Search found 98 matches

by wtech_josh
Fri Oct 13, 2023 4:59 pm
Forum: Other Options
Topic: Sue Experian?
Replies: 1
Views: 13868

Re: Sue Experian?

First, a disclaimer - this is a forum for people to get help with servicing loans using Moneylender Professional. So most of the discussion is intended for the lender's point of view. Also, nothing stated here is legal advice, nor likely to be accurate. I have only a glancing familiarity with credit...
by wtech_josh
Fri Sep 22, 2023 2:13 pm
Forum: AutoPay Service
Topic: Pending vs Processing
Replies: 2
Views: 109579

Re: Pending vs Processing

Now that the ACH itself is performed by Actum Processing, there are a few new details. First, you can see the history of events for each payment by logging into your account on the store and clicking AutoPay Payments. Processing payments will show the expected date when they should be released. If y...
by wtech_josh
Wed Jun 21, 2023 8:51 pm
Forum: Configuring Loans
Topic: Multiple lenders on a loan
Replies: 4
Views: 105083

Re: Multiple lenders on a loan

The Financial Summary report type is the only one that'll support generating fractional ownership numbers. There isn't a way to show a list of payments and have that list split by lender. In large part, it's because payments are a type of setting as far as the loan calculation engine is concerned. T...
by wtech_josh
Wed Jun 21, 2023 12:32 pm
Forum: Configuring Loans
Topic: Multiple lenders on a loan
Replies: 4
Views: 105083

Re: Multiple lenders on a loan

Hey Mark!

On any of the reports that will list multiple loans, there's a drop-down box next to the Refresh button at the top where you can choose a specific lender. Pick a lender and click refresh and you'll get just that lender's share of each loan they own.

All the best,
Josh
by wtech_josh
Mon May 29, 2023 6:08 pm
Forum: Statements and Servicing
Topic: Truth-in-Lending Disclosure Template
Replies: 0
Views: 114879

Truth-in-Lending Disclosure Template

For anyone looking to include a TILA truth-in-lending disclosure alongside a loan contract, download the attached mlp3template file and add it to your portfolio from Servicing > Manage Templates > Import (arrow towards disk) > Change Source > locate the downloaded file > check the box for the disclo...
by wtech_josh
Tue May 23, 2023 4:11 pm
Forum: Installation / Portfolio Setup
Topic: Error Message: Invalid Class
Replies: 1
Views: 103410

Re: Error Message: Invalid Class

Somebody called with this problem six or twelve months ago. Windows keeps a list of all the properties of the hardware in your computer. If the property file gets corrupted somehow, Moneylender asks Windows about the connected disks and CPU and Windows returns this error when it encounters the corru...
by wtech_josh
Thu Jan 19, 2023 1:41 pm
Forum: Other Options
Topic: Form 1098 Principal in Box 2 is wrong!!
Replies: 0
Views: 104640

Form 1098 Principal in Box 2 is wrong!!

Why is the principal balance in Box 2 wrong on the 1098 forms that Moneylender is generating? It's not! The balance is at the start of the calendar year on the form, not at the end of the year. Here's what it says in the IRS instructions for Box 2: Enter the amount of outstanding principal on the mo...
by wtech_josh
Wed Jan 11, 2023 2:10 pm
Forum: Configuring Loans
Topic: How to do an Interest Only loan
Replies: 0
Views: 28882

How to do an Interest Only loan

The only different in the set up is that the regular payment is the Interest Only payment amount instead of the amortized payment amount. Literally everything else is the same. When collecting the payments, you might choose to mark the payments as "Interest Only" instead of "Regular P...
by wtech_josh
Wed Jan 11, 2023 1:36 pm
Forum: Statements and Servicing
Topic: Form 1098 incorrectly labeled as "2021 Form 1098 - Printable" instead of 2022
Replies: 0
Views: 23452

Form 1098 incorrectly labeled as "2021 Form 1098 - Printable" instead of 2022

If you used Moneylender for your 2021 Form 1098s (or if you created your portfolio during 2022), you might see the printable template says "2021" on it even though you're printing templates for the 2022 tax year. The 2022 form is identical to 2021, and Moneylender uses the <LastYear> tag t...
by wtech_josh
Sat Aug 27, 2022 3:13 pm
Forum: Management and Financials
Topic: How to prevent payments from being applied to late fees
Replies: 7
Views: 23550

Re: How to prevent payments from being applied to late fees

Orly!? 😲 In my mind, I was picturing it in the reverse - telling the borrower they're ahead (box checked) and telling the third party they're behind (box unchecked). I was also assuming there were a lot of late fees - or at least the possibility of a lot of late fees. In your situation, and dependin...