J.L.Sherman&Associates,Inc.

The Leader in Loan Quotation and Loan Calculation Software

News - page 4

 

APR Compliance Software for Irregular Cash Flows

Submitted 2014-04-24 08:35:00 -0700

The SCEX family of products features loan calculation and compliance software for the end user, as well embedded solutions for partners to use in their own end user applications. Just over a year ago, we published an article entitled APR Calculation Software for PayDay Lenders. This article discusses the allowed 1/8% APR disclosure tolerance, and how dangerously easy it is to violate this Federal restriction, when the APR is in the hundreds of one percent. Finally, the article introduces our APR compliance software as a complete solution to this critical, highly sensitive, and difficult calculation.

... (Read on for more information)
 

HOEPA Changes for January, 2014

Submitted 2013-10-12 11:12:00 -0700

The SCEX is loan calculation software that can be embedded within your own
application, supporting consumer, commercial, and mortgage loan
calculations. The Home Ownership and Equity Protection Act (HOEPA) was enacted in 1994 as an amendment to the Truth in Lending Act (TILA) to address abusive practices in refinances and closed-end home equity loans with high interest rates or high fees. Mortgage loans which fall under HOEPA (hereafter called High Cost Mortgages, or HCMs) are subject to special disclosure requirements and restrictions. Since the very early days of the Sherman Calculation Engine with XML interface (SCEX) (circa 2002), J. L. Sherman and Associates has provided functionality to check if a given loan falls under the HOEPA regulation, and it is used by many of our partners today.

... (Read on for more information)
 

New Partnership with Cash Time Loan Centers

Submitted 2013-08-21 15:09:00 -0700

WinLoan-32 is our loan calculation and quotation software for the Windows desktop, supporting consumer, commercial, and mortgage loans. We are happy to announce that Cash Time Loan Centers has selected J. L. Sherman & Associates as their exclusive partner for loan calculations within their loan origination system. Cash Time is using the Sherman Calculation Engine with XML Interface (SCEX) to drive the calculations within their new system.

... (Read on for more information)
 

Key Sales Tool Features of WinLoan-32 and eWinLoan

Submitted 2013-08-07 13:35:00 -0700

eWinLoan and WinLoan-32 contain key sales too features that are helpful when working with your customers. If your organization is interested in increasing both borrower satisfaction and fee income from payment protection sales, then eWinLoan and WinLoan-32 (J. L. Sherman & Associates two end-user loan quotation products) were developed with you in mind.

... (Read on for more information)
 

APR Calculation Software for Payday Lenders

Submitted 2013-03-19 13:12:00 -0700

The SCEX family of products features loan calculation and compliance software for the end user, as well embedded solutions for partners to use in their own end user applications. Within the past few years, the lending market has seen explosive growth in the number of payday lenders. Their short term small loans often result in APR values in the hundreds of percent. Calculating an APR value in compliance with Regulation Z for this type of loan is far more difficult than for more typical installment loans.

... (Read on for more information)