News
How to enter loan number, Federal Tax ID, set up automatic late fees, create a line of credit, etc.?
Questions: In Margill Loan Manager: 1) How/where do I enter my loan #? Can I change the identifier number automatically assigned by Margill? 2) Most of my clients are businesses, and I do not see a place to enter the Federal Tax ID number. I would also like to add fields for type of company, […]
Long first payment deferral versus normal one period (month) deferral
Question: When we compare a loan using a normal amortization schedule (amortization book or calculation on an online website) we do not reach the same number of payments in Margill as in the on-line calculator. Why is this? Here is an example: Origination Date: July 14, 2017. Original Principal: $ 11,374. 10% interest rate 48 […]
Intercompany Loan Management with a Loan Servicing Software
Intercompany loans Very often, when a company has many subsidiaries, branches or franchises, the head office will afford loans to these other entities. These subsidiaries in turn can lend to other entities and so forth. These intercompany loans often represent quite a challenge to the accountants and controllers since the loans are not part of […]
How to extend a loan once the loan has reached a maturity? Term is to be extended by 48 months.
Question: How to extend a loan once the loan has reached a maturity? Term is to be extended by 48 months. Answer: As you may know, Margill Loan Manager is probably the most visual software on the market so this kind of change takes a second. In the payment schedule, simply click on the icon […]
How to do erratic payments in Margill Standard/Law Edition
Question: How to do erratic payments in Margill Standard/Law Edition Answer: Pretty simple. Once you entered all your loan data. Click Compute, and you will get to the payment schedule: From there, you can change the Pmt date, the Payment amount, and the Rate. You can even use the right click button to get many […]
Can you walk me through how I would update MLM to the latest version on the Cloud?
Question: My Margill Loan Manager is installed on a server on the Cloud. It wants to have me input a path and so on, and I was not comfortable starting it. It also said to back up MLM data first, and I am not sure if that is necessary for me given that we have […]
Can Margill Loan Manager do progressive Advances to my clients?
Question: Can Margill Loan Manager do progressive Advances to my clients? For example, my borrower was authorized for a $100,000 loan but this will be disbursed in stages. So 15,000 one day, 10,000 another and so forth… Answer: Short answer… very easily… You first create a new Record. In this case the first advance of […]
New Margill Loan Manager client: Strada Education Network
We would like to welcome Strada Education Network as a new user of our Loan Servicing Software, Margill Loan Manager. Strada is a non-profit organization that works to help students through their education path. They offer many different types of solutions to improve student outcomes in higher education and facilitate successful career transitions. More information […]
Margill Loan Manager version 4.3 now available for download
Testing and tweaking is now a thing of the past. Version 4.3 of Margill Loan Manager is now available to download in our Download Center To see the full list of new features, please visit our Release Notes. We are already working on Version 4.4, which should be released in late October 2017. The Margill Team.
Margill Loan Manager – Principal and Interest forecast
Question: I need to break down the due payment for the next fiscal into Due payment interest portion total and Due payment principal portion. Answer: If you are on version 4.3 and above (go to https://www.margill.com/get to download) go to Reports > Personalized Reports > Record List (Customized) with Period Breaks. 1) Report template Click […]