We are pleased to announce that Fidelity Information Services, now FIS, has chosen J. L. Sherman & Associates as their exclusive partner for the loan and insurance calculations in their FIS Loan Origination (FLO) service. FIS will be using the Sherman Calculation Engine with XML Interface (SCEX) to drive the calculations in FLO.

Sherman’s WinLoan-32 loan quotation software, already recognized as the best sales tool for increasing payment protection (credit insurance/debt protection) income, is constantly enriched by our clients’ great ideas. Our two newest innovations are perfect examples of this relationship.

A major frustration among payment protection managers has been the tendency of some loan officers to simply request a payment without protection. We now offer a setup file option to make the menu screen mandatory. Clicking [Calculate] takes you directly to the Menu Screen, with all the protection plans presented, and the no protection plan at the bottom. The Entry Screen for this setup option is below:

The Sherman programming team has been busy again! Our consumer loan calculation engine, the powerhouse SCEX, can now be run on the popular open source platform, Linux. While Windows may own a large majority of the desktop market, more and more application providers are using back-end systems powered by Linux due to its robust and easily accessible nature.

Our Sherman Calculation Engine with XML interface (SCEX), already the industry standard, continues to expand at our customers’ requests. The SCEX has become the calculation engine of choice for Loan Origination Software (LOS) providers across the country, as well as financial institutions seeking to develop their own platform systems.

WinLoan-32’s new tabs ( Consumer, Commercial, Mortgage) allow users to switch types of loans without jumping to change setups. The following scenario explains the usefulness of the new loan type tabs.

Previously with WinLoan-32, suppose a loan officer computed a consumer loan, such as an auto loan, and his next customer was interested in a mortgage loan. If the mortgage loan used different setup parameters, he had to go into the Setup Files, then the Account Setup, and select the Account corresponding to mortgage loans. That’s several clicks! The loan officer would then need to switch back for consumer loans. If these different loan structures have different setup files, forgetting to switch would lead to incorrect results.