LOAN MANAGER

Latest Posts

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 […]

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? […]

Why are there two sets of Custom Fields in Margill Loan Manager?

Question: Why are there two sets of Custom fields in Margill Loan Manager?

Early payoff – How to do this in Margill Loan Manager

Q: How to do an early payoff in Margill Loan Manager A: For example, the loan term was originally for 5 years or 60 months (so end date was in June 2020). The borrower calls you, the creditor, and wishes to payoff his/her loan early, on October 12, 2018. Original payment schedule:   I first […]

How to obtain the daily interest amount (per diem) in Margill Loan Manager

Q: How to obtain the daily interest amount (per diem) in Margill Loan Manager? A: This can be added very easily through a simple Mathematical Equation.  Go to Reports > Equation Management and click on   Name the Equation Select the two required fields (balance and interest rate) from the various themes on the left Add […]

Interest-only: Regular monthly interest vs. Exact day interest

Question: My company does interest-only 12 month bridge loans calculated in two ways. Payments are based on the number of days in a month with a balloon payment at the end (so payments change depending on the month) Each of the 12 payments is equal with a balloon payment at the end. Can these two […]

Early payoff – How to do this in Margill Loan Manager

Q: How to do an early payoff in Margill Loan Manager A: For example, the loan term was originally for 5 years or 60 months (so end date was in June 2020). The borrower calls you, the creditor, and wishes to payoff his/her loan early, on October 12, 2018. Original payment schedule:   I first […]

Margill Loan Manager: Is there an audit trail that can be printed to show transactions / changes to records on a daily basis?

Q: Is there an audit trail that can be printed to show transactions / changes to records on a daily basis? A: Yes very easily. Go to the Main Margill window, select all the loans (probably only Active loans) , Tools > Various > Display the history of changes for selected Records. You can then […]

Can Margill Loan Manager be used to manage rentals (rent)?

Question: Our company does loans and rentals. Can Margill Loan Manager be used to manage rentals (monthly rents)? Answer: As strange as this may sound for a loan servicing software, yes Margill Loan Manager can manage rentals. The difference between a loan and a rental is that loans begin with a principal amount borrowed that […]