News

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.

How can I see interest that accrued on unpaid payments?

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 […]

How to change the Windows Short date format

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) […]

Can we email an amortization report to each borrower when interest rates change?

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 […]

Replacing LIBOR – Are you Thinking About This $200 Trillion Dollar Problem With Your Contracts?

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 […]

Margill Webinar

The Margill Team is proud to formally announce the release of Margill Loan Manager 4.4. It is a really impressive version with a host of new features. Here are the six most important improvements: Blocking historical transactions Alerts: Use templates with merged data to send automatic emails and Mail to SMS to borrowers (example: upcoming […]

Margill Solutions – Top 10 Retail Banking Solution Providers of 2018 in Banking CIO Outlook

The Margill team is proud to be one of the Top 10 Retail Banking Solution Providers of 2018 in Banking CIO Outlook magazine. To help CIOs, CFOs, and CEOs find the right solutions for their retail banking initiatives, a distinguished panel comprising CEOs, CFOs, analysts, and Banking CIO Outlook’s editorial board has selected the top […]

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, […]