LoanAssistant vs. OpenClose Comparison


LoanAssistant Integrated Accounting Solutions	OpenClose	+	+
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About LoanAssistant is a powerful and versatile loan amortization software developed by a dedicated team of successful accountants, software developers, and bankers. The solution is the only loan servicing add-on for QuickBooks that enables users to seamlessly manage multiple loans and credit lines. With Loan Assistant, loan data easily shows up to QuickBooks without double entry. The loan management feature of LoanAssistant covers various segments of the lending industry such as residential and commercial mortgages, education loans, motor finance, construction loans, installment sales and others. Our sophisticated Investor Participation module simplifies managing external/internal loan investments tracking/accounting, processing, and reporting. Accrual Accounting option available. Stand-alone option available. Borrower side servicing available. No limit/additional charges on number of loans/accounts/transactions/borrowers/lenders. No additional hardware required. Annual subscription.	About Whether you close 50 loans per month or 5,000, our LOS and its native mobile app allow your Loan Officers to enhance efficiencies and reduce costs. With OpenClose, you’ll open smarter and close faster! The OpenClose LOS, LenderAssist™, solves the challenges banks, credit unions and mortgage lenders have with today’s other commercially available loan origination systems. The result? More and more banks, credit unions and mortgage lenders are turning to OpenClose than ever before. OpenClose understands that you operate your mortgage business in a profit-pinched, regulatory-intense environment and that you need a mortgage LOS that helps you address these challenges and surpass expected ROI. That’s why we designed our software as a 100% browser-based, end-to-end, omnichannel solution that:
Platforms Supported Windows Supported Mac Not Supported Linux Not Supported Cloud Not Supported On-Premises Not Supported iPhone Not Supported iPad Not Supported Android Not Supported Chromebook Not Supported	Platforms Supported Windows Supported Mac Not Supported Linux Not Supported Cloud Supported On-Premises Not Supported iPhone Not Supported iPad Not Supported Android Not Supported Chromebook Not Supported
Audience LoanAssistant serves accountants, hard-money lenders, note servicers, bankers, cities, municipalities, private lenders, credit unions, and more.	Audience Lenders in need of a Loan Origination solution
Support Phone Support Supported 24/7 Live Support Not Supported Online Supported	Support Phone Support Supported 24/7 Live Support Not Supported Online Supported
API Offers API Supported	API Offers API Not Supported
Screenshots and Videos View more images or videos	Screenshots and Videos View more images or videos
Pricing $999 Starting at $999 No limit/additional charges on number of loans/accounts/transactions/borrowers/lenders Free Version Not Supported Free Trial Supported	Pricing No information available. Free Version Not Supported Free Trial Not Supported
Reviews/Ratings Overall 5.0 / 5 ease 5.0 / 5 features 4.8 / 5 design 4.6 / 5 support 5.0 / 5 Read all reviews	Reviews/Ratings Overall 0.0 / 5 ease 0.0 / 5 features 0.0 / 5 design 0.0 / 5 support 0.0 / 5 This software hasn't been reviewed yet. Be the first to provide a review: Review this Software
Pros & Cons from Real Users Pros Easy to use and customize for our in-house loan servicing. Constant updates. Great integration w/ QB. I have used this software for our four QuickBooks companies. The program is easy to use and you can figure out most things by yourself, but there is a robust support available if needed. Participation module rocks! QuickBooks integration is a gem for my business!! As an accountant and systems analyst, this program is the best I've used so far. The best thing about it is that it is capable of calculating installment gains. It connects directly with QuickBooks, so no need to transfer data, it's all automatic. We service our own loans for hundreds of properties so this is perfect! Loan assistant is also quickly responsive with any questions or new capabilities to suit our needs. It's capable of creating custom reports too! We have been using this software since 2016. It does exactly what we need; constantly growing functionality and options. Having QuickBooks integration saves a lot of effort and money as we have limited accountant involvement. Handles many types of loans and provides ability to customize multiple reports, which worked very well with our several business lines. Fixed price, no additional pricing based on features or volume. Works on any PC, no additional software or hardware needed. Reasonable price is great for the value. You will have the ability to board your loans, tract payments, send 1098s etc in a professional way with Loan Assistant. The seamless integration with QuickBooks makes this software extremely powerful and reduces the amount of time it takes to tract and input loan payments. The reports are top notch and will give you a snapshot of your portfolio in an instant. Each report is customizable and allows you to view the information that is most important and critical to your business. I would highly recommend Loan Assistant! Cons Does not have "fancy" dashboards, etc. Haven't tried with QB online. No automatic updates, no ACH built-in, no web portal. They won't give me the password to the database 😁 No direct ACH module – we have to use QuickBooks functionality No mobile app as of time of writing. N/A.
Training Documentation Supported Webinars Supported Live Online Supported In Person Not Supported	Training Documentation Not Supported Webinars Not Supported Live Online Supported In Person Not Supported
Company Information Integrated Accounting Solutions Founded: 1999 United States www.iasolutions.info/	Company Information OpenClose Founded: 1999 United States www.openclose.com
Alternatives Mortgage Automator	Alternatives Mortgage Cadence
ABLE Platform	MeridianLink Mortgage MeridianLink
MORSERVw Butler & Associates	Mortgage+Care Consulting Plus
LoanShark Data Designs	LendingPad
LOAN SERVICING SOFT View All	Encompass ICE Mortgage Technology View All
Categories Accounting Supported Finance Supported Loan Management Supported Loan Servicing Supported Mortgage and Loans Supported Real Estate Supported	Categories Loan Origination Supported Loan Servicing Supported Mortgage and Loans Supported
Loan Servicing Features Accounting Management Supported Amortization Schedule Supported Application Management Supported Auto Loans Supported Automatic Funds Distribution Supported Business Loans Supported Collateral Tracking Supported Collections Management Supported Compliance Management Not Supported Construction Loans Supported Customer Database Supported Fee Management Supported Investor Management Supported Loan Processing Supported Student Loans Supported Mortgage and Loans Features Amortization Schedule Supported Client Database Supported Closing Documents Not Supported Commercial Mortgages Supported Contact Management Supported Credit Reporting Not Supported Customer Statements Supported Document Management Supported Electronic Applications Not Supported Government Loans Supported Loan Origination Not Supported Loan Servicing Supported Pipeline Management Not Supported Pre-Qualification Not Supported Refinance Management Not Supported Residential Mortgages Supported	Loan Servicing Features Accounting Management Not Supported Amortization Schedule Supported Application Management Not Supported Auto Loans Supported Automatic Funds Distribution Not Supported Business Loans Supported Collateral Tracking Not Supported Collections Management Not Supported Compliance Management Not Supported Construction Loans Supported Customer Database Not Supported Fee Management Not Supported Investor Management Not Supported Loan Processing Supported Student Loans Supported Mortgage and Loans Features Amortization Schedule Supported Client Database Supported Closing Documents Not Supported Commercial Mortgages Not Supported Contact Management Supported Credit Reporting Supported Customer Statements Not Supported Document Management Supported Electronic Applications Supported Government Loans Supported Loan Origination Supported Loan Servicing Supported Pipeline Management Not Supported Pre-Qualification Supported Refinance Management Not Supported Residential Mortgages Supported Show More Features Loan Origination Features Amortization Schedule Supported Audit Trail Not Supported Closing Documents Not Supported Compliance Management Not Supported Customer Database Not Supported Digital Signature Not Supported Document Management Not Supported Fee Management Not Supported Loan Processing Not Supported Online Application Not Supported
Integrations Charge-off Loan Tracker Not Supported CompenSafe Not Supported DocVu.AI Not Supported Kinective Bridge Not Supported Microsoft 365 Supported Microsoft Access Supported Plaid Not Supported QuickBooks Accountants Supported QuickBooks Cash Supported QuickBooks Commerce Supported QuickBooks Desktop Premier Supported QuickBooks Desktop Pro Supported QuickBooks Enterprise Supported QuickBooks Online Supported Surefire CRM Not Supported Show More Integrations View All 9 Integrations	Integrations Charge-off Loan Tracker Supported CompenSafe Supported DocVu.AI Supported Kinective Bridge Supported Microsoft 365 Not Supported Microsoft Access Not Supported Plaid Supported QuickBooks Accountants Not Supported QuickBooks Cash Not Supported QuickBooks Commerce Not Supported QuickBooks Desktop Premier Not Supported QuickBooks Desktop Pro Not Supported QuickBooks Enterprise Not Supported QuickBooks Online Not Supported Surefire CRM Supported Show More Integrations View All 6 Integrations
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