The Leader in Loan Quotation and Loan Calculation Software

New Menu Selling Features

Submitted 2009-02-10 14:00:00 -0800

WinLoan-32 is our loan calculation and quotation software for the Windows desktop, supporting consumer, commercial, and mortgage loans. Sherman’s WinLoan-32 loan quotation software, already recognized as the best sales tool for increasing payment protection (credit insurance/debt protection) income, is constantly enriched by our clients’ great ideas. Our two newest innovations are perfect examples of this relationship.

A major frustration among payment protection managers has been the tendency of some loan officers to simply request a payment without protection. We now offer a setup file option to make the menu screen mandatory. Clicking [Calculate] takes you directly to the Menu Screen, with all the protection plans presented, and the no protection plan at the bottom. The Entry Screen for this setup option is below:

Rather than allowing selection of a particular Payment Protection option, pressing [Calculate] takes you to the complete menu screen. The four bottom options are shown directly below.

Our newest innovation is the [Roll To Term] key in the bottom left corner of the Menu Screen. Suppose the borrower, being very payment conscious, asks for the payment without protection. The loan officer could say something like, “Mr Borrower, I understand your desire for the lowest payment, but I hope you’re also convinced of the value of the payment protection plans we’ve discussed. Let’s see what we can do with that lowest payment. By extending the loan term just a bit, we can keep your payment at that level or lower, and still provide the protection.”

The current WinLoan-32 certainly allows you to do that. You return to the Entry Screen, select [Term] as the Calculation Option, input the desired payment amount, and select [Calculate] again. Quite a few keystrokes!

But not any more! Just one click of the [Roll To Term] key takes the user to the following screen:

Each payment with protection will actually be less than the No Protection payment. By satisfying the borrower’s request, while providing the important payment protection, your chance of selling protection is greatly increased, with just one click of the mouse.

These innovations are the result of conversations with payment protection managers within major banks, and we are pleased to be able to implement their ideas to help our clients in the sale of payment protection. WinLoan-32 is a sales tool that enables the loan officer to be a good consultant, working with the borrower to tailor a loan precisely to the borrower’s payment needs.

WinLoan-32 also offers other unique features designed to help you sell more payment protection, including the [Concerns] button at the top of the disclosure screen. A complete menu of subjects ranging from product cards, and short form disclosures, to tutorials on handing objections can be listed under this button.

To discuss these ideas further, please contact us. For WinLoan-32 users currently under maintenance, a free upgrade with these features is available. If you already have a no-protection option in your Group Quote screen, this upgrade will create the [Roll to Term] button, which appears only next to the no-protection payment.

To activate the mandatory Group Quote, you will need to invoke a Setup File Option. Please contact us for guidance - it’s easy!