What is #1 Loan Servicing Software in the World?

Very interesting question, but is there an answer?

Being number 1, being the Top is the ultimate goal for many… The ultimate achievement… The Gold medal!

We hear this in political speeches: we are the BEST, we are the GREATEST, never in the history have we been SO GREAT…

Vying to be Number 1 is also true for loan solution providers.

I thought I would write this article since I came across, simply by surfing the web and checking out other loan tech companies’ websites, that at least three companies have the #1 lending technology. Congratulations to all of you!

# 1 is taken three times so I guess this means Margill Loan Manager is the BEST, the GREATEST #2 software solution out there?

There are many good, even great loan software out there and many not-so-good ones that say they can do just about everything… but none can really. In the end, when you are looking for loan servicing software, what’s important, is that the solution fits your own special needs and that customer support is there for you.

PS: No hard feelings #1s…

Marc Gelinas, CEO
Margill Solutions

Your Credit Score May Soon Change. Here’s Why.

Your credit score — that all-important passport within the financial world — may be about to change. And it won’t necessarily be because of anything you did or didn’t do.  Read this article by Tara Siegel Bernard 

Margill Loan Manager 5.1 soon to be released – Release Notes available

Margill Loan Manager 5.1 will be released later in January or early February. Consult the Release Notes.

Margill Loan Manager 5.0 now available!

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 early October. We will send our clients an email with the date, time and link… Time well invested!

 

Cuomo Signs Bill Cracking Down on Small-Business-Loan Abuses

Interesting article by Zachary R. Mider about New York Governor Andrew Cuomo who signed a bill aimed at preventing predatory lenders from using the state’s court system to seize the assets of small businesses nationwide.  Read the article here.

Wall Street Prepares for the End of a Crucial Benchmark

LIBOR (London Interbank Offered Rate) is dying, warn global regulators, and there’s nothing banks can do to stop it. Here’s an interesting article on the subject by Lannah Nguyen and Alex Harris.

Supreme Court of Canada considers litigation funding for the first time

Canada’s highest court will soon have an opportunity to clarify the law on litigation funding. Find out more by following this link.

Margill Loan Manager latest version 4.4 and upcoming 5.0 – New features now on web site

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

CANADA : Alert to borrowers and lenders: Significant changes to lessee accounting standards

Effective for accounting periods starting January 1, 2019, International Financial Reporting Standards 16 (IFRS 16) has replaced International Accounting Standards 17 (IAS 17) as the accounting standard for leases for all Canadian entities reporting under IFRS.

Complete text here.

Expensive Loans to Desperate People Built This $90 Billion Industry

About 12 million Americans use high or very high interest loans every year (payday, title loans, etc.). The Trum administration may introduce new legislation that may significantly change the landscape.  Here is an interesting article dealing with the subject.

Just follow this link.