News

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 […]

Margill Loan Manager Webinar 4.3 new features

Here is the documentation regarding the webinar of version 4.3 of Margill Loan Manager: PDF presentation

If a client makes a payment, how do I feed that into the program?

Question: Hi – I’ve been giving your software a trial, and really like it. The only thing I haven’t been able to do is feed information into the ledger. For example, if a client makes a payment, how do I feed that into the program? How does it know when a payment hasn’t been made? […]

Margill Loan Manager version 4.2 webinar

We did a Margill Loan Manager webinar back in December regarding version 4.2 If you missed it, or you would like to see its content, you can refer to the following video and document: PDF presentation Video presentation    

Margill Law Interest Calculator – Washington Interest Rate

To all Margill Law Interest Calculator users, we have updated the 4.56.110(3)(b) interest rate table to correct the error discovered. In March 2017, while reporting the Historical Judgement Rates to the Office of the Code Reviser, they discovered an error in the rate from February 2016 through March 2017. If you want the latest version, […]

Margill Loan Manager – General Ledger (GL) Accounts

Questions: 1. In terms of the accounting report and accounting identifiers, are these captured at the borrower level,  or the record level? How is this selection made and where is it used/displayed on the accounting report? 2. In our accounts we split interest accrued and other fees by product type, i.e. a separate GL account […]

How to setup weekly or biweekly payments

Question: How to setup weekly or biweekly payments in Margill Loan Manager? Answer: When creating a new record, set up the Period of Payments at ”By day(s)” and input 7 for weekly or 14 for biweekly payments. We also suggest that you setup the Compounding Period to match the Period of Payments.