Q: I wish to change from my current loan servicing platform to Margill Loan Manager. Can I import my existing loans or will I have to enter these one by one? A: Mass import can be done easily with simple spreadsheets (Excel). You can import: Borrower data Creditor data Employer data Basic loan information (loan […]
After a two-year process, Margill Loan Manager 5.0 is now available for download! A new look, but without changing the way you work, a host of new features to make your lives even easier. See the Release Notes: https://www.margill.com/en/margill-loan-manager-release-notes. To download go to https://www.margill.com/get Stay tuned for our 20 minute Webinar on what’s new in 5.0 for […]
Margill Loan Manager latest version 4.4 and upcoming version 5.0 – Release notes (new features) now available on our web site. See www.margill.com/en/margill-loan-manager-release-notes
Q: How can I enter multiple payments and advances in a loan without having to enter them one by one? I have over 100 in one loan. I have the data in Excel. A: Very easily, in seconds with a simple 4-column Excel sheet. Go to Tools > Post Payments. On the top of the […]
Q: Can Margill software be used for HOA (Home Owners Association) collections along with the interest calculation? A: Yes, very easily without needing an agency to do these calculations. Many law firms and accountants are tasked with collecting HOA assessments and find it time consuming with a risk or error when this is done by […]
Question: I have a question regarding interest accruing on unpaid payments. We have a franchise that is working on their cash flow right now and we wanted to give them an updated statement on what is owed to us for their franchise loan. How can I see interest that accrued on unpaid payments? So for […]
Margill prefers a date format that contains 4 digits for the year. This is especially important for calculations that may (if these still are out there!) predate the year 2000. How to change the Windows Short date format: Windows 10 gives you various ways to change the short date format (Control Panel or Settings) 1) […]
Margill Loan Manager – Can we email an amortization report to each borrower when interest rates change? Yes this can be done. First, I guess you updated the interest rates though the Main window with Ctrl Alt Shift i. Ideally you have a custom field that identifies the loans that are tied to the specific […]
Darren Gold, VP at UnitedLex Corp., wrote an interesting article about the London Interbank Offer Rate (LIBOR) which is used all over the world as the reference for a great number of loan contracts. The UK’s Financial Conduct Authority recently declared that it would no longer require banks to submit the data that enabled LIBOR […]
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, […]