Multiple lenders on a loan

[mark415]

Hi Josh,

I am originating one loan with two lenders. In Loan Settings I have indicated the appropriate ownership percentage for each lender.

I have always run a monthly report for each lender that includes a "Payment Amount". For this loan that entry shows the total payment received allocated only to the "Primary Lender".

How do I generate a report that shows the allocation between the two lenders?

Thanks,
Mark

[wtech_josh]

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

[mark415]

Hi Josh,

I have a custom report that includes the field Payment:Amount. Perhaps I'm not selecting the right field for that report?

Thanks,
Mark

[wtech_josh]

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. The settings set the rules and the calculator generates the transactions.

A payment is a setting that says $X was received from the borrower. The calculator uses the information from a single payment on the Payments tab to potentially create: a negative transaction to the amount due, a negative transaction on the escrow due account and a positive one on the escrow account, a negative transaction on the fees if any fees are outstanding and depending on which loan settings are operative and the amount of the payment, negative transactions on the interest and principal and interest-bearing and ledger accounts. Also perhaps negative transactions on any of the three extension accounts. And then moneylender will do some math and create positive transactions for the discount earned accounts for each sublender that has ownership at the time of the transactions. Sometimes the transactions for a payment don't actually occur on the date of the payment setting (payments on the 30th being applied on the following 1st, for example). As these various transactions are generated, Moneylender copies the numbers back onto properties of the payment record to make reports like the payment distribution possible.

That one payment setting triggers a small cascade of transactions on the various accounts of the loan. The fractional ownership is operative only on the transactions themselves, not on the payment setting. A payment of $X was made, but the lender actually owns 50% of the interest and principal and fees from the transactions generated.

You'll want to run something like the Investor Report with the specific lender chosen to get the individual stake each lender has in the loans they own for a given period of time. If an investor owns a stake in multiple loans, each loan is listed with the investor's slice, and totals at the bottom. You can add lots of columns to that report - https://moneylenderprofessional.com/hel ... cords.aspx

[mark415]

Hi Josh,

Thanks for the detailed explanation. I should have been using the investor Report all along anyway. It's better for tracking amortization.

Thanks,
Mark