J.L.Sherman&Associates,Inc.

The Leader in Loan Quotation and Loan Calculation Software

News - page 7

 

SCEX Adds New Mortgage Capabilities

Submitted 2011-10-12 11:00:00 -0700

The SCEX is loan calculation software that can be embedded within your own application, supporting consumer, commercial, and mortgage loan calculations. Each quarterly release of the SCEX increases its lead as the most functional loan calculation engine, as we continue to implement enhancements requested by our partners.

Recently, many of these enhancements have been made in the area of mortgage calculations. At the end of 2010, the MDIA (Mortgage Disclosure Improvement Act) changes were implemented to ensure that our partners were within compliance by the time the new regulation was mandated. With our most recent release, the following enhancements have been made in the areas of PMI and FHA MIP (Mortgage Insurance Premium) calculations:

... (Read on for more information)
 

MDIA 2010 Enhancements Completed

Submitted 2011-01-27 11:10:00 -0800

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. As promised in our Recent News segment on November 16, 2010, we are happy to announce that the January release of the Sherman Calculation Engine with XML Interface (SCEX), WinLoan-32, and eWinLoan provides outputs enabling our partners to comply with the new Mortgage Disclosure Improvement Act (MDIA) requirements. The eWinLoan disclosure page below illustrates this new functionality. WinLoan-32 disclosures are similar.

... (Read on for more information)
 

Commercial Loan Calculation in eWinLoan

Submitted 2011-01-18 11:52:00 -0800

eWinLoan is our web based loan calculation and quotation software, supporting consumer loans, commercial loans, and mortgage loans. Commercial Loans are now available in eWinLoan, after first being added to the SCEX and then WinLoan-32.

The Commercial module can handle literally any loan structure imaginable. Here are some possibilities: timewise irregular payments, multiple accrual methods, multiple payment streams (even interlocking), multiple advances, fees occurring beyond the loan date, interest capitalization during the loan term, changing interest rates during the loan term. If you can imagine it, the Commercial module can calculate it.

... (Read on for more information)
 

MDIA Amendments to TILA and Regulation Z

Submitted 2010-11-16 14:32:00 -0800

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. The Truth in Lending Act (TILA), now in effect for decades, was designed to provide consumers with the costs associated with their credit obligations. One of the primary purposes of TILA is to provide meaningful disclosures to enable consumers to compare credit terms available in the marketplace more readily and avoid the uninformed use of credit.

... (Read on for more information)
 

Commercial Loan Calculations in WinLoan-32

Submitted 2010-10-25 11:10:00 -0700

WinLoan-32 is our loan calculation and quotation software for the Windows desktop, supporting consumer, commercial, and mortgage loans. Some loans are so complex that they don’t fit into a simple category. Accrual methods may change during the course of the loan; multiple payment streams can exist, or payments may have no regular periodicity. For these situations, and others, our commercial loan module was designed.

... (Read on for more information)