We constantly work with the question, "I just bought new software and it doesn’t match what I had before". With our 30 plus years providing calculations to the industry, we realize the large number of parameters and variables that can make what appears to be the exact same data produce different results i.e. payments.

Very often when two distinct payments are disclosed by different systems, one is not "wrong" but "different". We can help you figure out why calculations differ and provide concrete data that will help you make an informed decision in deciding which is the "right" answer for your situation.

Carleton also performs validation and audit services to ensure your calculations are not exceeding state regulatory or statutory maximums. We can perform validation and audits for, but not limited to, the following:

• Usury – Through our "Compliance Generator" we can evaluate contracts through client supplied electronic data and compare disclosed values with calculations computed from data files set-up to comply with the language in specific state statutes and regulations.

  This type of analysis is especially useful in the auto financing industry where maximums are determined by tiered add-on rates based on the age of the vehicle. Our system handles the maximum charge rate structures for all 50 states in the U.S. .

  The end-result is a report that displays which contracts are within state designated maximums and which are not.

• Truth-in-Lending Disclosures – The Carleton Compliance Generator also performs a validation of TILA disclosures from the "FedBox" portion of a consumer credit contract.
  The validation will do the following:
  • Check the disclosed APR against a value computed according to the rules and tolerance of Appendix J of Regulation Z. APR values can be computed by either, or both, the actuarial or U.S. Rule method.
  • Check "line balancing" to ensure the Amount Financed plus the Finance Charge Equals the Total of Payments.
  • Check to ensure the sum of the disclosed payment schedule equals the disclosed Total of Payments