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Carleton Partners with Algebrik AI to Elevate Lending Accuracy and Compliance

Carleton, Inc. is excited to announce our strategic partnership with Algebrik AI, a cloud-native, AI-powered Loan Origination Platform. This initiative merges the latest advancements in artificial intelligence with a Loan Origination System (LOS) and incorporates regulatory-compliant payment calculations, poised to transform the consumer lending industry!

Matt Ruszkowski, President & COO of Carleton, Inc. stated, “Our partnership with Algebrik highlights the importance of accurate and compliant payment calculations in today’s financial landscape. Together, we’re empowering lenders with tools to increase efficiency and build trust from borrowers, thereby enhancing the lending journey.”

This collaboration ensures compliance across 1,000+ calculation methods, including credit insurance, disability, and GAP coverage, while adapting to lender-specific rules. Integrating Carleton’s APIs within Algebrik’s cloud and AI-native architecture allows lenders to introduce new products with minimal effort and seamlessly scale their offerings regardless of size.

Key Benefits of the Partnership:

• Accurate Loan Calculations: Precise disclosure values, payment calculations, and credit insurance support tailored to diverse lending products.

• Compliance at Scale: Real-time validation of loans against state and federal regulations, a critical feature for indirect and direct consumer lending.

• Expanded Product Support: Seamless handling of loans across credit cards, home equity lines, auto loans, and more.

 

Read Business Wire Announcement

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Carleton Strengthens Its Position in the Financial Software Industry through a New Strategic Partnership with OTTOMOTO®

 

SOUTH BEND, IN – November 19, 2024 — Carleton, Inc., a premier provider of financial calculation and compliance solutions, is proud to announce its partnership with OTTOMOTO.net, a leading innovator in digital lending platforms. This strategic collaboration is set to broaden Carleton’s impact in the automotive finance industry, bringing state-of-the-art compliance, calculation, and document delivery APIs directly into the OTTOMOTO® ecosystem.

By integrating CarletonCalcs® suite of payment calculation and compliance APIs and CarletonDocs® single-source solution for generating and distributing lending documents into OTTOMOTO®’s platform, it will provide dealers with a loan origination experience that prioritizes state and dealer fee accuracy and lending regulatory adherence. This initiative reflects OTTOMOTO®’s commitment to empowering lenders and dealers with robust, compliant, and user-friendly financial tools.

“Partnering with OTTOMOTO® aligns perfectly with our mission to deliver precise and compliant financial software to an expanding client base,” said Matt Ruszkowski, President & COO of Carleton, Inc. “OTTOMOTO®’s industry leadership and innovative approach provide the perfect platform to take advantage of Carleton’s wide range of automotive financing solutions for nationwide use.”

Key Benefits of the Partnership:

• Broadened Impact: Carleton’s industry-leading APIs will enhance OTTOMOTO®’s platform, reaching more lenders and dealers than ever before.
• Seamless Integration: This partnership will streamline the use of advanced calculation and document delivery tools in automotive lending workflows, ensuring efficient and compliant operations.
• Commitment to Compliance: Carleton’s established compliance solutions will bolster OTTOMOTO®’s offerings, providing peace of mind to institutions navigating complex regulations.
• Mutual Growth: This strategic alliance reinforces both companies’ dedication to innovation and customer-focused advancements in the automotive finance sector.

“This partnership showcases our dedication to innovation and highlights how our compliance software can integrate with and elevate an established digital platform like OTTOMOTO®,” Ruszkowski continued.

Paul Nicholas, CEO of OTTOMOTO®, echoed the sentiment: “We are delighted to integrate Carleton’s unparalleled financial calculation expertise into our offerings. This move represents a key step in our mission to optimize our platform with solutions that are accurate, efficient, and regulation ready.”

By aligning their shared visions for innovation and efficiency, Carleton and OTTOMOTO® are poised to redefine automotive finance technology extending their service capabilities while continuing to deliver advanced, secure, and compliant solutions tailored to modern lenders and dealers.

About Carleton, Inc.

Carleton is the country’s leading provider of financial calculation software, loan origination compliance support, and document generation software. With over 55 years of experience, our ongoing expertise and industry knowledge reaffirms why Carleton is a trusted partner. Founded in conjunction with the Truth In Lending Act, Carleton provides expert compliance support with continuous accuracy in all our calculations and disclosures at a state and federal level. To learn more about Carleton’s lending solutions, contact our sales team at sales@carletoninc.com or 574-243-6040 option #3.

About OTTOMOTO.net

OTTOMOTO® is a premier provider of lending technology for the automotive, RV, Powersports, marine, and aircraft industries. With a focus on digital innovation, OTTOMOTO® is redefining traditional financing practices through a secure, transparent, and compliant process that serves dealers, lenders, and consumers alike. Leveraging strategic partnerships and decades of industry expertise, OTTOMOTO® is committed to advancing the future of finance with cutting-edge technology solutions. To learn more, visit www.ottomoto.net.

For inquiries about the OTTOMOTO® and Carleton, Inc. partnership, please contact Carol Docalavich at carol@ottomotoapp.com

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Carleton Sales Team

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SOUTH BEND, IN, June 25, 2024 – Carleton, the industry leader in compliant financial calculations and lending document generation software, is pleased to announce the promotion of Sarah Way Milovich to General Counsel and Vice President of Compliance following Jeff Buysse’s retirement after nearly a forty-year career managing Carleton’s Compliance Services.

Jeff Buysse has been Carleton’s Vice President of Compliance Services advising lenders and regulators nationwide on the compliant implementation of federal and state lending regulations. He defined the calculation blueprint used within Carleton’s compliance software utilized by lending regulators across 13 different states. Jeff regularly served as an expert speaker at seminars and educational classes for state banking examiners and lending associations. Jeff has been integral in Carleton’s role of serving and guiding clients across all 50 states in their efforts to provide compliant loan calculations. Under Jeff’s leadership, Carleton’s Compliance Services have grown to include two attorneys, a compliance analyst, software developers, and client support personnel.

Following Jeff Buysse’s retirement, Sarah Way Milovich will take on the responsibilities as the Vice President of Compliance Services and General Counsel. Sarah joined Carleton in 2016 and has had the privilege of being mentored by Jeff Buysse. Sarah earned her Juris Doctorate from Loyola University School of Law in 2013 and graduated with a Bachelor of Arts in Political Science from the University of Notre Dame in 2009. Sarah has managed Carleton’s Compliance Services since 2022 and was recently recognized as one of American Financial Services Association’s “Influential Industry Leaders”. Similar to Jeff’s impact throughout the industry, Sarah continues to exhibit Carleton’s strong regulatory knowledge as demonstrated by her recent appearance at the National Association of Consumer Credit Administrators Regulators’ Training Symposium as an expert panel member exploring the nuances of “All-In APR” calculations.

“I am very privileged to have been part of Jeff Buysse’s team and trained by him. Jeff is arguably the most senior expert in the United States regarding consumer credit math and its compliant implementation within over 250 federal and state lending regulations nationwide. Jeff has ensured that his legacy includes leaving a compliance team well-equipped to uphold the high standards he established in supporting our clients and regulators. Jeff has been and will continue to be a valuable mentor to myself and our team,” commented Sarah.

“Jeff has undoubtedly made a profound impact at Carleton and throughout the consumer lending industry. His knowledge and expertise in navigating the complexities associated with regulatory compliance have established Jeff as a respected leader in the compliance community,” stated Matt Ruszkowski, President and COO, Carleton, Inc. “We are also very fortunate to have Sarah as part of the Carleton leadership team and the management of our Compliance Services Department. Her last eight years working side by side with Jeff Buysse has given her invaluable knowledge and experience that ensures we will continue to provide our clients with the support and high level of compliance services built into our solutions. Sarah’s promotion showcases Carleton’s dedication to strengthening our compliance team, reinforcing our commitment to building our clients’ trust and being the experts throughout the ever-evolving compliance landscape.”

 

About Carleton, Inc.:

Carleton is the country’s leading provider of financial calculation software, loan origination compliance support, and document generation software. With over 50 years of experience, our ongoing expertise and industry knowledge reaffirms why Carleton is a trusted partner. Founded in conjunction with the Truth In Lending Act, Carleton provides expert compliance support with continuous accuracy in all our calculations and disclosures at a state and federal level. To learn more about Carleton’s lending solutions, contact our sales team at sales@carletoninc.com or 574-243-6040 option #3.

Each year, Cherokee Media Group orchestrates the Special Finance 175 by Subprime Auto Finance News which recognizes the finance companies, service and technology providers, and other organizations that continue to thrive in the auto finance industry.

The Carleton team was recently honored to receive this recognition again in 2024 as “one of the most influential companies serving the subprime auto finance industry.”

Nick Zulovich, senior editor at Cherokee Media Group, explains further in the magazine’s April issue saying, “In summary, this feature is meant to reiterate the ‘good work’ that’s being completed […].” Nick continued, “To the companies included, let this issue be a salute to each of you, your management teams, your representatives in the field and your support systems that go well beyond brick-and-mortar buildings and communications infrastructure.”

“We are privileged to be named on this year’s Special Finance 175 list and grateful for the recognition highlighting our team’s commitment to being our customer’s trusted partner,” says Matt Ruszkowski, Carleton President and COO.  Matt added, “Carleton’s commitment to providing accurate and compliant financial solutions with expert-level service allows our customers to focus on what they do best, so they can be successful.”

 

View April Issue of Subprime Auto Finance News

 

About Carleton, Inc.:

Carleton is the country’s leading provider of financial calculation software, loan origination compliance support, and document generation software. With over 55 years of experience, our ongoing expertise and industry knowledge reaffirms why Carleton is a trusted partner. Founded in conjunction with the Truth In Lending Act, Carleton provides expert compliance support with continuous accuracy in all our calculations and disclosures at a state and federal level. To learn more about Carleton’s lending solutions, contact our sales team at sales@carletoninc.com or 574-243-6040 option #3.

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DALLAS, TX, January 26, 2024—GDS Link, a global leader in credit risk decisioning solutions, today announced a strategic partnership with Carleton by integrating Carleton’s compliant financial calculations, CarletonCalcs®, and lending document generation software, CarletonDocs®, within GDS Link’s Credit Risk Decisioning solutions.

CarletonCalcs®, a suite of configurable payment calculation and compliance APIs, is designed to integrate seamlessly with lending and leasing applications, supporting product calculation requirements while adhering to compliance at lender, state, and federal levels. CarletonDocs® further enhances this integration by offering streamlined document processing, ensuring rapid and compliant document generation and delivery. This partnership significantly bolsters GDS Link’s capabilities in data aggregation and responsive decisioning, providing lenders with a robust solution in credit risk management.

The partnership between GDS Link and Carleton unites Carleton’s specialized APIs — OriginationPlus, Compliance, and Student Lending — with GDS Link’s Credit Risk Decisioning solutions. This partnership creates a robust, comprehensive lending platform. It enables precise, compliant payment calculations and enhances customer engagement through efficient loan origination processes. Incorporating advanced models, third-party data, and electronic documentation, this integrated solution streamlines underwriting and bolsters fraud prevention, delivering a seamless and responsive lending experience.

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SOUTH BEND, IN, July 17, 2023 – Carleton announced the promotion of Tonya Hardisty on Monday, elevating her to be director of client success. Hardisty has been in a managerial role at the provider of compliant financial calculations and lending document generation software since 2005.

In this new role, Hardisty will lead the support team that oversees all of Carleton’s clients that utilize those calculation solutions and document services. From the client onboarding process to ongoing support, she will ensure that Carleton’s clients are getting the support that they expect.

As Director of Client Success, Hardisty will be responsible for developing and executing strategic initiatives to enhance the overall client experience. She will also collaborate closely with other departments to align client service initiatives with Carleton’s broader goals and objectives.

“Carleton’s commitment to providing unparalleled ongoing-support services to our clients has been a key differentiator and Tonya has been a major contributor to that success,” Carleton President and COO Matt Ruszkowski said in a news release. “With over 25 years of experience at Carleton, she has worked directly with our clients and understands their pain points. So, she knows what the necessary components are for a successful partnership.”

 

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Irvine, CA, May 17, 2022 – California-based loan servicing software provider, Lendisoft announced today that it has integrated CarletonCalcs® APIs within its Lendisoft Servicing platform. Lendisoft is a preconfigured enterprise Loan Management System (LMS) with a full suite of risk management and compliance features. The included risk management features are designed to maximize collection efforts while ensuring payments are collected and reported in accordance with lender allocation requirements. This sophisticated compliance solution ensures Federal & State regulations, as well as Consumer Financial Protection Bureau mandates, are tracked and followed.

CarletonCalcs® is a suite of computation software APIs which enable software applications to calculate payments, fees, taxes, and nearly all calculations required for every subset of the consumer lending industry. Lendisoft Servicing leverages CarletonCalcs® Loan Servicing APIs, enhancing the compliance features built into Lendisoft’s platform. Lendisoft Servicing integrates specific CarletonCalcs® APIs which ensure proper interest accrual rules and allocations between principal interest, late charges, and non-sufficient funds fees. These rules, charges, and fees are accurately aligned with state regulations and institutional product requirements.

The CarletonCalcs® APIs support Lendisoft’s ability to tailor corresponding loan-servicing workflows and risk assessment tools for all their lenders, dealers, and financial service providers utilizing their platform. By partnering with Carleton, the leader in compliant financial calculations software, Lendisoft is well-positioned to expand and bring their LMS into any consumer lending market. This flexibility will ensure quick integrations and compliance as their clients grow, adapt, and add new or modified products to the market.

“CarletonCalcs® offers Lendisoft a proven workflow and process for our most sophisticated and progressive clients. Our choice was simple! Carleton leverages the Lendisoft API wizards to ensure integration is done right the first time and in the least time,” said Vijay Singh, Founder & CEO. “Carleton was the right choice from a ‘Go to Market’ perspective too. Their market share, compliance maturity, and platform reliability give Lendisoft client’s the security and comfort to focus on their business…lending money,” said Bill Gerber, CRO and Founder’s Circle member.

With Lendisoft Servicing, customers have a flexible and intuitive platform that allows clients to simplify and align compliance workflows to the needs of the specific lender, their products, and the borrower-risk profiles they target. Carleton and Lendisoft mutually embrace a compliance-first focus which provides great synergy between their comprehensive suite of products. This core feature is what makes the Lendisoft platform so valuable.

“Lendisoft LMS is driven by a team of executives who have the experience to understand the demand for compliance features expected in a modern LMS solution,” said Matt Ruszkowski, President and COO of Carleton. “Lendisoft Servicing was built to address the resource-intensive burden compliance practices require in the consumer lending industry. Lendisoft built a product focused on maximizing the efficiency of a quick API integration with the software tools to significantly reduce compliance burdens. Their CarletonCalcs® integration adds further assurance that the compliance tools in the Lendisoft Servicing LMS are delivered with the latest technology, are quick to implement, and are flexible enough to adapt to any regulatory requirement in the future,” continued Ruszkowski.

About Lendisoft, Inc.:

Lendisoft is the “new kid on the block”, disrupting the lending industry with its refreshing approach, pairing cloud-based SaaS technologies with risk management features and consulting. We provide an end-to-end lending platform, giving lenders the ability to manage risk effectively, maximize collections with compliance, and grow their business with confidence. Learn more about Lendisoft Servicing at Lendisoft.com.

About Carleton, Inc.:

Carleton is the country’s leading provider of financial calculation software, loan origination compliance support, and document generation software. Based in South Bend, Indiana, Carleton possesses over 50 years of leadership in the rapidly changing consumer credit industry. Carleton guarantees accuracy in all their calculations and disclosures enabling their partners to fulfill compliance requirements today and well into the future. To learn more about Carleton’s lending solutions, contact our sales team at sales@carletoninc.com or 574-243-6040 option #3.