Nortridge Software Blog

Best Practices in Selecting Loan Servicing Software

The ultimate buying guide on how to buy loan software. Recommendations from industry experts.

Guide January 23, 2017

The Unforeseen Economic Consequences of Thanos "Finger Snap"

Thanos snaps [his fingers] and half of the people are gone. Aside from Spiderman, Black Panther, Doctor Strange and many others...

Blog June 20, 2018

Han Solo's Debt Revisted

A long time ago (in a galaxy far, far away), I concluded that with an initial debt of 10,000 Imperial Credits and a loan with a one-week 15% interest rate, that with weekly compounding, we had an annual interest rate of 780% and an APR of 143,580%.

Blog June 1, 2018

Keys to a Successful Nortridge Loan System Implementation

Rather than scratch the surface that has been scratched so many times, I’m going to get down into the weeds and talk about implementation success in more detail. The topics here are not in order of importance, but they are also not arbitrary.

Blog December 20, 2017

Tournament Poker Variance and Backing

Poker tournaments are big business today, and for some players are fun to play and even make for a televised spectator sport. These tournaments also happen to have some interesting math associated with them.

Blog August 9, 2017

Turning Data to Gold

Learn the value of data and how you can use it to increase business efficiency and profitability.

Blog June 21, 2017

Data - The New Moat for Lenders

The word around Wall Street and Silicon Valley is machine learning is going to revolutionize every industry – including financial services. That is, if the technology lives up to its hype, it will solve the mother of all problems: how to price and predict borrower risk.

Blog June 8, 2017

What is the Effect of Beginning or end of Day Accrual on APR?

Does the loan accrue its interest on the morning (pre-payment) principal balance, or does it accrue on the evening balance after payments have been posted for the day?

Blog April 17, 2017

Calculating an Amortized Payment

When you have a loan where the payment is a fixed amount, to be divided on a monthly (or other periodic) basis between interest and principal, how do you calculate the correct payment that will cause that loan to pay off in the specified term?

Blog March 30, 2017

Calculating APR: Part 2

In part 1 of our blog on how to calculate APR, we discussed the mathematical procedure for deriving the APR from a payment flow. Today, we are going to look at the effect of having an extra 19 days in the first period.

Blog February 27, 2017

Trends to Watch in 2017

Making predictions in the ever-changing lending and financial markets is indeed speculative at best, but it's worthwhile to see what various experts and outlets believe are the trends to watch and the pitfalls to avoid.

Blog January 20, 2017

How to Make Credit Cards Work for You

It's never been more exciting to own a credit card now. Here are my reasons why.

Blog January 3, 2017

The Giants Awaken

Online lenders will soon have to go head to head with the big banks.

Blog September 1, 2016

Calculating APR (Part 1)

Part 1 of calculating APR going into specific detail in documentation by the U.S. Government.

Blog August 19, 2016

Implementing Loan Servicing Software

Top Three Keys to Successful Implementation of New Loan Servicing Software

Blog July 28, 2016

Roman Numerals in Lending

What Do Star Trek, The Roman Age, and Lending Have in Common?

Blog June 30, 2016

Regulations Lag

As an industry, we may be misconstruing lending regulations. Regulations have been the main focus of the lending industry. However regulations are a lagging indicator.

Blog April 29, 2016

Competitive Advantage

Changing the Competitive Landscape: How Consumer Lenders Can Make Competition Irrelevant. Clues in the blue ocean strategy.

Blog November 16, 2015

Scripting Story

Aaron goes over how to convert a complicated formula based on the Black-Scholes model of pricing security options from excel to a script.

Blog October 30, 2015

The History of Lending | Part 4

The world of "modern" lending before computers by looking at the 30 year mortgage.

Blog September 30, 2015

Software for CFPB Compliance

Software won't make you compliant, but it should provide the necessary tools to do so. Here are some useful tips on functionality.

Blog September 1, 2015

The History of Lending | Part 3

Roman Era. The Catholic Church forbade the lending of money with interest, so guess who picked up the slack?

Blog August 5, 2015

The New Lending Arena

We know banks and traditional lenders are being disrupted by the rise of fintech. But how about an online lender vs. another online lender? Or a modern CDFI against another modern CDFI? Here are some quick, fun, short scorecard items to better compete.

Blog June 30, 2015

The History of Lending | Part 2

Greece, Rome, and the temple banking system. The early lending system based on a 12% rate.

Blog June 26, 2015

Improve Your Website

With the popularity that peer-to-peer lenders and other online models bring to the financial industry, there is no better time to start thinking about improving the experience users have with your website, and therefore, your brand.

Blog May 26, 2015

The History of Lending | Part 1

Blog May 20, 2015

It turns out priests were the best qualified to lend, and if you defaulted and couldn't pay, you could become an indentured servant. Yikes!

7 Q's to Ask As You Shop for New Software

Shopping for new loan servicing software can be a daunting task. Sometimes it's difficult to know where to begin. This list of seven questions will get you started.

Blog April 29, 2015

The History of Money | Part 5

Dollars and Pieces of Eight Makes Cents.

April 17, 2015

Why We Salted Our Hashes

It's data security and data integrity. We are not talking about breakfast here.

Blog March 30, 2015

The History of Money | Part 4

In for a Penny, In for a Pound

Blog March 12, 2015

Payday Lenders Changing Tides

Blog February 27, 2015

Why Payday Lenders Are Moving Toward Traditional Consumer Lending Models, in part due to the CFPB.

The History of Money | Part 3

The Aes, the Denarus, and the Arus (Copper, Silver, and Gold

Blog February 10, 2015

Planning for 2015

Practical Advice and Interesting Concepts for your lending strategy for 2015.

Blog January 29, 2015

Top Lending Trends to Watch in 2015

There are a number of lending trends to watch. We present several here that we saw in 2014 and expect to carry on into 2015. We arrived at them from the conversations we’ve had with our customers and from the changes we’ve noticed in the industry.

Blog January 5, 2015

The History of Money | Part 2

In the centuries following the Trojan War (approximately 1200 BC), the Bronze age cities of Greece formed complex trade-based economies. The currency was, naturally enough, bronze. The unit of exchange was the Obol.

Blog November 30, 2014

Vendor Due Diligence

There's no doubt about it. You want to do some solid research before hitching your wagon to service providers, including (but not limited to) product developers, telemarketers, and call centers. It's not only smart - it's a requirement.

Blog November 20, 2014

The History of Money | Part 1

Barter and the Invention of Coin.

Blog October 31, 2014

High Finance

A Fun Look at Airplane Financing Terms.

Blog October 27, 2014

P2P Lending Intro

Have you been wondering what peer to peer lending is? Here's the gist.

Blog September 30, 2014

Data Storage: How Many Words Is A Picture Really Worth?

How Many Words Is A Picture Really Worth?

Blog September 11, 2014

UDAAP Violations?

Put yourself in the consumers shoes before rolling out a new product and ask yourself if any part of the process looks or feels unfair, deceptive, or abusive. If it feels that way, it probably is.

Blog August 28, 2014

How Much Did Han Solo Owe?

Any Star Wars fans wondering the same question?

Blog August 14, 2014

Two Insights that Metrics Don't Give You

Let go over the inherent shortfalls of some common metrics, such as financial statements and sales reports.

Blog July 29, 2014

Catch-up: TCPA Law

The latest Telephone Consumer Protection Act (TCPA) law from the FCC, effective October 16, 2013, is on the street in full force. We should all pay attention.

Blog July 23, 2014

Are Electronic Signatures Fully Enforceable?

The fact is that the e-signature is every bit as strong as the paper signature.

Blog June 27, 2014

Loyalty By Telling Stories

Here's the best marketing advice for the lending industry: Tell the story behind the loan. It's 100 times more memorable, it engages emotionally, and it is the best way to build a brand.

Blog May 30, 2014

Best Practices for Database and Version Upgrade and Testing

Here is a list of the optimal procedures for initiating an upgrade of the software version on the client computers and performing the database upgrade to be compatible with the new client software version.

Blog May 23, 2014

The Hiring Conundrum

How do we learn to work smarter, faster and more efficiently? What can be leveraged to give us a competitive advantage in the marketplace? What tasks can we eliminate or change to take less time? How do we gain a viable edge in an emerging market?

Blog April 28, 2014

Accounting for Reverse Mortgages

A reverse mortgage is a loan with no regular payment required, but equity may be cashed out through regular payments from the lender to the borrower.

Blog April 17, 2014

Humanizing Marketing

There is something intrinsically appealing about truly connecting with your audience. In the world of marketing, that means being honest about your intentions, presenting clear and transparent information to your potential customers, and not selling.

Blog March 27, 2014

So What the Heck is the Money Supply Anyway?

Money is a strange thing. It has elusive properties that no other thing in our experience seems to have. If I have a $100 bill, I have some money. If I give it to the bank, I have money in the bank, but the bank also has the money. Did the money just double?

Blog March 11, 2014

How To Build A Foundation For Compliance

One of the keys to a compliant lending operation seems really obvious and straightforward - manage all workflow systematically.

Blog February 26, 2014

Why Mortgage Loans Are Fixed Amortized

In a fixed amortized loan, the balance accrued on and the breakdown of the payments is preset and not dependent upon the day payments come in. If a payment is applied early, the loan will continue accruing on the principal balance prior to the payment, until the due date is reached.

Blog January 31, 2014

The Relationship Between Interest Rate and APR

There are two factors that can cause the APR to deviate from the stated interest rate.

Blog January 13, 2014
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