Bryt

Vorteile

Ease of use, intuitive, myriad useful functions, and fantastic tech support.

Vorteile

This software is perfect for our needs. We mainly focus on Property Management, so we were looking for a product that track our loans that we hold and produce year end statements and tax documents. And Bryt has checked all the boxes!

Nachteile

Nothing bad to say about it, so far it has met our needs.

Vorteile

I love the automated features (sending notices, invoices and receipts for payment). There are several great things about this system that are very useful.

Nachteile

1.) Report writer needs work. With this being said, however, whenever I have a problem, customer support ALWAYS is there to help and create the report, or if they can't create the exact report that I need, they come up with a solution that works!
2.) No help section - if it is after hours or a different time zone, there is no one to offer support or any help whatsoever. Again, this is only when work is being done outside of the normal office hours for Bryt customer service.
3.) Takes some getting used to. Although I am new the mortgage software field. I have done property management for over 15 years, and then we switched to mortgages. So that may be my fault.
4.) No direct mortgage holder option. If you are not the "Servicing Company" of the loans, set up is a bit tricky and takes some getting used to. In my case, I have 1 individual who has mortgages under 4 different companies. This get's complicated when writing reports, letters, or notices, that are mortgage holder specific, but as always, rep and the team have always figured out a way (sometimes even changing the way the software is written) for me to get the information I need. :)

Vorteile

As a hard money lender, most of the features with other software companies don't apply to us, but are hard-coded and cannot be removed from the program. The Bryt team literally created our perfect system!

Nachteile

Our only con was that our previous Bryt contact left the company, BUT our new rep immediately picked up where he left off!

Vorteile

The loan pipeline dashboard is probably one of my favorite features within the product. Our management team holds a weekly call to discuss the origination pipeline and the dashboard makes it extremely easy to not only discuss the individual loans but also see what stage/process the loan is currently sitting as well as seeing the financial aspects (loan amount, closing date, funding amount, etc.).

Nachteile

I would like to see an expanded borrower pipeline similar to the loan pipeline dashboard that could track the stage of the borrower's application (i.e. missing docs, status of credit check, status of background check, etc.) as they progress through underwriting ultimately to an approval or denial.

Vorteile

I appreciate the ease of use, it is intuitive and has all the essential functions our firm needs. We do not offer traditional loans, we issue project specific loans, a little out of the ordinary and Bryt's solution was able to adapt. The implementation and onboarding team were and are a great resource and I feel like I can reach out any time and receive a response within a day.
We don't use many of the features, such as late payment calcs, loan origination, or qualification segments, so I cannot comment about more complex loan scenarios.

Nachteile

One issue is some of menus are buried and there is no active grid view where I can just enter manual payments for borrowers on one screen. Automatic payments will negate this need.

Vorteile

Loan servicing and reporting
Creating disbursements to investors
ACH/Nacha works wonderfully!
Payment reminders and statements are great
The staff is awesome and very helpful!

Nachteile

Would love to see:
- e-signature integrated
- More security features / upgraded
- More loan application/origination features

(Some of these items I know they are currently working on!)

Vorteile

We really like how easy is the software to use. Impecable customer service

Nachteile

We would like to have a borrower management option more completed. Borrowers should have the option to see their loans history and not only payment options

Vorteile

I Love the Loan Document Feature. Makes processing Loan Documents very simple and quick. I also love the automated notices that are sent from the software. Customer Support is always available to answer any questions relating to any section of the software.

Nachteile

Still have a few questions on Mandatory reports for specific filings. For Example BRE required reports.

Vorteile

The customer support from the Bryt team during the implementation phase was excellent and we got it up in no time.

The software is very easy to use and navigate.

The automation of critical features has made our processes a breeze.

Nachteile

No major issues encountered with the software to this point.

Vorteile

The customer support was superb. Before I committed to the product, the team answered all of my questions. After I made the decision to purchase, the set up was quick, and I was able to go live with the product within 2-3 weeks without any issues. The few times I needed additional help with the product, the team got back with me immediately and were extremely helpful. I truly have enjoyed the customer service. It made for a flawless and stress free transition.

Nachteile

I would like to be able to print out invoices, schedules, etc. Currently, you can print them using the generic screen print option, but it's not an option built into the software. The software is paperless, which has its advantages. Notices, payments, schedules, etc are emailed automatically to clients.

Vorteile

It does everything I need to manage my loan portfolio and I am in control. I now spend less time than I did when we had a 3rd party servicer because I no longer have to correct their mistakes.

Nachteile

The conversion was the hardest part but there is nothing that can be done about that. The customer support has been very responsive to our needs. Every time I find something that could be improved, I call customer support and they fix it.

Vorteile

For a company that is not in the loan servicing industry, this software has definitely helped make tracking our loans a lot easier. The amortization schedule is key to tracking payments and communicating with borrowers on next payments due. There have definitely been some hiccups but customer service has been very efficient with their responses and fixing any bugs.

Nachteile

Currently the program isn't very flexible when it comes to recording payments. If you need to edit a past payment you have to delete each succeeding payment before you can make the edit.

Vorteile

User friendly, customer support is always available, covers all lending aspects plus more than I can even use

Vorteile

Easy to use loan software and exactly what I was looking for. Excellent and responsive customer service. User-friendly. Has all the features I need and then some.

Nachteile

Would be nice to be able to send notices on demand vs. just auto or off.

Vorteile

What I like the most about Bryt, is that it is user-friendly. Everything is clean and straight forward. It didn't take long to learn how to navigate.

Nachteile

The only complaint I have is that it doesn't work as well on Safari. I use Safari as my main browser so when I use Bryt I have to change to google chrome. It's not a big deal.

Vorteile

Everything is consolidated in one application. And they customized the application to fit my needs.

Nachteile

The leaning curve. But that is overcome with time and a great support staff. They take as much time as necessary to teach you how to use the application.

Vorteile

It is very user friendly; customer service is awesome and very responsive, ease of setting up loans and posting payments via NACHA.

Nachteile

not enough functionality, ex. report writer, customer over payments when closing a loan, can delete pay periods but not add them

Vorteile

The software is very easy and intuitive to use. It's also significantly cheaper than the competitors.

Nachteile

Would like the ACH process for borrower payments to be totally automated. I understand that feature in the development pipeline.