Entries by Marc Gelinas

Predatory Lending Practices: How “Confession of judgment” documents turned New York’s court system into a debt-collection machine…

How an obscure legal document called a “Confession of judgment” turned New York’s court system into a debt-collection machine that’s chewing up small businesses across America. Source: Bloomberg, November 20, 2018 Story by Zachary R. Mider and Zeke Faux Although not allowed in most states, a “confession of judgment” signed by the borrower allows a creditor, without proof, […]

Can Margill Loan Manager be used to manage rentals (rent)?

Question: Our company does loans and rentals. Can Margill Loan Manager be used to manage rentals (monthly rents)? Answer: As strange as this may sound for a loan servicing software, yes Margill Loan Manager can manage rentals. The difference between a loan and a rental is that loans begin with a principal amount borrowed that […]

A little banking humor! His name was Boudreaux…

His name was Boudreaux. He was from Cutoff, Louisiana … and he needed a loan, So……..  He walked into a bank in New York City and asked for the loan officer.  He told the loan officer that he was going to Paris for an International Cajun festival for two weeks and needed to borrow $5,000, and that he was not a […]

Importing batch payments in Margill Loan Manager (CSV, Excel)

Question: Our company collects weekly (bi-weekly or monthly – no matter) payments drawn directly from their bank accounts in some cases and in others as payroll deductions. We receive CSV files from the bank and processors. Can these transactions then be imported back to Margill Loan Manager? Answer: As you guessed, since I blogged this, […]