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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.

MDIA disclosure in eWinLoan

The Mortgage Disclosure Improvement Act (MDIA), with the statutory effective date of January 30, 2011, adopts the provisions of the 2009 Closed-End Proposal requiring disclosure of interest rate and payment summary tables, as exemplied above.

As is Sherman and Associates’ standard policy, if you are a user of any of our three core products and are under a maintenance agreement, these enhancements are available to you at no charge. If you are interested in upgrading your software, or if you have any questions regarding this new regulation or our products, then please contact us.