Moneylender Loan Scam

Scammers are using the name Moneylender and our logo to make their fake loans seem more legitimate.  Moneylender Professional is software used by lenders, we DO NOT make loans to borrowers.  You are being scammed. No lender will ever ask you to pay an application fee using gift cards.  Never reply to an email offering you a specific loan.  If you need a loan, search for a reputable lender in your area with lots of reasonable reviews, or visit a reliable website that can connect you with lenders. is a well known website where you can request loans of all types and sized and they will match you with a real lender that will be willing to work with you. If it seems to good to be true, it is.  Never give your financial or personal information to someone that emailed or called you with an offer that's too good to pass up. Think about the loan.  Did you ask for the loan?  Why would you be borrowing that money?  Do you have any reasonable means to repay the loan?  If you

Why Choose Moneylender Professional Instead of Other Loan Servicing Software?

  It’s no secret that there are lots of options when it comes to the software that will calculate and manage your loans .   With so many choices out there, what makes Moneylender the right choice for you? Value First and foremost, Moneylender is an absolute bargain compared to most other solutions out there.   One of the few professional options with a one-time cost for a license, Moneylender asks only a reasonable up-front payment and doesn’t continue to drain your revenue over time.   We do offer companion services that integrate with Moneylender, but all of them are optional, and their rates are among the lowest in the industry.   Our pricing is set so that it’s pretty much impossible to pay less for so much.   There are less expensive solutions out there, of course, but you won’t be getting the feature-packed powerhouse you get with your license of Moneylender Professional. Control Moneylender is a tool that simplifies all the steps you’ll take when servicing your own loans

Is It Smart to Service My Own Loans?

What is loan servicing? Loan servicing is the process of collecting the payments on a loan, including all the documents, accounting, and tax requirements.   To service a loan you’ll likely be sending our statements and late fee notices to your borrower, calculating the balance on the loan over time, and sending annual statements for tax purposes, such as the 1098 mortgage interest statement in the United States.   It can also involve collecting funds into an escrow account and paying associated bills like property taxes and insurance, and providing an accounting to the borrower of the escrowed funds.   Is it hard to do all that stuff? If you’re doing it by hand, then yeah, it’s pretty tough.   Getting an accurate loan balance and valid interest calculations that match the terms in your loan contract is actually a lot more complex than slapping payment amounts into a generic Excel amortization template.   Borrowers almost always pay something different from the regularly schedul

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 wit

Buttons and Levers for Lenders and Debtors

One Thursday afternoon, I told my son that I didn’t want to get anymore emails home from his teacher telling me that “he didn’t finish his classwork at school today.”  I further stated that if an email was sent that he wouldn’t be allowed to play computer games at all that weekend. Near the end of the school day on Friday, my boy was close to finishing his work, but not quite done.   He and his teacher were having their daily argument about completing classwork.   That’s when my son asked his teacher not to write an email to me because he would lose computer. Surprise, surprise, I got an email from his teacher that afternoon.   My son told me about what happened during the day, and I had to chuckle a little bit.   Here’s the approximate conversation that ensued. Dad: If I give you a box with a huge red button on it.   What do you want to do with that button?   Son: Push it. Dad: It feels good to be in control of things, doesn’t it?   Like holding the TV remote or being the mo

Observations on Lending as COVID-19 Spreads Globally

 I hope you’re all safe and healthy out there.  I’m seeing a couple little ripples in lending amongst Moneylender users, and I though you might find the observations interesting. The story told by Moneylender sales… Sales slowed for the first several months of the pandemic, and then sort of adjusted back to regular levels.   The collections freezes and proffered forbearances in March and April of 2020 made the lending industry hold its breath.   Once the job situation began to stabilize, we could see who would be losing their jobs and who would remain employed. We saw a surge in Moneylender sales as people adopted our software to help with their workload as refinances and reinstatements were officially structured into debts around May.   In spite of the surge, the overall sales numbers were depressed throughout 2020, alongside an apparent slump in new debts among Moneylender users, and I would speculate that uncertainty for the future is causing people to avoid new purchases, deb

Moneylender Professional in 2020

A lot has happened since the last time I posted.   The coronavirus outbreak that causes COVID-19 hit the world and put us all indoors.   I started a YouTube channel.   Moneylender has seen fifteenish updates, adding around 50 new things to the program alongside other fixes and changes. Monthly sales of Moneylender went up and down during the pandemic.   Overall sales are growing.   In one two-week period we were getting one or two new customers almost daily.   It was an unprecedented rally – surpassing the highs from the December-January surge to set a new monthly all-time record in May. COVID led to a lot of forbearance and other types of plans to ease the financial burden as businesses were shut down.   I wrote a new section onto the Settings tab – “Special Situations” where you can easily set up any combination of forbearance, reinstatement, waiving or capitalizing interest, and/or adjusting the escrow to be collected.   Of the handful of people that I’ve helped to use the new