The Leader in Loan Quotation and Loan Calculation Software

News - page 8


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.

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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.

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SCEX Loan Server for Linux

Submitted 2010-10-13 13:49:00 -0700

The SCEX is loan calculation software that can be embedded within your own application, supporting consumer, commercial, and mortgage loan calculations. The SCEX Loan Server goes one step beyond the SCEX, turning the SCEX into a multi-platform calculation engine, allowing applications hosted on platforms without the SCEX to harness the power of the SCEX. Some of our customers like to think of it as a loan calculation server. The SCEX Loan Server provides a TCP/IP communication wrapper around the SCEX. So long as the platform on which your application resides can communicate via TCP/IP, you can use the Sherman Calculation Engine in your product.

As of the October, 2010 release, Sherman and Associates is pleased to announce that the SCEX Loan Server is now available for the 32-bit and 64-bit Linux platforms. The server is implemented as a preforked, multi-process model that can take advantage of systems with multiple CPUs or cores, which are frequently encountered within today’s servers. As an added bonus, the SCEX Loan Server is written in Python, so your developers can extend or modify the application as you see fit.

If you are interested in the SCEX Loan Server Service, the SCEX for 32-bit and 64-bit platforms, or have any other questions, please feel free to contact us for further information.

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PMI Now in WinLoan-32 and eWinLoan

Submitted 2010-10-06 12:23:00 -0700

PMI (private mortgage insurance) calculations are now supported in the eWinLoan and WinLoan-32, our two end user loan calculation software products. J. L. Sherman and Associates is excited to announce the addition of private mortgage insurance (PMI) support to our best of breed desktop and internet based loan quotation tools, WinLoan32 and eWinLoan. Mortgage loans may now be covered with private mortgage insurance, with premiums paid monthy or as a single premium. Any number of monthly premiums may be paid up-front. PMI is dropped at a loan to value ratio (LTV) of 78%, with a warning given at 80%, assuring compliance with federal regulations. Furthermore, the 78% and 80% values are configurable, assuring future compliance with federal or organizational needs.

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SCEX Now Supported on 64-bit Platforms

Submitted 2010-07-23 11:49:00 -0700

The SCEX is loan calculation software that can be embedded within your own application, supporting consumer, commercial, and mortgage loan calculations. We are pleased to announce the general availability of the SCEX for the 64-bit Windows and Linux platforms. This means that our industry leading loan calculation engine is now supported natively on four platforms: 32/64 bit Windows and 32/64 bit Linux. Of course, should your application operate on a different platform, the power and flexibility of the SCEX can be made available to it via the SCEX Loan Server.

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