Free Resource
The LMS Evaluation Checklist Built for Installment Lenders
Don’t guess your requirements. This checklist is built from 40+ years of questions installment lenders have asked us, refined and expanded for today’s evaluations, so you can assess compliance, workflow, and scalability before you commit.
Choosing a Loan Management System is the most consequential technology decision your lending business will make. Whether you’re a startup launching your first 500 accounts or an enterprise managing a multi-state portfolio, your evaluation needs to be precise — and it needs to focus on what actually matters at your scale.
We’ve distilled that experience into a practical, question-by-question checklist that helps your team compare vendors on what actually determines success:
- Compliance & credit reporting: Metro 2 bureau reporting, SCRA/MLA, state lending rules, audit trails, and OFAC screening.
- Servicing, collections & accounting: Payment processing, delinquency management, and real-time GL and reconciliation.
- Implementation & cost: Conversion timelines, training, test environments, pricing model, and contract terms.
Each question includes space for the vendor’s response, your reviewer notes, and a 0–5 score, so you can compare vendors side by side.
Get the LMS Vendor Evaluation Checklist
Free, practical, and built by the team that has supported installment lenders since 1981.