Introduction

The Sherman Calculation Engine is a lightweight suite of lending, depositing, compliance, and support modules that provides lenders with a lightning-fast API tool to meet all calculation needs.

The SCE is secure - neither receiving, retrieving, storing, or exporting any information particular to any individual. Being free of proprietary user information means being free of the security concerns associated with disclosing personal information to a 3^rd party vendor. By focusing exclusively on the math, the SCE slims down to focus on computing quick calculations exclusively.

Getting Started

Each solution for the SCE has its own particular technical platform configurations. To assist your technical team get up and running, we offer:

• SCE Project History - A quick historical overview of the SCE project.
• API Overview - An overview of the structure common to the modules found implemented in the SCE JSON.
• SCE Sample Requests - An entire repository of sample requests you can send to the SCE, with comments to help explain the request structure.

Module Overview

Now that the SCE is up and running and queries can be run, get assistance on how to craft xml payloads to correctly represent your calculation request and review the result structures for consuming the solutions.

Loans

The SCE provides a broad spectrum of closed-end loan computation tools, which over the years has culminated with our flagship Loan module.

• The Loan module is designed to compute any loan from any lending market in any country. The particulars of a loan are added, element-by-element, to reflect precisely the particulars of that loan.

The modules that follow are all legacy modules for single advance, specific repayment structure loans.

• Equal Payment Loans - Compute an equal payment loan.
• Balloon Payment Loans - Specify the amortization term, regular payment or final balloon payment.
• Single Payment Notes - Term or Bridge Loans where one borrows cash and pays off the loan with a single payment at maturity.
• Interest Only Loans - Pay off interest only until the final payment.
• Fixed Principal Plus Interest Loans - Pay interest and specified amounts of principal.
• Skip, Pickup, and Irregular Payment Loans - Skip payments, or specify payments or specify additions to regular payments (Pickups) with these modules.
• Adjustable Rate Mortgages - Teaser Rate and Term precede an evolving interest rate.
• Construction Loans - For calculation of construction loans with no permanent loan attached.

Compliance Modules

Loans require specific sets of mandated disclosure quantities. The SCE comes with several modules to assist lenders to determine several critical quantities. These modules are as follows:

• APR Calculation & Verification - Compute the regulatory Annual Percentage Rate along with all relevant supporting data to prove compliance to an examiner.
• APY Calculation - Compute the annual percentage yield for a deposit.
• High Cost Mortgage (HCM) - Determine if the loan is a High Cost Mortgage plus the triggers causing it to be one.
• Higher Priced Mortgage Loans (HPML) - Determine if the loan is a High Priced Mortgage Loan with supporting data.

Deposit Modules

The SCE comes with several common deposit modules, broadening your suite of solutions. They are as follows:

• Certificates of Deposit - Compute CD payoffs and APY's.
• Individual Retirement Accounts - Compute retirement payments or the payment to produce a retirement income goal.
• Retirement Annuities - Streams of income paid in a series of regular monthly payments.

Utility Modules

• Account - Lists all available solutions represented by setup files currently operating with the SCEX, each solution represented by a positive Account integer.
• User Interface - The setup files for a given account solution are queried with this module, revealing all of the protection products and parameters active for that account. This reporting tool may be used by clients designing a responsive user interface to the particulars of a client solution.
• Version - Reports the version of the SCE being used.