The LoanPro Store

New Feature: In a release update, we added the LoanPro Store to LMS.

Complexity:    

Audience: Upper Management, Admin, Accounting

Introduction

At LoanPro, we're always updating and upgrading our software to provide you with the best possible servicing core. Generally, these updates roll out into production with no additional price to customers—you continue paying your normal rates, and the software does more for you. But some features do come with an additional cost. This is often because they are resource intensive, cost LoanPro money to offer, or are very specialized to specific lenders or niche lending types. We won't increase your costs without warning. The LoanPro Store gives you options to purchase premium features for use within LoanPro.

What is the LoanPro Store?

The LoanPro Store is an area of the software where you can add loan servicing tools. To reach the store, log into LMS and click on your user icon in the top right corner of the screen. Then go to Account > Contract & Pricing > LoanPro Store.

There you'll see a list of all the available add-ons. Initially, this only includes Premium Webhooks, but we'll be adding more soon. If you click on the 'See More' button, you'll get a summary of what the upgrade does and how much it will cost.

When you're ready to upgrade, just click the 'Get' button. This will generate a contract that you can fill out and submit in your browser. Once the contract is submitted, the premium feature will be turned on within your account. You will now be able to use the feature.

Premium Webhooks

Webhooks are a software tool that lets one system communicate with another by sending a bundle of information over the internet when its triggered by a certain event. For example, you might set up a webhook that goes from LMS to your own custom application whenever a payment is made or a Clojure rule is met.

Premium Webhooks offer more control over the format and content of the information that gets sent. This can help you match the formatting for third parties, enhance your security, and even change the type of task that's performed with each webhook, like deleting or modifying information instead of just logging something new. Each Premium Webhook you send will cost just two cents ($0.02 USD).

For more information, check out our article Notifications – Webhooks.

This Feature is Not

Let's take a second to clear up any possible misunderstandings:

  • The upgrades in the LoanPro store are optional. We implemented the LoanPro store because our existing contracts do not include any agreement to some of the new and powerful servicing tools that we want to release with a small cost. Using the store to let you upgrade as you see fit, respecting your contract while putting these options on the table for you. If you've joined LoanPro after some of these premium tools were launched, you might have had them included into your initial contract, and there won't be a need to upgrade.
  • LoanPro will continue to make free updates to the software. Don't worry, we're not putting all our new updates behind a paywall. We'll continue to update the software for free—fixing bugs, improving processes, and creating new features. Premium features are add-ons that won't impact what you already have, like the dessert menu at the end of a meal.

What's Next?

From here, you may be interested in other articles about Billing, the Pricing Table, or Saving a Copy of Your Contract.

Or if you want to learn about Premium Webhooks specifically, check out our article Notifications – Webhooks.


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