Search found 37 matches

by wtech_josh
Wed Jul 08, 2020 1:57 pm
Forum: End of Loan
Topic: Credit when closing a loan, payoff quote with closing fees
Replies: 1
Views: 145

Re: Credit when closing a loan, payoff quote with closing fees

The box on the payoff quote window is a place to enter tentative fees that you’ll charge if the borrower actually pays off the loan. When recording the payoff payment and closing the loan, if you have such fees, add them to the loan before closing on the Settings tab > Other Fees section. Record the...
by wtech_josh
Wed Jul 08, 2020 1:56 pm
Forum: End of Loan
Topic: Credit when closing a loan, payoff quote with closing fees
Replies: 1
Views: 145

Credit when closing a loan, payoff quote with closing fees

When I use Pay-Off calculator I add closing costs and a total is printed on a letter that I mail. See attached as example. Today I received the $903.73 and posted the payment using the drop down “Final Payment” Then I go to close account and I get the message that the Borrower has paid more and has ...
by wtech_josh
Wed Jul 08, 2020 1:49 pm
Forum: Configuring Loans
Topic: Adding payment to cover future due dates...
Replies: 1
Views: 113

Re: Adding payment to cover future due dates...

There’s a button on the Payments tab with three money stacks . This button is to split a payment against future due dates. Click that, enter the payment amount, and it’ll show you how it plans to divide and record the funds. It’ll create multiple payment records for you. The logic it follows is to p...
by wtech_josh
Wed Jul 08, 2020 1:46 pm
Forum: Configuring Loans
Topic: Adding payment to cover future due dates...
Replies: 1
Views: 113

Adding payment to cover future due dates...

A customer who's payment is due on the 15th and is current wanted to make this month's payment and next month's payment. They said they did not want it going to principal only, they specified it for two payments. When we entered the total of the two payments in the ML payment screen as usual the mai...
by wtech_josh
Wed Jul 08, 2020 1:44 pm
Forum: Installation / Portfolio Setup
Topic: Access to the path 'C:\ProgramData\Whitman Technological\Moneylender Professional\settings300.txt' is denied.
Replies: 1
Views: 141

Re: Access to the path 'C:\ProgramData\Whitman Technological\Moneylender Professional\settings300.txt' is denied.

The ProgramData folder is hidden, but if you type it into the address (or show hidden folders) you’ll see it there. If this is on a server, then the chances are that the user that logged into the server and started Moneylender doesn’t have read/write permission to this folder/file for some reason. O...
by wtech_josh
Wed Jul 08, 2020 1:40 pm
Forum: Installation / Portfolio Setup
Topic: Access to the path 'C:\ProgramData\Whitman Technological\Moneylender Professional\settings300.txt' is denied.
Replies: 1
Views: 141

Access to the path 'C:\ProgramData\Whitman Technological\Moneylender Professional\settings300.txt' is denied.

See the error message below received when opening Moneylender yesterday morning on our network server. According to the message you received a notice already, any idea what is wrong? The directory C:\ProgramData… doesn’t exist. The other workstations can open the program in single user mode. mlp_acc...
by wtech_josh
Wed Apr 15, 2020 4:02 pm
Forum: AutoPay Service
Topic: Where are the AutoPay payments? I don't see them on the Payments tab.
Replies: 0
Views: 3801

Where are the AutoPay payments? I don't see them on the Payments tab.

I opened Moneylender and the payments I got through AutoPay aren’t there. Why not? In most cases, this is because the AutoPay synchronization happens two minutes after the portfolio opens. Upon opening the main window loads, so Moneylender waits before doing anything to give that a little time to c...
by wtech_josh
Tue Apr 07, 2020 4:47 pm
Forum: AutoPay Service
Topic: Agreement text for AutoPay bank override.
Replies: 0
Views: 3064

Agreement text for AutoPay bank override.

AutoPay normally collects the borrowers bank account and authorization directly from the borrower electronically. There is an option in Moneylender to input the borrower's bank account yourself. If you use this option, you need to keep the borrower's signed authorization to do ACH transactions on fi...
by wtech_josh
Fri Apr 03, 2020 3:02 pm
Forum: Management and Financials
Topic: The first payment is applying entirely toward interest!
Replies: 0
Views: 4300

The first payment is applying entirely toward interest!

You create a loan and add some payments. The first one or more payments on the loan are applied entirely to interest and no principal. What's happening? It's usually one of two things… In the Loan Wizard, you have the choice to have interest on the payment schedule (like most mortgages and car loan...
by wtech_josh
Mon Mar 23, 2020 11:57 pm
Forum: Management and Financials
Topic: Oldest Due Date on Payment Reports missing dates / same date more than once
Replies: 0
Views: 3540

Oldest Due Date on Payment Reports missing dates / same date more than once

The value for this column is the closest thing to a due date to which a payment is applied. If you see a date more than once in this column, it means the first payment with this date wasn't enough to advance the loan to the next due date. Subsequent payments with this due date were required to finis...