Solved

What mortgage program will allow loan amortization, log payment and payments to contributors?

Posted on 2014-07-23
2
438 Views
Last Modified: 2014-08-22
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?
0
Comment
Question by:100questions
2 Comments
 
LVL 29

Accepted Solution

by:
coreybryant earned 500 total points
ID: 40257123
TimeValue might have what you need but you might need to customize it.  It might be a lot cheaper to build it yourself.  Or talk to some other banks - for example, Bellco in the United States created its own IT department to handle everything and now that company - Open Tech Solutions - has about five or six credit unions that it manages
0
 

Author Closing Comment

by:100questions
ID: 40279067
Thank you.  I have not tested these programs and therefore I cannot say if this would be a solution, however I need to close this since I cannot ask any more questions.
0

Featured Post

Simplifying Server Workload Migrations

This use case outlines the migration challenges that organizations face and how the Acronis AnyData Engine supports physical-to-physical (P2P), physical-to-virtual (P2V), virtual to physical (V2P), and cross-virtual (V2V) migration scenarios to address these challenges.

Question has a verified solution.

If you are experiencing a similar issue, please ask a related question

Suggested Solutions

If you’re thinking to yourself “That description sounds a lot like two people doing the work that one could accomplish,” you’re not alone.
This article will inform Clients about common and important expectations from the freelancers (Experts) who are looking at your Gig.
This video demonstrates how to use each tool, their shortcuts, where and when to use them, and how to use the keyboard to improve workflow.
Using Adobe Premiere Pro, the viewer will learn how to set up a sequence with proper settings, importing pictures, rendering, and exporting the finished product.

777 members asked questions and received personalized solutions in the past 7 days.

Join the community of 500,000 technology professionals and ask your questions.

Join & Ask a Question