What mortgage program will allow loan amortization, log payment and payments to contributors?
Posted on 2014-07-23
There is a need for a mortgage software program, which will not only calculate Canadian Loan Amortization schedules, but also log payments coming in from customers that are paying off their mortgage, but also log the percentage and calculation for contributors.
For instance customer A, takes out a mortgage of 100,000. A Canadian Loan Amortization schedule needs to be produced, so that customer A makes payments monthly etc.. 5 Contributors towards a fund have contributed/invested a certain amount to the fund, so that the loan can be given to the person/organization requesting the mortgage. When a cheque is received for payment of the mortgage, based on the % that was agreed for each of the contributors, a cheque needs to be provided to each of them for their cut.
Is there a mortgage program that someone can recommend which would do the above functions?