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 […]
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 […]
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 […]
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 – 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.
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 […]
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?
How can we obtain the loan-to-value (LTV) in Margill Loan Manager?
Question How can we obtain the loan-to-value (LTV) in Margill Loan Manager?
How can I set up multiple Global Initial Fees in Margill Loan Manager?
Question: How to set Global Initial Fees which are a) a flat $100, b) a Dealer Fee of 7% of the loan amount and c) an Admin one time initial fee of 7% of the loan amount. These fees are financed, not paid up front… How and where do I set the Initial 3 fees […]