How to Build A Foundation For Compliance
In my business of loan management software, one of the hottest topics is “Compliance.” That’s in quotes, because Compliance with…
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Why Mortage Loans Are Fixed Amortized
In a simple interest loan, interest is accrued every day on the outstanding principal balance. The periodic payment amount is…
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The Relationship Between Interest and APR
Let’s say you’re going to borrow $100,000 in a 30-year mortgage. You have two loans to pick from. One is…
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Flexibility: The Difference Between Triumph and Disappointment
Charles de Gaulle, the famous French statesman and WWII general, said, “You have to be fast on your feet and…
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The Math Behind Simple Interest and the Rule of 78s
Should you use simple interest or the Rule of 78s when calculating interest on a loan? Let’s compare both to…
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Balloon Payments Explained
What is a balloon payment? This is a complex question, because in general, the answer requires context. In specific terms,…
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Top 4 Lending Trends of 2013
Big data is changing both consumer behavior and loan products. Consumers will have an easier time ‘rate shopping.’ With quick…
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Turning Off Accrual Processing Is Not Non-Accrual Loan
According to Generally Accepted Accounting Principles (GAAP) in lending, for many loan types, you must stop accruing interest into income…
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Borrower Portal A Jumping Off Point
If you are like many consumer lenders in today’s markets, you want your borrowers to be able to go onto…
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