Making and Servicing Loans
Updates, tips for lenders, tax information, and anecdotes from the author of Moneylender Professional to help you succeed.
2023
2022
- Moneylender Loan Scam
July 25, 2022
Scammers are using the name Moneylender and our logo to make their fake loans seem more legitimate. Moneylender Professional is software used by lenders,...
2021
- Why Choose Moneylender Professional Instead of Other Loan Servicing Software?
September 7, 2021
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,...
- Is It Smart to Service My Own Loans?
July 26, 2021
What is loan servicing? Loan servicing is the process of collecting the payments on a loan, including all the documents, accounting, and tax requirements....
- July 2021 – What’s Happening with Moneylender?
July 19, 2021
Things that are in the works for our loan servicing software , Moneylender Professional. AutoPay Production Release is Delayed Issues with the backing...
- Buttons and Levers for Lenders and Debtors
June 8, 2021
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...
2020
- Observations on Lending as COVID-19 Spreads Globally
September 30, 2020
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...
- Moneylender Professional in 2020
June 16, 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...
- Building the Best Loan Servicing System Because We Refuse to Settle for Anything Less
April 6, 2020
I had a customer ask me a lot of questions about making a report in a very specific way. I explained that the information they were asking for isn’t...
- In a time of great change, you need loan servicing software that thrives in change...
March 30, 2020
When people lose their income, they lose the ability to repay their debts. With all the layoffs and everyone earning less money, there really is no...
- Loan Servicing Software
March 27, 2020
When choosing a good loan servicing software system to manage and calculate your loans, you want to be sure you’ll be able to do manage your loans quickly...
- AutoPay Gets a Higher Daily Volume
March 4, 2020
Our sponsor bank has granted us a new higher processing limit. The first and fifteenth of the month are always big days for loan payments, and those two...
- 2019 IRS Form 1098 - Tips to help you avoid some common mistakes
January 9, 2020
Lenders across the United States are preparing their IRS Form 1098 Mortgage Interest statements before the January 31 st deadline. While most of the boxes...
2019
- Taking the Leap – Making Bold Moves toward New Horizons
December 17, 2019
It goes against my grain to stand on a soapbox and ask everyone to look at me. I have to remember that what I have to offer is really quite good. The...
- The Secret Sauce to Make Any Business Work
December 9, 2019
I’ve read a lot of business books. Books on management, leadership, advertising, marketing, internal processes, hiring, motivational and inspirational...
- The Five Keys to Accounting for Loans at Tax Time
December 2, 2019
It might seem daunting to try to make sense of your loans when it’s time to do quarterly assessments or annual tax returns. Business finances from loans...
- Making Money in a Shaky Economy
November 25, 2019
The last four months have seen a steep downturn in sales of Moneylender. I asked my bank how business has been lately, and they noticed their branches...
- Stacking the Pennies Perfectly, Avoiding These Common Pitfalls
November 18, 2019
I often talk with customers that are dealing with the headaches of trying to account for thousands of loans, often with a team of people each having...
- Commercial Loans: Choosing a Repayment Structure that Fits the Deal
November 11, 2019
Lots of commercial lenders have a style they like to use when setting up their loans. For lenders that might be considering a deal, and want to tailor the...
- I’m in charge here.
November 4, 2019
How a borrower perceives you is the key to where you rank in their priorities. With a little practice, you can perfect a persona so your borrowers will...
- My friend wants to borrow some money, what do I do?
October 28, 2019
How to loan some money without losing a friend. First, are you sure it’s not a gift? If your friend doesn’t have the income to support their regular bills...
- Businesses Increasingly Adopting Moneylender
August 19, 2019
Our loan software is finding a steadily growing place in core business accounting. Small and medium businesses are finding all the tools they need to...
- Making Unsecured Loans for (Reasonably) Safe Profit
June 20, 2019
I had a phone call with a potential customer the other day. They were looking for some software to manage their loans as they start a relatively new...
- Get Organized with Loan Servicing Software
June 13, 2019
Many people end up with a loan and think that it’s totally manageable to do the math themselves and keep track of it all in Excel. For a while, things are...
- Big Thanks to Mike Ruscica and NoteConference.com
January 24, 2019
I want to share some info about my friend and advocate, Mike Ruscica . Mike is an investor and investment coach from New Jersey that dedicates his time...
2018
- Handling Escrow on Your Loans – 3 of 3
December 26, 2018
Special Situations Check out part 1 – The Rules for Lenders and part 2 – How to do Escrow in Moneylender Now that we know how to determine the periodic...
- Handling Escrow on Your Loans – 2 of 3
December 20, 2018
How to do Escrow in Moneylender Check out part 1 of this Series – The Rules for Lenders Moneylender can happily determine the correct amount to add to...
- Handling Escrow on Your Loans – 1 of 3
December 17, 2018
The Rules for Lenders Tracking escrow on mortgage loans is a big deal, and an important part of servicing loans properly . There are a lot of moving parts...
- Setting a Precedent
December 16, 2018
Disclaimer: I am not an attorney, none of the ideas here should be considered legal advice. I had a call from a customer a few weeks back where they...
- The Farmer Who Could Understand Animals
December 13, 2018
I am a huge fan of the book The Richest Man in Babylon . I buy half a dozen copies at a time and give them to my friends when the subject of money comes...
- For Lenders Preparing to Close Out 2018
December 10, 2018
With the calendar year coming to an end, now is the time to get your books in order and make sure you can accurately account for your lending and leasing...
- AutoPay – Integrated payment system for Moneylender Professional
November 7, 2018
Moneylender now has integrated payment systems to allow lenders to set up payments from borrowers with just two clicks. Whitman Technological does all the...
- Moneylender 3 Hits Another Milestone
September 20, 2018
Just under two years since the Alpha version of Moneylender 3 became available to the public we have hit update number 100 to our signature application....
- Moneylender Hits a New Record for Google Placement
September 10, 2018
For the first time ever, Moneylender appeared at number FOUR in results for “ loan servicing software ”. That’s incredible for a product that has no...
- Moneylender Featured on the Savvy Radio Show
August 29, 2018
Huge thanks to the Savvy Radio Show hosted by Steven VanCauwenbergh for his review of Moneylender Professional. Long-time customer Crystal Caruthers...
- Moneylender 3 Professional Cracked Version [Free Download]
August 17, 2018
Hello friend, If you’re on this page, you were probably trying to find a copy of my latest software without having to pay for it. I know I’m not the...
2017
- An interesting phone call...
November 6, 2017
I was talking with a customer in early November of 2017, and our conversation really illuminated the difference between Moneylender 2 and Moneylender 3....
- Epic Thank You to CloudSmallBusinessService.com
July 11, 2017
Today I was checking the placement in Google for the Moneylender website. I clicked on one of the suggested search terms "loan servicing software for...
- Moneylender 3 Beta Progress
July 6, 2017
It's been about two months so since Moneylender 3 was released in Beta. There are a few people that are actually using it to service their loans . In most...
- Going to Court over a Loan
June 29, 2017
Whether you're the one filing the lawsuit or not, a lawsuit means something is not going right on the loan. Make sure you find a qualified attorney to...
- Manual vs. Automatic Loan Calculations and Management
June 26, 2017
There's a huge commitment of authority whenever you automate something. A simple example would be the transmission in a car. With a manual transmission...
- Getting Started with Your First Loans
June 16, 2017
So you find yourself with a loan or many loans. Maybe you sold a house, maybe you inherited a portfolio. Your hope is that borrowers will pay the loans...
2016
- Loan Servicing Software: Get Rid of the Backup Bother Once and for All
November 18, 2016
Even if you're extremely careful, you never know when a computer crisis might pop up. Moneylender Professional loan servicing software helps you prepare...
- Moneylender Professional's Time Machine: Auto-Generate Payment History Tool
November 11, 2016
With Moneylender Professional 2 loan servicing software , the past isn't static. Maybe you've taken over a loan that's current, but you're missing...
- The Real Meaning of "Amount Due"
November 4, 2016
Whether lenders keep track of loans in a notebook, in Excel, or in dedicated loan software , "Amount Due" is an important number… but maybe not for the...
- What's New for the 1098 Form
October 28, 2016
Get ready for a few changes for tax year 2016… at least when it comes to your 1098 (Mortgage Interest Statement) form. For people who manage and service...
- Throw Out That Amortization Schedule (Maybe)
October 21, 2016
When discussing loan topics from A to Z , amortization falls near the very beginning of the alphabet. It's a straightforward concept. An amortized loan...
- Moneylender Professional 3 Is Coming Soon… Here's a Sneak Peak
October 14, 2016
Since Friday, October 14, Moneylender Professional 3 has been available for preorder to Moneylender 2 license holders. MLP 3's Alpha version will be...
- Deferring a Loan: Who Wins?
October 14, 2016
When a borrower gets too far behind, the credit score is affected. Sometimes a lender helps out by offering to defer a payment, moving it to the end of...
- Blindsided: How to Add Principal to a Loan
October 7, 2016
Best-case scenario: your lenders pay on time, and funds process smoothly. Everyone's happy. Unfortunately, it doesn't always work that way. I recently...
- Moneylender Professional 3: What’s New?
October 7, 2016
Moneylender Professional 3 loan servicing software is making its debut in 2017. The software’s creator, Josh Whitman, answers some questions to give you...
- Moneylender Professional Modification Requests
September 23, 2016
Moneylender Professional simplifies managing and servicing loans . But what if your lending situation requires something a bit different? We might be able...
- Scrutinizing Software: Choosing a Product for Your Loan Business
September 16, 2016
Recording loans. Collecting payments. Tracking data. Creating statements. Businesses that handle 10 loans or 10,000 loans require many of the same...
2015
2013
- Buying Loans from Other Lenders
August 30, 2013
Buying existing loans is a popular way to invest in loans without all the paperwork and screening that comes with loan origination. Many lenders work...
- Internal Funding vs. Bank Backing vs. Investor Backing
August 9, 2013
Of all the lenders I’ve talked to who use my loan servicing software (Moneylender Professional) , there are three underlying financial structures they...
- Tips for Getting Started as a Lender
August 2, 2013
Note, this article is talking about lending in the United States of America. If you are located in another country, the rules may be totally different (or...
- Structuring Agreements for Profitable Outcomes
July 26, 2013
Risk is inherent in lending money. Creative risk mitigation can help to ensure profitable outcomes. Smart lenders design their loan agreements to ensure...
2012
- Seven things to consider before lending money
December 26, 2012
A well made loan ensures the safe return of your money plus reasonable interest. A poorly made loan can leave a hole where your money used to be, or...
- Diversified Lending by Industry
December 12, 2012
The same way an index fund helps to mitigate risk by balancing investments across many types of businesses, lenders can help ensure performance by making...
- Diversified Investing - Short and Long Term Loans
December 6, 2012
Investing is a delicate balancing act of risk vs. reward. Too much risk and you might not get your principal back, too little and inflation will devour...
- Four Ways to Get Consistent Payments from Borrowers
November 27, 2012
As a small lender, it's much more important that every one of my loans stays on track. Once the loan is made, the terms are set, but I can still have an...
2008
- Tracking Discount Earned on Purchased Loans
June 10, 2008
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...
- Moneylender Professional
May 28, 2008
Welcome to the Moneylender Professional blog. Moneylender Professional is loan servicing software developed by TrailsWeb LLC . MLP is a program that can...
