July 2021 – What’s Happening with Moneylender?

 Things that are in the works for our loan servicing software, Moneylender Professional.

 AutoPay Production Release is Delayed

Issues with the backing bank has held up development on the production release of AutoPay.  Development is stuck until the bank situation is resolved, so the AutoPay Production release is on pause for now.  Lots of cool features are already at least partially developed, so it’ll be awesome to get rolling again once the bank stuff is sorted.

 

Accounting Mechanism

A new feature set will be created for Moneylender that will allow users to create demarcation points for accounting purposes.  There has been a long-standing problem when it comes for balancing the books against Moneylender’s reports.  The accountants need the numbers to stay the same from month-to-month or quarter-to-quarter.  The servicers need to be able to retroactively adjust things like waiving late fees or correcting payments or settings.  These two needs are in conflict with each other.

A new system is going to be added that will allow users to set an accounting checkpoint for a specific date and Moneylender will record the balances and totals since the previous checkpoint.  Each checkpoint will also include an adjustment factor that represents the differences in amounts cause by retroactive changes to a loan.  This permanently formalizes and resolves the relationship between concrete numbers for accounting and retroactive edits for servicing.  CPAs rejoice!

 

Portfolio Hosting Service

A version of Moneylender that runs as a faceless Windows service has been in the works for a couple years.  An extension of this will be a new service where you can choose to host your portfolio on our servers.  Instead of housing your data on your own computer, we’ll house your data and ensure ongoing, off-site backups.

This service will be especially appealing to lenders that might need to travel and use different computers.  Especially so if there are multiple people working together.

 

Moneylender Academy

We’re planning on producing a series of videos structured like a Moneylender school.  This should really help with training new Moneylender users to get up and running quickly, and to make the most of what the system can do.  We’re thinking about having four level of topics, starting with the introductory and basics in the “Associates” level, and describing really niche and enterprise features in the “Doctorate” level.

At the moment, we only have one video up on our new Moneylender YouTube channel, but this is where we'll publish the academy videos when they become available.