Nortridge Software Blog

In a simple interest loan, interest is accrued every day on the outstanding principal balance. The periodic payment amount is fixed, but the….

Let’s say you’re going to borrow $100,000 in a 30-year mortgage. You have two loans to pick from. One is at a 12%….

Should you use simple interest or the Rule of 78s when calculating interest on a loan? Let’s compare both to see why it….

Charles de Gaulle, the famous French statesman and WWII general, said, “You have to be fast on your feet and adaptive, or else….

What is a balloon payment? This is a complex question, because in general, the answer requires context. In specific terms, the definition of….

Big data is changing both consumer behavior and loan products. Consumers will have an easier time ‘rate shopping.’ With quick and easy access….

According to Generally Accepted Accounting Principles (GAAP) in lending, for many loan types, you must stop accruing interest into income when a loan….

Several years ago before joining Nortridge, I worked as a loan servicing manager at a financial institution that purchased commercial distressed debt. The….

If you are like many consumer lenders in today’s markets, you want your borrowers to be able to go onto your website, look….

Running a profitable lending business; especially one that is experiencing dramatic growth or a changing regulatory climate; can be a difficult task. Often,….

Get the information you need at the Nortridge Online Community. This new community provides a forum where your Nortridge Loan System questions are….

Snervicing and collecting on loan portfolios can be a very time-consuming and resource-heavy job. Wouldn’t it be great to eliminate the need for….

Are you getting the most out of your marketing dollars? Consumer finance companies are in a dog-eat-dog world right now. What used to….

What are you good at? What is your business good at? Too often in business, as in life, spending our valuable time and….

April 23, 2013 Collecting baseball cards: Easy. Collecting on delinquent loans or written-off debt: Difficult. If only it were easy as collecting baseball….

As mentioned in the Entrepreneur Magazine article, “10 Ways to Grow Your Business,” taking your business to the next level may require you….

In a standard installment loan, given the parameters: principal, periodic interest rate, and number of payment periods, we can solve for payment amount….

March 13, 2013 Most loan docs for consumer installment type loans have a field called ‘Finance Charge’ which is supposed to represent the….

When is a payment not a payment? When is a transaction that is not called a payment, actually a payment? These are questions….

Back when I spent most of my time doing trainings and implementations for new customers, I had an interesting conundrum come up: A….

A pair of Nortridge customers are prominently listed in Inc.’s “Hire Power Awards” featured in the magazine’s January 2013 edition. Pacific Dental Care,….

In Part 1 of our series on how to calculate APR, we discussed the mathematical procedure for deriving the APR from a payment….

The good news: You just won that large pool of distressed debt loans. The bad news: You’re not in a position to maximize….

August 29, 2012 Striking a balance between “critical” and “optional” data You just purchased a bundle of loans. You need to enter all….