News - page 11
New Loan Type Tabs for WinLoan-32
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.
... (Read on for more information)Four New Enhancements to the SCEX
We find that the frequency of enhancements made to the engine is accelerating as
we add more and more new users. Most enhancements are specific to a particular
calculation required by a single lender or credit insurance carrier, but
sometimes they are extensions of capability in loan structures, and of interest
to most of our users. We think that is the case here, and so what follows
deserves to be included in “What’s New”.
Introducing the SCEX Account Tester
As the number of loan origination software providers using our
SCEX has grown, so has the number of new lenders relying on
SCEX calculations each month. This, in turn, means more SCEX enhancements as we
encounter situations that require adding a new calculation path to precisely
match a client’s numbers. We developed a set of tools for our own internal use
to aid in the testing of these additions that automatically re-computes hundreds
of loans and identifies any that have changed. One of our senior programmers
suggested that this could be modified to be a very useful tool for our
partners as well.
eWinLoan - Redesigned and Ready!
Our newly redesigned eWinLoan is now finished and ready for delivery.
eWinLoan, J. L. Sherman and Associates’ Internet loan quotation system, is built on the industry standard Sherman Calculation Engine (SCE). The SCE is the choice of loan origination software providers throughout the industry. Why settle for anything less powerful or flexible in your loan quotation software?
... (Read on for more information)Deposit calculations Now Available
While lending calculations have certainly been our bread and butter, our
mathematical experience extends into many different areas of your financial
institution’s needs. In the past, we provided deposit calculations for some of
our customers on a custom basis. Now, in response to requests from some clients,
we have added deposit calculations to the WinLoan family of software.
WinLoan-32 and the Sherman Calculation
Engine now offer IRA and CD calculations. Take a look at some
of the specifications below. Of course a wide array of compounding frequencies
and interest accrual methods are available in these calculations.