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.

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”.

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.

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?

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.