Moneylender Professional - Loan Servicing Software

Loan Menu

Loan Menu Available from the Main Menu, the Loan menu allows you to perform all tasks related to a single loan. Most of the items on this menu are not available unless there is a single loan selected in the list of loans.

New Loan opens the Loan Wizard with a new loan record. When the wizard completes, the loan is recorded in the portfolio.

Loan Wizard

New Loan from Template lets you set up a new loan using a specific template: mortgage, auto or personal, construction, Flexloan, or miscellaneous.

New Loan from Template

Payoff Calculator - The Payoff Calculator determines the payoff amount for a specified date. You can also record loan payoffs and charge-offs.

Payoff Calculator

Recalculate Loan - To save processor time, loans are calculated when records are changed, such as adding a payment or changing the interest rate. This is usually sufficient during ordinary servicing of a loan.

If a loan becomes delinquent or otherwise changes, it may be necessary to click Recalculate Loan. This lets you update information, such as Amount Due and Amount Past Due, in order to print a current statement. The loan status is computed in real time based on the due date of the next payment. It is not affected by the calculation process.

Edit Loan opens the Loan Wizard with the currently selected loan. You can make changes to the loan in case you entered the wrong dates or interest structures. If you are changing the interest rate or regular payment during the course of a loan, use Rates > Change Rate or Regular Payment > Change Regular Payment from the Loan menu.

Loan Wizard - Edit Loan

Close Loan - After a loan is repaid or sold and the appropriate payment information is noted in the records (for report accuracy), use Close Loan to mark the loan as closed and hide it on the list of loans. Clicking the Show Closed Loans button on the toolbar displays all open and closed loans in the portfolio. Clicking the Show Closed Loans button again hides closed loans.

Delete Loan removes erroneous records from your portfolio. This permanently removes the payment and other records, and they are not reflected on reports. Do not use this to remove closed loans. Use Close Loan instead.

Loan Menu - Payments Payments has two submenu items for managing the payments associated with the currently selected loan:
Payments > New Payment opens the payment dialog with a new payment record bound to the current loan.
Payments > Manage Payments opens the Manage Payments dialog, showing all payment records that apply to the currently selected loan. Payments may be created, edited, and deleted from this dialog.

Loan Menu - Rates Rates has two submenu items for managing the interest rate over the life of a loan:
Rates > Change Rate allows you to create a rate record that sets the interest rate on a loan as of a specific date.
Rates > Manage Rates opens the Manage Rates dialog for creating, editing, and deleting interest rate records.

Loan Menu - Other Charges Other Charges has three submenu items for creating and managing fees associated with the selected loan and a third party:
Other Charges > Prorated Fee Wizard is useful for applying a fee over a specific number of payments. For example, if bi-annual payments are due in relation to a loan that pays monthly, the Prorated Fee Wizard can split the amount evenly over six loan payments.
Other Charges > New One-Time Fee can be used to record a fee that applies once, such as a bounced check fee.
Other Charges > Manage Fees opens the Manage Associated Fees dialog for creating, editing, or deleting any of the fees associated with the selected loan.

Loan Menu - Regular Payment Regular Payment has two submenu items for adjusting the regular payment (the amount due each payment cycle). Regular Payment > Change Regular Payment creates a new regular payment record specifying the regular payment amount and the date the new amount applies.
Regular Payment > Manage Regular Payments opens the Manage Regular Payment dialog for creating, editing, and deleting regular payment changes on a loan.

Loan Menu - Late Fee Settings Late Fee Settings lets you modify late fee settings for a selected loan.

Change Borrowers opens the Borrowers dialog from the Loan Wizard, allowing you to change which borrowers are associated with the loan.

The Lender Menu contains two sub-menus.
Loan Menu - Lenders Change Lender opens the Lender dialog from the Loan Wizard, allowing you to assign the loan to a different lender.
Multiple Lenders lets you add lenders associated with a loan, specificying time periods and interest rates.

The Export Selected Menu lets you export files to an external portfolio.

Loan Menu - Export Selected To choose all loans on the screen, click on Select All Displayed Loans.

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