We are pleased to announce that LoanStar Technologies has chosen J. L. Sherman & Associates as their exclusive partner for the loan and insurance calculations in their MerchantLinQ platform. LoanStar will be using the Sherman Calculation Engine with XML Interface (SCEX) to drive the calculations in MerchantLinQ.

“The SCEX allows us ultimate flexibility in the calculation of payment options to consumers at the point-of-sale. Not only do they support us in a way that can match our LOS partners, their knowhow allows us to focus on differentiating to the merchants, instead of worrying about calculation methodologies.”

— Andrew Turner, CEO, LoanStar Technologies

LoanStar provides their MerchantLinQ platform to banks, credit unions and finance companies seeking to originate consumer loans at the point-of-sale. MerchantLinQ includes a series of tools that enable home improvement contractors, medical practitioners, small vehicle/lawn/garden dealers and renewable energy contractors to position payments with a consumer. The positioning of the financing option on their goods/services through a local lender’s brand enables uplift in adoption.

LoanStar delivers MerchantLinQ as an add-on to existing LOS systems focused on retail or indirect lending and has partnerships with 12 LOS platforms today. Additionally, LoanStar can couple their technology with a sales team that aggregates merchant relationships on behalf of the lender.

Farm Credit Mid-America is an agricultural lending cooperative owned and controlled by Farm Credit customers. With more than 1,200 employees, Farm Credit serves nearly 100,000 customers throughout Indiana, Ohio, Kentucky, and Tennessee.

The CFPB is adjusting two dollar amounts that are used in the “points and fees” trigger for coverage under HOEPA for calendar year 2018. The two dollar amounts are (1) the loan amount threshold (changing from $20,579 to $21,032), and (2) the total points and fees amount (changing from $1,029 to $1,052). All of our core products have been updated to include these new amounts, ensuring that your organization is compliant with the new year’s values.

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. The company operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.

In July 2015, the Department of Defense issued a final rule amending the Military Lending Act’s (MLA) protections. Though the rule took effect October 1, 2015, it did not require immediate action by financial institutions. However, this final rule outlined two specific dates on which MLA’s protections will become effective: October 3, 2016 (consumer loan products with the exception of credit cards) and October 3, 2017 (credit cards).