New Loan Type Tabs for WinLoan-32
WinLoan-32’s new tabs ( Consumer, Commercial, Mortgage) allow users to switch types of loans without jumping to change setups. The following scenario explains the usefulness of the new loan type tabs.
Previously with WinLoan-32, suppose a loan officer computed a consumer loan, such as an auto loan, and his next customer was interested in a mortgage loan. If the mortgage loan used different setup parameters, he had to go into the Setup Files, then the Account Setup, and select the Account corresponding to mortgage loans. That’s several clicks! The loan officer would then need to switch back for consumer loans. If these different loan structures have different setup files, forgetting to switch would lead to incorrect results.
In our latest update we have added separate tabs for consumer, commercial, and mortgage loans, and each tab has the complete Setup File for its specific loan type. Now, even if the setup parameters differ among these loan types, a single click on the desired tab moves you from one to the other. The new tabs not only speed the operation, but they also eliminate a potential source of error.
New Calculations for the WinLoan-32
Since WinLoan-32 and eWinLoan are both based upon the SCE (Sherman Calculation Engine), which has become the preferred source of loan quotations and disclosures among the major Loan Origination Software providers, we are continually making enhancements for our LOS partners’ clients that wind up in our WinLoan products as well. Some recent enhancements include:
Setup file options for minimum calculated fee values.
Addition of 50-year mortgage loans for all payment frequencies other than weekly.
Addition of 365/365 simple and U.S. Rule accrual methods (like Actual/365 except that February 29 is ignored).
New capping method for MOB Gross disability aggregate cap.
These are just some of the recent enhancements we have made. All of our products are continually expanding in capability, and therefore always on the cutting edge because we are constantly responding to the needs of new lenders accessing our SCEX. Thanks to our growing list of LOS partners, we have added over 100 new lenders this year alone.
Please contact us to discuss how the SCEX, or our WinLoan software, can benefit your organization.