Bryt

4.8 (18)
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FULL-FEATURED LOAN SERVICING SOFTWARE

About Bryt

Bryt is a loan management system for lending professionals which offers tools for loan origination, loan servicing, document creation and storage, trust accounting, payment processing, and more. The cloud-based tool caters to a range of different loan types including term, non-revolving, commitment, and more, and offers web portals got both borrowers and lenders to manage their accounts in a self-service manner.

Designed to aid lenders in managing their accounts and customers, Bryt automates tasks, manages compliance, provides real-time reporting, and offers custom configuration to suit business needs. Businesses can configure their own loan documents, outline procedures, setup custom fee structures, and more in order to make the Bryt system work seamlessly with current business workflows. Tasks such as document creation, client notifications, ACH payment processing, and more can be automated, and communication between lenders and borrowers is enhanced through in-built messaging and the ability to share documents.

Bryt facilitates loan servicing with tools for managing an unlimited number of loans and viewing loan summaries, repayment schedules, related documents, properties, fees, notices, and more, all within the loan file. Multiple loan products can be managed within Bryt including installment loans, mortgages, secured loans, lines of credit, and more, with the ability to setup custom repayment schedules for each client. Late fees can be calculated and processed automatically, and dated payments can be automatically removed. The Bryt loan origination tools aid lenders in approving loans and creating pipelines, and the trust accounting module allows users to manage escrow and impound trust accounts and reconcile trust accounts to bank statements.


Key benefits of Bryt

  • Manage loan servicing within Bryt with tools for managing tasks such as late fee processing, payment application waterfall creation, ACH payment processing, service fee configuration, policy monitoring, and more.

  • Use the Bryt loan origination tools to approve and fund loans within the dashboard which shows the entire loan pipeline and allows users to create tasks and assign them to employees.

  • Manage escrow and impound trust accounts, real estate transactions, impound trust accounts, and borrower-deposited funds within the trust accounting module, and reconcile trust accounts to bank statements.

  • Gain insight into return on investment, servicing history, loan status’, transactions, and more with the reporting and analytics suite, and schedule reports to run automatically at daily, weekly, or monthly intervals.

  • Create and store documents within the Bryt platform and send them to clients for review and approval. All documents can be customized and stored within the platform, within the related loan file.

  • Images

    Bryt Software - Bryt Software Dashboard
    Bryt Software - Loan Summary Page
    Bryt Software - Loan Schedule Page
    Bryt Software - Contact Management
    Bryt Software - Configurable Notices
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    Bryt video
    Bryt video
    Bryt Software - Bryt Software Dashboard
    Bryt Software - Loan Summary Page
    Bryt Software - Loan Schedule Page
    Bryt Software - Contact Management
    Bryt Software - Configurable Notices

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    Integrations

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    Reviews

    Overall rating

    4.8 /5
    (18)
    Value for Money
    4.7/5
    Features
    4.5/5
    Ease of Use
    4.6/5
    Customer Support
    5/5

    Already have Bryt?

    Software buyers need your help! Product reviews help the rest of us make great decisions.

    Showing 5 reviews of 18
    Ron
    Overall rating
    • Industry: Financial Services
    • Company size: 2–10 Employees
    • Used Daily for 2+ years
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 10.0 /10

    Bryt Review

    Reviewed on 2021/06/11

    It has been a great experience. The system was very easy to implement and the customer service has...

    It has been a great experience. The system was very easy to implement and the customer service has been terrific. I have recommended others to use the system as well and will continue to do so.

    Pros

    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.).

    Cons

    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.

    Mike
    Overall rating
    • Industry: Real Estate
    • Company size: 2–10 Employees
    • Used Daily for 1+ year
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 10.0 /10

    BRYT's software and team have been valuable to our company to help us scale efficiently!

    Reviewed on 2021/09/01

    We have used BRYT for almost 2 years now. BRYT has been extremely valuable for our company. It has...

    We have used BRYT for almost 2 years now. BRYT has been extremely valuable for our company. It has been an essential piece that has helped us be more efficient and scale our operation, while also delivering great value to our customers. The team at BRYT has been excellent to work with. They are helpful, easy to work with, and very responsive. They are happy to talk with us if we encounter any obstacles, have questions, and have worked with us continuously to customize their product so it fits what best serves our customers.

    BRYT continues to make great changes and we know there are even greater things ahead - we highly recommend the BRYT platform and the team behind it!

    Pros

    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!

    Cons

    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!)

    Kali
    Overall rating
    • Industry: Real Estate
    • Company size: 2–10 Employees
    • Used Daily for 1+ year
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 5.0 /10

    Great software with a few places to improve.

    Reviewed on 2018/11/26

    Overall this software is great! After a little bit of a learning curve (maybe just me), and some...

    Overall this software is great! After a little bit of a learning curve (maybe just me), and some help from the team, you'll be up and running and having no issues in no time.
    Thanks to Rep and the entire Bryt software team!

    Pros

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

    Cons

    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. :)

    Nathan
    Overall rating
    • Industry: Government Administration
    • Company size: 11–50 Employees
    • Used Daily for 1-5 months
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 9.0 /10

    Bryt software saved the day!

    Reviewed on 2021/08/23

    My experience has been great! There was no pressure from a sales team, the development folks were...

    My experience has been great! There was no pressure from a sales team, the development folks were willing to tweak and customize the software for our needs and everything is running smooth! Most importantly, I feel like my questions and concerns were heard timely and solutions rendered in real time....I feel like the team at Bryt is an extension of my team...

    Pros

    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.

    Cons

    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.

    Marsha
    Overall rating
    • Industry: Real Estate
    • Company size: 2–10 Employees
    • Used Daily for 2+ years
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 10.0 /10

    This software makes the Loan Servicing process very easy and timeless.

    Reviewed on 2018/07/24

    I've been using this software for about 2 years and all of its features have allowed me to cut...

    I've been using this software for about 2 years and all of its features have allowed me to cut Loan Servicing and Document Processing portion of my job time in half. Actually more then half.

    Pros

    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.

    Cons

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

    Showing 5 reviews of 18 Read all reviews

    Bryt FAQs

    Below are some frequently asked questions for Bryt.

    Bryt offers the following pricing plans:

    • Starting from: US$59.00/month
    • Pricing model: Subscription
    • Free Trial: Available

    BUSINESS versions - up to 20 active loans- start at $59/month (45 days free trial available) PROFESSIONAL version - unlimited active loans - start at $130/month for 1 user (45 days free trial available) ENTERPRISE version - Unlimited loans - Start at $500/month, access to Custom Reporting and API

    Bryt has the following typical customers:

    Self Employed, 2–10, 11–50, 51–200, 201–500, 501–1,000, 1,001–5,000

    Bryt supports the following languages:

    English

    Bryt supports the following devices:

    We do not have any information about what integrations Bryt has

    Bryt offers the following support options:

    Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, Chat

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