Bryt Software
2 Reviews 5/5 ★ ★ ★ ★ ★Cloud-based loan servicing software that automates payments, interest calculations, and borrower reporting.
Product Overview
Bryt Software is a cloud-based loan servicing and management platform for lenders tracking loans after funding. It handles payment processing and allocation, interest accrual across methods including 30/360, Actual/360, and Actual/365, late fee calculation, amortization schedules, and borrower communications. A dashboard provides visibility into loan status, payment schedules, and delinquencies. Add-on modules extend the system with ACH and credit card processing, escrow/impound accounts, escrow analysis, e-signature, a white-labeled borrower portal, and multi-lender/investor tracking with an investor portal. Bryt does not include a loan origination system; origination workflows require a third-party platform connected through its API.Pros
- Business version can be implemented in less than 30 minutes
- Has wide range of add-on modules for extra functionality
- Supports several different lending services
Cons
- Number of included active users is limited
Target Market
Private and commercial lenders, specialty finance companies, CDFIs, consumer lenders, equipment finance companies, and other organizations that service loans.Bryt Software Features
Loan Tracking
- Automates calculations to eliminate errors
- Enables visibility of payment statuses
- Generates professional statements, notices, and letters
- Offers real-time detailed accounting access for each loan
Loan Servicing
- Automates and streamlines loan servicing tasks
- Supports various loan products, including installment, secured, and lines of credit
- Accommodates multiple loan types like term, revolving, and pool
- Automates ACH payments, late fees, and NSF processing
- Includes lender and borrower portals with real-time reporting
- Allows flexible configuration of services, fees, and charges
Loan Origination
- Provides automation tools for credit assessment, approval, and loan funding
- Displays complete loan pipeline in real-time
- Centralizes creation, uploading, and storage of loan documents
Add-On Modules
- Custom User Field Module: Create unlimited custom fields within the Bryt system for loans and borrowers
- Custom Documents Template Module: Create custom document templates using MS Word and Bryt merge fields
- Impound/Escrow Module: Collect and pay property taxes, insurance, and other expenses on behalf of borrowers
- Asset and Insurance Tracking Module: Maintain a record of assets. Notification of insurance policy expiration and tax payments due
- Lender Service Fee Module: Collect one-time or recurring fees and designate who receives the proceeds
- Borrower Portal Module: Private-labeled portal for your borrowers to make payments and manage their account
- Data Import Module: Bulk import contacts, loans, payments and more
Bryt Software Pricing
The cost of Bryt Software starts at $59/month for the business version (base product, 1 user). New users can be added for an additional monthly fee. The professional version starts at $130/month, and the enterprise version starts at $500/month. There is a free trial available.
Starting Price
$59
/month
Price Range
Learn More
$ $ $ $ $
$ $ $ $ $
Product Overview
Developer Overview
User Reviews of Bryt Software
Write a Review
Mitchell W. Vicknair
Overall
★★★★★
Bryt Software Review
April 21st, 2020
• Roles: Purchaser & End User
Your software works great and has significantly lowered our servicing costs. Your staff is always very helpful and patient… thanks again for making my life easier.
Tim Graham
Overall
★★★★★
Bryt Software Review
April 21st, 2020
• Roles: Purchaser & End User
User friendly, customer support is always available, covers all lending aspects plus more than I can even use. Ease of use is amazing and the price is unbeatable
