Your whole loan book, managed on one AI-native system

A loan origination system (LOS) runs a loan up to funding: the application, document collection, underwriting and the credit decision. A loan management system (LMS) takes over once the loan funds: it records the loan's terms, tracks payments and balances, and keeps portfolio and investor reporting current. Most lenders run the two as separate systems and re-key each loan between them. Sphera Credit runs both on one platform, so the terms, documents and figures gathered at origination carry over to the funded loan, and AI agents service it from the same records.

When a loan funds in Sphera Credit, its terms carry over from origination. AI agents also read the promissory note and the mortgage or loan agreement and record each term: interest rate, payment schedule, maturity date, fees, late charges, prepayment terms, covenants and conditions. Each term points to the page it came from, so the lender's team can check it against its source.

Yes. Loans managed in another system are boarded the same way, from their documents or from an export of the system they sit in today, so the whole portfolio lives in one place. Sphera Credit's team runs the migration with the lender as part of the implementation.

A lender can collect payments through Sphera Credit, by pre-authorized debit (PAD/EFT) in Canada or ACH in the United States, or keep collecting through its bank or core banking system. Either way, Sphera Credit applies each payment to the loan's schedule and keeps the balance and payment history current. A missed or short payment is flagged to the lender's team and handed to the servicing agents, who follow up with the borrower.

Yes. Sphera Credit produces a payoff statement for any date the borrower or the lender's team chooses, with the outstanding principal, the per diem interest to that date and any fees the loan's terms allow. The lender's team approves every payoff.

Yes. The lender's own team sets up each loan product in Sphera Credit, with its fees, payment schedule and late-charge rules, and changes them without developers.

Yes. A loan can have several investors, each with its share recorded. Sphera Credit tracks each investor's share of every payment and the distributions owed to them, for mortgage investment corporations (MICs) and syndicated private mortgages in Canada, and for loan participations in the United States.

Yes. Each construction loan carries its approved budget, line by line, with the amounts drawn and still undrawn, and the holdback in Canada or the retainage in the United States. When the borrower requests a draw, the servicing agents reconcile the invoices and the inspection report against the budget and prepare the draw for the lender's approval.

Yes. Sphera Credit prepares capital partner reporting from the lender's loan data. That includes loan tapes for warehouse lenders and note buyers in the United States, and investor statements for mortgage investment corporations (MICs) in Canada. The lender's team reviews each report before it goes out.

Yes. After funding, borrowers sign in to the same white-labeled borrower portal they applied through and see their balance, their payment history and their loan documents. Questions and requests they send go to the servicing agents or to the lender's team.

Each term recorded at boarding points to the page of the note it came from, and every agent run is recorded step by step, so an examiner or auditor can trace a figure back to its source. Role-based permissions, single sign-on and multi-factor authentication limit who can view or change a loan. For Canadian lenders, data stays in Montreal. For US lenders, it stays in the United States.

No. Banks and credit unions keep their core banking system: Sphera Credit connects to it for deposits and the general ledger. For a lender that needs it, Sphera Credit can also rebuild the core ledger. Non-bank lenders can run their whole loan book on Sphera Credit.

It depends on the size of the loan book and the systems the lender already runs. Every implementation starts with an on-site assessment: Sphera Credit's team reviews the lender's systems and the integrations between them, maps its business processes and proposes new AI-native ones. The team then implements those processes on the Sphera platform, which covers boarding the existing loans, connecting the core banking or accounting systems and managing the change with the lender's team.

Working with Sphera Credit starts with a conversation about the lender's current processes and systems. Sphera Credit then quotes an on-site assessment, in which its team reviews the lender's systems and the integrations between them, maps the lender's business processes and proposes new AI-native ones. If the lender goes ahead, Sphera Credit's team implements those processes on the Sphera platform with the lender's team.

Sphera Credit pricing is tailored to each lender and has three parts: the on-site assessment, the implementation and an ongoing platform fee. Sphera Credit quotes the assessment on its own and bills it hourly, and the lender decides afterwards whether to implement the platform. The implementation is also billed hourly, because Sphera Credit's team works on site with the lender on the technical setup and change management. The platform fee is outcome-based: it follows the loan volume on the platform, so it scales with the size of the lender's operations.