Loan servicing for private lenders, from first draw to final payoff.
PML keeps every loan in one ledger — the pipeline, the interest engine, the maturities, and the payoff — so the numbers you quote a borrower are the numbers in your books.
One pipeline for every loan
Every loan starts as an application and moves through underwriting, funding, servicing, and payoff. The pipeline shows you where each one sits, and you can change a loan's status as the deal changes — including moving it back to an earlier stage.
Steps that touch money have guardrails. A loan has to be in underwriting before it can be funded, so a misclick can't skip the work that protects you. Portfolio deals with more than one property are tracked as a single loan.
How the interest engine works
Interest accrues daily on a 365-day basis. Each loan carries its own note rate, default rate, and late-fee terms, and PML calculates per-diem interest from them every day the loan is outstanding.
You choose the interest basis per loan: the full commitment, or only the balance that has actually been drawn. New loans pick up your organization's default, and you can change it on any loan where the deal calls for something different.
- 365-day daily accrual with per-diem shown on the loan
- Default-rate interest and late fees tracked separately
- Full commitment or drawn balance, set per loan with an org default
- Maturity dates tracked so nothing rolls past due unnoticed
Payoffs that tie out
When a borrower is ready to sell or refinance, PML builds the payoff from the same records that drive servicing: principal, accrued interest through the payoff date, default interest, late fees, and any payoff wire fee. Borrowers can request a payoff from their portal, and the request lands in your Borrower Requests inbox.
You generate the official statement good through a specific date and send it to the title company from the same screen. Because it comes from the ledger, it ties out to the dollar — no second spreadsheet to reconcile.
What you see every morning
The dashboard rolls the portfolio up: active principal, weighted yield, status counts, upcoming maturities, and deployed versus immediate cash. Open any loan and its full history is there — draws, payments, fees, documents, and status changes.
Loan servicing: common questions.
- Does PML use a 360-day or 365-day year?
- PML's interest engine accrues daily on a 365-day basis, with per-diem interest calculated from each loan's own rate.
- Can I charge interest only on the drawn balance?
- Yes. Each loan can accrue on the full commitment or on the drawn balance. Your organization sets a default, and you can change it per loan.
- Does PML track default interest and late fees?
- Yes. Default-rate interest and late fees are tracked on each loan and included in payoff calculations.
- Can a borrower request a payoff online?
- Yes. Borrowers can estimate a payoff and submit an official payoff request from their portal. You generate the statement and send it to the title company.
Related features and guides.
See it with your own loans in mind.
PML is in early access for a small group of active private lenders. Walk through the interactive demo, or tell us about your book and we'll be in touch.