Getting started
- Import your Borrowers in seconds directly from an Excel spreadsheet
- Import your regular and irregular loans and payments from an Excel spreadsheet
Basics
- PC: Windows based / Citrix / Remote Desktop
- PC: Mac running Parallels Desktop
- Uses its own database (Hyperfile)
- Database can be located at any desired location on a local area network (LAN)
- Can easily be installed and accessed in the Cloud
- Network (multi-user) or Single User
- Manage from 10 to 25,000+ loans
- Search tool in the Main window (Multiple field search)
- Users: Administrator, Power, Regular, Draft, Read-only
- Various other rights can be provided
- Large database quick data refresh
- Login by User name and Password
The Math
- Simple Interest
- Simple Interest Capitalized
- Compound Interest
- Multiple Compounding Periods (no need to match payment frequency)
- Multiple Payment Frequencies and Irregular
- Regular or Irregular First Payment Date
- New 4.4 – Multiple Day Counts (Actual/Actual, Actual/365, Actual/360, 30/360, 30/360 U)
- Short & Long Periods
- Mix of Compound and Simple interest in one schedule (pretty advanced stuff!!)
- Add-on (precomputed) Interest
Interest Rates
- Fixed Interest Rate
- Variable Interest Rates (with interest table or updated manually)
- Variable rates + or – x%
- Recompute payments (optional) when new rate is applied
- Update interest rates for multiple loans at once
- Rates up to 6 decimal places
Borrowers – Guarantors – Creditors
- Client (Borrower/Guarantor) Database
- Creditor Database
- Borrower and Creditor databases independent from the loan itself
- Number of borrowers that can be entered in the system is triple (3x) the number of loans purchased with the license
- Multi-lender, Syndicated loans (Can include dozens/hundreds of Creditors / Reports participation of each)
- Co-Borrower(s) for a loan
- Guarantor(s) for a loan
- Employer Database
- Maximum Credit for all of a Borrower’s Loans
- Unlimited custom fields for Borrower, Creditor and Loan
- Multiple Loan Officers for a Creditor
- Metro 2 Credit reporting fields
- Add Notes or Attach files to a Borrower
International and Standards
- Multi-Currency / Convert to one currency
- Truth-in-Lending Act (USA)
- Canadian Regulations
- European Regulations
- Standard Interest Calculation Methodology (for most jurisdictions in the world)
- English & French Versions
Amortization Table
- Custom Payment Plans (Regular, Irregular, Principal and Interest, Interest-only, Fixed Principal, Lump Sum, Combination of these, Rate-Adjusted Payments, Recomputation of Payments, Interest Rate Changes)
- Additional Principal (Advances) to an existing Loan
- Fees, Penalties, Insurance, Taxes (Add others and name as desired)
- Interest or No Interest on Added Principal, Fees, Penalties, Insurance and Taxes
- Custom Payment Types (Adapt the payment types to your exact needs) (Example: Paid Visa, Paid Check, Admin Fees, etc.)
- Custom Additional Principal Types (Name as you wish)
- Irregular Payments Management (Unpaid, Partial, Late)
- Principal-only payments
- New 4.4 – Interest Paid ‘In Advance”
- End-of-month payments or on the 28, 29, 30, 31
Easy User Customization
- Custom Fields (Unlimited)
- Custom Scroll Menus
- Custom Dashboard (Main Window)
- Custom Display Record filters (Main Window)
- Custom Payment Types (over 60 types)(Paid Cash, Paid EFT, Extra Pmt, etc.)
- Custom Reports with hundreds of fields
- Custom columns (3 monetary, 3 numerical, 3 text) to enter extra loan information
Tools
- Post payment tool that allows batch posting
- Post paid, unpaid, partial and late payments, add Fees, add Comments, etc. “Unpay” paid payments in batch.
- Post payments via an Excel sheet (Unique line ID for each payment)
- Import regular and irregular payments (or extra Principal) from a simple Excel sheet. Add multiple other data for each payment (Comment, Note, etc.)
- Record Sorting and Search
- Sort by multiple criteria
- Record Display Filter
- Record Notes (unlimited length)
- Record Notes on Individual Payment Lines
- History (Log) of Changes
- Attach Files to a Record
- Returned checks module
- Global changes in the database
- Quick Irregular payments entry
- One click Backup
Alerts
- System Alerts, Line status Alerts, Record Alerts, Payment Line-specific Alerts, Conditional Alerts
- New 4.4 – Send automatic reminders to Borrowers by Email (upcoming payments, unpaid payments, etc.). Create your own templates.
- Show and change Notes directly from Alerts
- Add Alerts from the Alerts module
- Send Emails from the Alerts module
- Maximum credit for a Borrower for all his Active loans in the system
Reporting – Invoices – Statements
- Custom Reports using over 1000 fields + Custom fields+ Equations you create
- Executive Dashboard (Portfolio overview – number of records, amounts, averages and graphics)
- Transactions Report
- Financial Projections
- Contracts, Letters, Invoices, Statements (Custom Merges with your Word (RTF) Documents)
- Produce RTF or PDF documents
- Send Invoices / Statements in bulk by Email, attach to Record, save and print with one click
- Mathematical Equations: Add, subtract, multiply, divide… fields together
- Data fields classified by theme
- Standard Reports
- Detailed payment schedules (Including Quarterly, Yearly, Fiscal Year-end Totals)
- Monthly, Quarterly, Yearly Reports (or Between any Dates)
- Current Balances
- Escrow reporting
- Repayment Ratio
- Detailed Accounting Data (see below)
- Ageing report (current, 30, 60, 90… days late)
- Credit reporting (Metro 2) (with Credit Manager 4 by The Service Bureau)(USA and Canada)
APR Module
- Very sophisticated calculation for multiple APR scenarios
- Fees can be Paid up-front, Financed or Paid subsequently
- Paid Financed fees distribution by type
Accounting
- Export Debits and Credits to your General Ledger (QuickBooks, Sage 50/300, Acomba, CSV, TXT, Excel)
- Over 350 accounting fields for reporting:
- Interest Accrued and Paid, Paid Principal, Outstanding Amounts, Principal Balance, Due Interest, Payment source, etc.
- Export to your GL as Lender or as Borrower
- Total Debits and Credits by account
Electronic Funds Transfer
- Automatic debit from bank account or credit card – Canada via Perceptech
- New 4.4 – Returns management directly in MLM
- New 4.4 – United States – ACH via Intrix
Fees, Insurance and Taxes
- Include fees, insurance or taxes with automatic recomputation based on loan balance
- Fees (or other) can be added as columns (3 custom named columns) or as lines
- Column fees automatically generated according to the rules established by the Administrator
- Column Sales Taxes automatically eliminated for unpaid payments
- Escrow module
Cool Features
- Customize your Dashboard (Main window) – important data for your needs
- Add Color to identify problem loans / Sort by color
- New 4.4 – Compulsory Fields
- New 4.4 – Background tasks: automatic backups, current balance recomputation, alerts etc.
- New 4.4 – Scan files directly in the software
- Increase or decrease font size in the Dashboard, Payment schedule, Post payment window
- 25+ shortcuts – view with F2
- Unique Identifiers for Borrowers, Creditors and Loans (to tie in to third party software)
- Loan balance and Ageing report based on date – updated daily on Dashboard
- Remembers last report date
Help
