final payment, including collections. We are able to customize the back-office to fit our workflows around our loan products without the need for daily developer support. Our use of the automated SendGrid notification engine has freed loan officers to focus on more meaningful client services providing email and SMS notifications up to fifteen days prior to payments due. Review collected by and hosted on G2.com.

We had an area-specific payment processor we had to integrate with and one that was not already on HES’s list. Their team was helpful and created the integration, but that added a couple of weeks on to our timeline. I realize they can’t have every connector implemented, but a larger native library would be helpful. Review collected by and hosted on G2.com.

For us, it was speed of implementation that tipped the balance. We were doubtful we could leave behind our old systems so soon but HES made it happen. We were going live with applications in three weeks. Integration was another big bonus, linking with our chosen KYC provider, Jumio, was seamless and did not require significant resource on our IT end. We found the white-label borrower portal to be great, as it kept our brand integral in the customer journey. Review collected by and hosted on G2.com.

The first reporting dashboard is great for daily operations, however, our analytics team would like to see more complex and customizable dashboards for portfolio analysis that could be ours without exporting anything. Not a major point as all the core data is accessible. Review collected by and hosted on G2.com.

The transparency it offers during the loan origination is invaluable. As much as I'll like to play the role of the stock market analysts, as a Realtor, it means doing everything I can to make sure my clients know what's happening and that their deal close successfully and on time. The secure, role-based portal of the platform enables me to check live status of the loan without continuously having to email or call the loan officer for updates. This simplicity and transparency lets me stay ahead of challenges and keep everyone on track throughout the home buying process. Review collected by and hosted on G2.com.

The alert system on the agent portal can be a little aggressive. And I get an alert for every tiny little update so more control on the alerts I actually get would be nice. For example, being able to place higher priority notifications for significant events, like "Clear to Close", in front of notifications for less significant updates would allow me to focus on more important information. Review collected by and hosted on G2.com.

The best thing is the stability of platform and role based access controls. A manager for quality and process integrity, I need a system that’s reliable and safe. HES LoanBox is an adaptable middleware that prevents any possible malfunction. Perfect RBAC, so my team has the permissions that it needs to operate, without access to scary financial data or core system settings. This package of reliability and security is indispensable for our conformity and everyday operations. Review collected by and hosted on G2.com.

The basic things are great but some of the more advanced reporting can be complex to learn. The first few rounds with support made the fine-tuning of custom data exports a breeze. It’s not something that comes up often, but it’s one area where the user experience could use some work for power users who are trying to work with very specific data sets. Review collected by and hosted on G2.com.