Showing posts from 2008

Tracking Discount Earned on Purchased Loans

Q : How can I keep track of the discount earned along with the interest and principal on a loan with your loan servicing software ? A : By way of an example... Start by clicking " Loan from Template" in the toolbar. Click Mortgage . Enter " Discount Earned " for the account number. Set the dates as you see fit, enter $100,000 for the principal, and 10% for the interest rate. Click the Regular payment. Pick a borrower and a lender and hit finish. Select the new " Discount Earned " and then click Loan > Lender > Multiple Lenders . Click new and pick a lender . Adjust the percent interest in loan to 100% (complete ownership). Set the price paid to $60,000 and click Save. (So the lender bought a $100,000 balance for $60,000.) Click Done in the Multiple Lenders dialog. Double-click the loan and click "Save" to record a payment on the loan . Do this a couple more times to add a few payments to the lo

Moneylender Professional

Welcome to the Moneylender Professional blog. Moneylender Professional is loan servicing software developed by TrailsWeb LLC . MLP is a program that can calculate and track interest on a huge variety of loans , generate statements from default templates or from templates you can build yourself, manage other fees like pro-rated property taxes and late payment fees , and much more. Moneylender is a full service program designed to accomodate loans of every type. At a fraction the price of other loan servicing products . Please do not hesitate to contact us for assistance with the software , to report a problem, or for more information prior to purchasing. Our toll-free phone number is: 877-7-TRAILS (877-787-2457) Our customer service email address is: Moneylender Professional Loan Servicing Software .