News

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.

New Margill Loan Manager client in South Africa

We already mention on our website that we sell in 38 countries, but it is always interesting to see our software at work overseas. Its flexibility and powerful mathematics make our Loan Servicing Software useful for our new client in South Africa, Forward Finance. Welcome from the Margill team! For more testimonials: https://www.margill.com/en/client-testimonials/  

Typical questions before software purchase – Margill Loan Manager

Questions: We are a secured lender, our loans are secured against properties. Does the system allow us to input details of the property and loan to value against each loan? How do I do this? Will the system give me an overview of our loan book as a whole? Some clients pay monthly, some clients we […]

Margill Standard/Law versions: How to do an irregular payments scedule

Question: I have a principal of $200,000 starting 03/01/2017 (over 24 months) and the last payment to be made on March 1, 2019. First payment is on 4/1/2017 at unknown amount. Two $50,000 lump sum payments to be made on 05/01/2017 and 05/01/2018. I must also compute the payments in between the $50,000 payments. Interest […]