Solved

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

Posted on 2014-07-23
2
458 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
[X]
Welcome to Experts Exchange

Add your voice to the tech community where 5M+ people just like you are talking about what matters.

  • Help others & share knowledge
  • Earn cash & points
  • Learn & ask questions
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

Independent Software Vendors: We Want Your Opinion

We value your feedback.

Take our survey and automatically be enter to win anyone of the following:
Yeti Cooler, Amazon eGift Card, and Movie eGift Card!

Question has a verified solution.

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

Suggested Solutions

Learn about the eCommerce marketing trends for the year ahead.
This article was originally published on Monitis Blog, you can check it here . If you have responsibility for software in production, I bet you’d like to know more about it. I don’t mean that you’d like an extra peek into the bowels of the sourc…
The viewer will learn how to successfully download and install the SARDU utility on Windows 8, without downloading adware.
This tutorial demonstrates a quick way of adding group price to multiple Magento products.

751 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