Note servicing software for people who service their own notes.
A servicing company charges per loan, per month, and puts itself between you and your borrower. On a big enough book that trade makes sense. On a small one you are mostly paying to be kept at arm's length from your own buyers. Lendiom is for the investors who want the process to run itself without giving up the relationship.
Everything a servicer does, without the servicer
Accurate amortization
Standard, daily accrual, or interest-only. Already have notes in flight? Enter where they stand and Lendiom picks up from there instead of making you start over.
A real borrower portal
Borrowers log in to Lendiom Pay to see their balance, payment history, and next due date, and pay by ACH or card, or enable auto-draft.
Every payment accounted for
Online, cash, check, wire, money order. Each one shows exactly how it split across interest, principal, fees, and escrow. Reversals and adjustments carry a reason, so the history still makes sense a year later.
Automated borrower contact
Reminders, receipts, and late notices go out by text and email on their own, in English or Spanish. Payoff statements and physical letters, including certified mail, go straight from the app.
1098s without the January panic
Lendiom builds each 1098 from the interest it has tracked all year and submits it for e-filing through our IRS-authorized filing partner. That is $10 per form, which covers the filing and mailing your borrower's copy.
Reports your CPA will like
Installment income, transaction lists, journal entries, 1098 data, client lists, portfolio and payments summary. Twelve reports in all, run on demand as formatted Excel workbooks, or scheduled to arrive in your accountant's inbox every month.
Flat-rate note servicing, not per-loan fees
Lendiom is $50/month, or $600/year, with 100 active loans included. Not a per-loan servicing fee that grows every time you close a deal. Bring your team too: multi-user access with role-based permissions is built in.
Also see owner financing software and land contract and contract-for-deed software.