Moneylender Forums

At the latest, 12/31/2020. Moneylender won't print them until 1/1 anyway (it runs the numbers for the previous calendar year when generating the templates). So, anytime after the new year, follow the steps on this page to generate your 2020 Form 1098s. https://moneylenderprofessional.com/help3/guide...

When do you expect to have 1098 Forms for year 2020 available?

Here are the videos that come to mind: General Introduction – create portfolio, add loans, add payments, print statements, run reports: https://www.moneylenderprofessional.com/help3/ Details on everything on the Settings tab – all the particulars of what different configuration options will do: http...

I saw a video about setting it up. An hour or so, I think. Can you point me in the right direction to find all of your tutorials?

This has an easy answer – add an adjustment of $1400 to the EscrowDue account (Settings tab > Adjustments section > New (plus) button > set account to EscrowDue). This tells Moneylender that there’s $1400 scheduled to be collected into the escrow account. Because regular payments always pay any escr...

I have a loan where the borrower owes $1,400 for pro-rated property taxes. This was not collected at closing but is due before December 31st. What is the best way to enter this into Moneylender? My thoughts were to enter it as an escrow charge that’s due on December 31st? I want to be sure that it d...

Their lack of understanding does not make them correct. They signed an agreement to pay a debt, and that debt has a written and authorize accumulation of interest and fees. Don’t be afraid that the borrower is upset, it’s not your job to force them to comprehend. You can, by choice offer to help the...

Is that default order you described possible to modify? Another way to ask is how is that default order determined? What is the reason it goes First to escrow then fees then accrues interest then principal. The reason I am asking is that I have a borrower who is Behind by several months They are try...

The default is payments always pay into the Escrow account first, then pay off any fees on the loan, then pay off any accrued interest, and whatever’s left pays principal. This is the same regardless of whether a loan is current or past due. I recently added (like a week or two ago) an option to hav...

In most loans you have Principal, Interest, Escrow & Fees In the amortized engine what is the order in which a payment is applied? If the buyer is late by a few months, and suddenly after 2 or 3 months makes a payment what accounts does that payment get applied to? Does the order in which the pa...