IAC has selected the SCEX to supply all of the loan, insurance, and debt protection calculations for IAC’s new software, FourPoint. We are very pleased to announce a new partnership with one of our long time customers, Individual Assurance Company (IAC). Our Sherman Calculation Engine with XML interface (SCEX) will now supply all of the loan, insurance, and debt protection calculations for IAC’s new software. The IAC software will work beside lenders’ systems to promote and process the sale of credit insurance (whether single premium or MOB) and debt protection products. From the initial quote, through the monthly collection, reconciliation, and reporting processes, the IAC software will help generate increased fee income for lenders. With our SCEX at the front end of the IAC software, IAC’s clients are assured of accurate calculations and disclosures for all of their loan, insurance, and debt protection products.

As of April 1^st, North Dakota has implemented new restrictions regarding the calculation of single premium credit life insurance. We encourage you to contact us if you have any questions regarding the mathematics of these new methods. Our consulting packages can help dissect the regulations into exactly how it will affect your premiums. We have extensive experience with these methods, and have them programmed in virtually all of our loan quotation solutions. Contact our sales department to find out more information.

In response to recent changes in the insurance and debt protection industries, we’ve added a significant number of new MOB and Debt protection methods to the functionality of our WinLoan-32, eWinLoan, and Calculation Engines.

In addition to the new HOEPA tests we’ve added to our WinLoan-32 software, we’ve also added a page to the support section of our website detailing the HOEPA regulations and how our software can assist you in maintaining compliance. Take a look at the HOEPA page to find out how easy it really is.