Search found 89 matches

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: 904

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...
by wtech_josh
Thu Aug 25, 2022 1:03 pm
Forum: Management and Financials
Topic: How to prevent payments from being applied to late fees
Replies: 7
Views: 904

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

I want to start prefacing my posts with "Feel free to think about the situation however you want. Here's how I see it..." I don't want to come off like I'm stating "inflexible facts" or anything, with the exception of the internal mechanics of Moneylender's operation. I know the ...
by wtech_josh
Wed Aug 24, 2022 6:32 pm
Forum: Management and Financials
Topic: How to prevent payments from being applied to late fees
Replies: 7
Views: 904

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

Just uncheck the box and run your report. Maybe check the box again after, depending on whether this hypothetical new set of calculations should become the permanent history on the loan or was just to satisfy a curiosity. Be prepared to explain the change to the borrower. Moneylender lets you change...
by wtech_josh
Sat Jul 23, 2022 3:29 am
Forum: Management and Financials
Topic: How to prevent payments from being applied to late fees
Replies: 7
Views: 904

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

There's a checkbox on the Loan Settings (Settings tab) for "Pay regular payment before fees" which will apply the scheduled amount to interest and principal and then apply any overage towards fees. Also of note is the adjacent checkbox for "Pay regular payment before escrow" whic...
by wtech_josh
Fri Jul 22, 2022 12:48 pm
Forum: Statements and Servicing
Topic: Append a Payment Voucher to a Letter
Replies: 4
Views: 811

Re: Append a Payment Voucher to a Letter

If the Vouchers can be the first template, you append the cover letter to the voucher template. That'd probably look goofy to the borrower, though.

Sounds like Option 3 is going to be the best way to get it done.
by wtech_josh
Thu Jul 21, 2022 11:35 pm
Forum: Statements and Servicing
Topic: Append a Payment Voucher to a Letter
Replies: 4
Views: 811

Re: Append a Payment Voucher to a Letter

Appending is limited to the "Statement, Letter, or Contract" template type because all the other template types require additional context to generate. In the case of the vouchers, they require a date range for the vouchers to generate. Since there's no mechanism to feed that extra data in...
by wtech_josh
Fri Mar 04, 2022 1:15 pm
Forum: AutoPay Service
Topic: Pending vs Processing
Replies: 1
Views: 1458

Re: Pending vs Processing

Processing means the transaction instructions have been submitted to the ACH network to debit the funds from the borrower. Pending means the payment is scheduled but instructions to debit the borrower haven’t been submitted to the ACH network yet. Each day at 4:30 I generate the day’s batch of trans...
by wtech_josh
Fri Mar 04, 2022 1:14 pm
Forum: AutoPay Service
Topic: Pending vs Processing
Replies: 1
Views: 1458

Pending vs Processing

What’s the difference between “Processing” and “Pending”?
by wtech_josh
Mon Jan 24, 2022 11:20 pm
Forum: Bankruptcy
Topic: Chapter 13 Trustee and Regular Payments
Replies: 0
Views: 1731

Chapter 13 Trustee and Regular Payments

You report the arrears to the court and the trustee will be paying you back on those arrears over time. And your borrower resumes their regular payments on the loan. There's the easy way and the hard way. There's value in simplicity, so let's start with the easy way: First, record a payment of the a...
by wtech_josh
Fri Nov 19, 2021 2:49 am
Forum: Management and Financials
Topic: Amortized Engine Order
Replies: 10
Views: 12634

Re: Amortized Engine Order

Ok, I'm uploading the update now. Open Moneylender and click File > Update to latest version. 2.0.189 is the new version that includes a checkbox to pay regular payment before escrow. Checking that one and the fees one should line up happily with the Fannie Mae rules. :)