Search found 55 matches

by wtech_josh
Wed Jul 08, 2020 3:11 pm
Forum: Configuring Loans
Topic: Set up a loan with an construction escrow account...
Replies: 1
Views: 1667

Re: Set up a loan with an construction escrow account...

You’ve got a few ways you might tackle it. Probably the easiest – set the interest to a Fixed Currency Amount. If you know the monthly interest on $296,000 is, say, $500/month, you can set the interest rate to 500 and set the rate type to Fixed Currency Amount. mlp-fixed-currency-interest.png Whenev...
by wtech_josh
Wed Jul 08, 2020 3:08 pm
Forum: Configuring Loans
Topic: Set up a loan with an construction escrow account...
Replies: 1
Views: 1667

Set up a loan with an construction escrow account...

I’m wondering if you would advise me on the best way to set up a loan with an construction escrow account. The borrower pays interest on the full loan amount, however, $32000 was withheld at closing to be dispersed as the project is completed. There is not a set draw schedule, rather the amounts are...
by wtech_josh
Wed Jul 08, 2020 2:22 pm
Forum: Statements and Servicing
Topic: E-mail Notices 10 out of 11 failed
Replies: 1
Views: 1778

Re: E-mail Notices 10 out of 11 failed

Your mail server rejected the messages. Try sending them one at a time. Maybe there’s some kind of throttling on how many emails you can send per hour or per day or something. Mail service providers put rate limits on emails (especially free accounts) to help prevent the spread of viruses and spam. ...
by wtech_josh
Wed Jul 08, 2020 2:08 pm
Forum: Statements and Servicing
Topic: E-mail Notices 10 out of 11 failed
Replies: 1
Views: 1778

E-mail Notices 10 out of 11 failed

mlp-emails-failed.png
mlp-emails-failed.png (46.55 KiB) Viewed 1778 times
by wtech_josh
Wed Jul 08, 2020 2:04 pm
Forum: Management and Financials
Topic: Report for cash or short-term loan receivable (one year projection)...
Replies: 3
Views: 2384

Re: Report for cash or short-term loan receivable one year projection...

Oh, ok. So change the amount due column - make the column value be “amount due -minus- fees outstanding” and then the other formulas in the screenshots from my earlier reply work just fine. That way, your projection for the next year shows the total that becomes due, less the assumed late fees when ...
by wtech_josh
Wed Jul 08, 2020 2:03 pm
Forum: Management and Financials
Topic: Report for cash or short-term loan receivable (one year projection)...
Replies: 3
Views: 2384

Re: Report for cash or short-term loan receivable...

The report works well, but look like we should not include the outstanding fees. If we do, it will calculate $10*11 mos of pmt behind. Please advise.
by wtech_josh
Wed Jul 08, 2020 2:02 pm
Forum: Management and Financials
Topic: Report for cash or short-term loan receivable (one year projection)...
Replies: 3
Views: 2384

Re: Report for cash or short-term loan receivable...

The interest is the amount of earned, unpaid interest on the loan, and then the principal is the total due minus the interest. You can set up column values like: mlp-report-column1.jpg And subtract the fees, interest and escrow due from the total amount due. What’s left it the amount that would pay ...
by wtech_josh
Wed Jul 08, 2020 2:01 pm
Forum: Management and Financials
Topic: Report for cash or short-term loan receivable (one year projection)...
Replies: 3
Views: 2384

Report for cash or short-term loan receivable (one year projection)...

Good morning,

i need to run a report for cash or short term loan receivable. As below, we can get total amount due, but can we aslo have two separate columns for accrued PRIN and INT?

Thank you.
mlp-report-projection.jpg
mlp-report-projection.jpg (69.95 KiB) Viewed 2384 times
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: 1896

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: 1896

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 ...