Apr Verification and Calculation Module

If a loan is computed outside of the SCE and does not provide the Regulation Z / EU APR, or if you wish to validate a computed APR, then the APR Verification and Calculation functionality found in the SCE and described here will be of interest to you. The SCE supports APR calculation and verification for loans with a single advance, as well as multiple advance loans. For the United States of America, all references to Appendix J of Regulation Z are put in italics at the end of the field's description. For example, Section (a)(1) refers to Appendix J, Section a, Subsection 1 of Regulation Z.

Sample Request

The following is a sample SCE request for an APR check calculation with an Amount Financed of $10,000, and 36 monthly payments of $322.67.

{
  "Module" : "Apr",
  "Data" : {
    "TestApr" : "10.125",
    "TestFinChg" : "1616.12",
    "TestTotPmt" : "11616.12",
    "Advances" : [
      {
        "Date" : "2022-03-16",
        "AmtFin" : "10000.00"
      }
    ],
    "PmtStreams" : [
      {
        "Begin" : "2022-04-16",
        "Term" : "36",
        "Pmt" : "322.67"
      }
    ]
  }
}

Sample Response

{
  "Result" : 200,
  "Module" : "Apr",
  "Data" : {
    "Errors" : [
    ],
    "Warnings" : [
    ],
    "Apr" : {
      "Value" : "10.000",
      "Method" : "Actuarial",
      "UnitPeriod" : "1_Month",
      "UnitPeriodBase" : "Month",
      "UnitPeriodMult" : "1",
      "PeriodsPerYear" : "12"
    },
    "TestResults" : {
      "Apr" : {
        "LoanType" : "Regular",
        "MultAdv" : false,
        "IrregPeriod" : false,
        "IrregPmt" : false,
        "Value" : "10.000",
        "TestValue" : "10.125",
        "Difference" : "0.125",
        "Tolerance" : "0.125",
        "InCompliance" : true,
        "OnCusp" : true
      },
      "FinChg" : {
        "Value" : "1616.12",
        "TestValue" : "1616.12",
        "Difference" : "0.00"
      },
      "TotPmt" : {
        "Value" : "11616.12",
        "TestValue" : "11616.12",
        "Difference" : "0.00"
      }
    },
    "Loan" : {
      "TransactionDate" : "2022-03-16",
      "AmountFinanced" : "10000.00",
      "NumAdvances" : "1",
      "AdvPresVal" : "10000.00",
      "FinChg" : "1616.12",
      "TotPmt" : "11616.12",
      "NumPmts" : "36",
      "TotPmtPresVal" : "9999.942"
    },
    "AmTable" : {
      "Error" : "0.058",
      "ErrorDown" : "-0.0875",
      "ErrorUp" : "0.2035",
      "AmLines" : [
        {
          "Idx" : "0",
          "Date" : "2022-03-16",
          "Unit" : "0",
          "Frac" : "0",
          "Adv" : "10000.00",
          "PresVal" : "10000.00",
          "PresValSum" : "10000.00"
        },
        {
          "Idx" : "1",
          "Date" : "2022-04-16",
          "Unit" : "1",
          "Frac" : "0",
          "Pmt" : "322.67",
          "PresVal" : "320.0033",
          "PresValSum" : "9679.9967"
        },
        ...
      ]
    }
  }
}