Introduction

Sherman and Associates is the leader in loan quotation and loan calculation software, providing end user software and calculation engine solutions.Sherman and Associates, Inc. is the acknowledged leader in loan quotation software, including all credit insurance and debt protection methods in use across the country. We offer PC software, DLL's, calculation engines, Internet solutions, and consulting for consumer loans, commercial loans, mortgage loans, student loans, payday loans, and APR calculations. Sherman software systems are invaluable in calculating and disclosing even the most complex loan structures, with or without credit insurance/debt protection, quickly, easily, and accurately.

Our loan calculation software covers virtually all of the loan types and payment structures encountered in consumer and commercial lending calculations. These include equal payment and balloon loans, single payment loans, constant principal reduction loans, interest only loans, skipped and irregular payment loans, ARM loans, student loans, payday loans, and loans containing mixtures of different payment structures. All include complete Truth in Lending disclosures with APR values computed by either the Actuarial or U.S. Rule methods, in strict accordance with Regulation Z. All unit period and actual-day calendar interest accrual methods are available. Amortization schedules for every loan type are also included. For those interested only in APR compliance, our APR compliance software module is available as a stand-alone product.

Our software designs and mathematical methods are employed throughout the lending community, from the smallest community banks and credit unions, to the largest financial institutions in the country. Our desktop and internet solutions, WinLoan-32 and eWinLoan respectively, are considered the finest sales tools to help lenders increase their credit insurance and debt cancellation/deferment penetration. Many of the largest Loan Origination Software providers utilize our calculation engine (the SCEX) for the loan calculations and Truth In Lending disclosures provided by their origination systems.

Please take your time and browse through our web site. If you have any questions or comments about the web site or any of our products, please contact us.

HOEPA Updates for 2018

The SCEX family provides APR Compliance and Calculation Software for LendersThe CFPB is adjusting two dollar amounts that are used in the "points and fees" trigger for coverage under HOEPA for calendar year 2018. The two dollar amounts are (1) the loan amount threshold (changing from $20,579 to $21,032), and (2) the total points and fees amount (changing from $1,029 to $1,052). All of our core products have been updated to include these new amounts, ensuring that your organization is compliant with the new year's values.

... (Read on for more information)

Tags: 

Announcing Our Partnership with Mastercard

Mastercard LogoMastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. The company operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.

... (Read on for more information)

Tags: 

The Military APR (MAPR) - We Comply, Do You?

The SCEX family provides APR Compliance and Calculation Software for LendersIn July 2015, the Department of Defense issued a final rule amending the Military Lending Act’s (MLA) protections. Though the rule took effect October 1, 2015, it did not require immediate action by financial institutions. However, this final rule outlined two specific dates on which MLA’s protections will become effective: October 3, 2016 (consumer loan products with the exception of credit cards) and October 3, 2017 (credit cards).

... (Read on for more information)

Tags: 

Pages