[temuze]

For LMS, we use LoanPro: https://loanpro.simnang.com/

Canopy is a recent new entrant: https://canopyservicing.com/

Using a vendor for LMS added some complexity (integration is a pain, idempotency is a concern, etc), but it helped us focus on things that differentiate our business. We certainly wouldn't have launched five months after founding without one.

I've talked to some startups that built an in-house LMS. The moment a payment reverses or someone backdates a payment or they backdate a loan change or modify a due date... they have big problems.

> We've had investors ask why Pipe doesn't just do this and we respond with, because it's a just a different beast.

Next time they ask, ask them why Google's VC branch doesn't just take their deals :)

It's astonishing to see how some investors don't realize how deep of a field lending is.

> We're trying to avoid lock-in mechanisms like ROFRs and warrants. The product is either efficient and founder friendly, or it is not.

Nice. Godspeed!

[sails]

Do you think Loanpro or Canopy cater for below issues? I've worked with teams who built in house and smashed into those issues. Very complex. Ncino seems to possibly be viable, but is too generic and broad.

> I've talked to some startups that built an in-house LMS. The moment a payment reverses or someone backdates a payment or they backdate a loan change or modify a due date... they have big problems.

Edit: do you think Loanpro or Canopy are viable for larger longer term loans? +$1m +3yr type cashflow lending?

[temuze]

They're probably viable for that.

Peach Finance is another option that came out recently: https://www.peachfinance.com/