FOR IMMEDIATE RELEASE

For more information contact:
Carleton Sales Team
574.243.6040 option #3
sales@carletoninc.com

 

Recent consumer finance legislation which has passed the Illinois state House and Senate has received national attention from lenders and finance companies. Senate Bill 1792 contains The Predatory Loan Prevention Act which significantly impacts the extension of credit in the state of Illinois. The bill was sent to Governor Pritzker on February 5, 2021 and he has 60 days to sign or veto the legislation. The Predatory Loan Prevention Act would go into effect immediately upon signature or automatically following that 60-day period. Although regulations implementing this law will undoubtedly be released, they have yet to be drafted. These rules will hopefully add more clarity to the components of the bill and how they impact consumer lending operations in Illinois. Carleton has been closely monitoring the progression of SB 1792 and has already begun implementing calculation changes in order to help our clients and partners stay ahead of this compliance challenge.

Significant Provisions Impacting Computational Requirements:

• Replaces existing maximum charge statutory requirements with:
  • A 36% Annual Percentage Rate limit
  • Aligns computational requirements with the MAPR for the Military Lending Act
  • The new 36% cap will extend to both Loans and Retail Installment Sales
• Exempt institutions:
  • Federally chartered banks
  • Savings banks
  • Savings and loan associations
  • Credit Unions
• The Act will be effective immediately upon signature by the Governor.

SB 1792 Aligns Compliance Requirements With the Military APR:

• The Military Loan Act defines “interest” for purposes of complying with the rate cap as including:
  • Application fees
  • Points, origination fees, participation fees—all fees in the TILA finance charge
  • Any fee, premium, or charge for credit insurance
  • Any debt protection charges/fees (cancellation and suspension)
  • Any credit-related ancillary product sold in conjunction with the transaction
• The controversy over the undefined term “credit-related ancillary product” will extend to this legislation unless subsequent rules and regulations provide specific clarity. To date, the Department of Defense has refused to define this term in relation to the MAPR calculation.

Carleton has maintained regular communication with industry professionals and trade associations to ensure we are assisting our clients implement these necessary updates. Additionally, Carleton has extensive knowledge and experience with the Military Lending Act and the associated computational requirements. We will be consulting with and implementing updates for our clients on a first come first serve basis. Submit a “Contact Us” request today to review required adjustments to your lending operation.

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 this rapidly-changing regulatory industry. Carleton guarantees accuracy in all their calculations and disclosures enabling their partners to fulfill compliance requirements today and 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.

FOR IMMEDIATE RELEASE

For more information contact:
Carleton Sales Team
574.243.6040 option #3
sales@carletoninc.com

 

SALT LAKE CITY, UT (February 1, 2021): Integrated Lending Technologies (ILT) is very pleased to announce that it has completed the development integrating CarletonCalcs®, a powerful and proven calculation software from Carleton, Inc. Lenders using ILT’s Allegro™ Lending Suite will now have access to the CarletonCalcs® Loan, Lease, and Compliance modules, providing computational accuracy and compliance with all relevant governmental regulations. The CarletonCalcs® software will enable Allegro’s lender-users to offer a wide variety of creative loan structures to their borrowers and to their dealer and merchant partners. All Allegro™ clients, regardless of size, will be able to offer leasing, delayed payment starts, payment holidays, varied payment frequencies, annual payments and more with confidence in the accuracy of the calculations and required disclosures.

“In today’s high-speed digital lending environments it is a significant burden to ensure your loan and lease disclosure’s are accurate and compliant especially when it comes to offering non-conventional, yet in-demand features for your lenders and their borrowers,” said Matt Ruszkowski President and COO of Carleton. “Carleton’s partnership with ILT is a natural fit and we are excited to be able to provide our computational-compliance software and expert support to ILT through the Allegro™ Lending suite.”

Will McGregor, CEO of Integrated Lending Technologies, said, “We’re very happy to have this integration finished to keep Allegro™ current with the very latest and best technologies available. This addition will significantly increase the versatility and value of our product. Carleton is a great partner, and it’s been a pleasure working with them over the last several months to bring this project over the finish line.”

About Integrated Lending Technologies

ILT has been providing innovative technology solutions for the lending industry since 2001 when it released the first version of DILLS™ which was replaced in 2017 with the Allegro™ Lending Suite, a cloud-based loan origination system comprised of three modules, one for indirect lending (Dealer), another for direct lending (Branch) and a third for lifestyle lending (Provider). Allegro™ includes an extraordinarily versatile automated decisioning system, regulatory compliance tools, limitless reporting capability and integration with any core management system. And, like its predecessor, Allegro™ includes options to make it the ultimate management tool for CUSOs and other managers of multiple lenders. To learn more about Integrated Lending Technologies and Allegro™, visit www.allegroloan.com.

About Carleton, Inc.

Carleton is the country’s leading provider of financial calculation software, loan origination compliance support, and document generation software. Carleton possesses over 50 years of leadership in this rapidly-changing regulatory industry. Carleton guarantees accuracy in all its calculations and disclosures enabling their partners to fulfill compliance requirements today and 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.

FOR IMMEDIATE RELEASE

For more information contact:
Carleton Sales Team
574.243.6040 option #3
sales@carletoninc.com

 

SOUTH BEND, INDIANA (September 29, 2020): Building upon the core value to provide lenders outstanding flexibility, 3530 Technologies has announced an expanded partnership with Carleton Inc., integrating CarletonCalcs® and CarletonDocs® API components into their lending platform.

This new partnership expands CreditCore®—3530 Technologies already feature-packed Loan Origination Solution(“LOS”)—to support direct lenders with comprehensive electronic documents and accurate and compliant disclosure computations. Utilizing both components in tandem ensures not only that the correct electronic document sets are dynamically compiled in application and closing packages, but that each computed value is produced featuring Carleton’s 50 years of expertise in providing precisely configured lending calculations.

“Carleton’s computational compliance expertise adds credibility and confidence in our client’s lending configurations, providing critical value and quality to the CreditCore® user experience,” said Troy Anderson, CEO of 3530 Technologies. “Meeting our client’s needs is always a top priority, and adding both CarletonCalcs® and CarletonDocs® API components ensures the CreditCore® LOS has complete flexibility to accommodate all types of consumer and business lending products and their corresponding disclosure compliance requirements.”

CreditCore®’s enhanced flexibility ensures 3530 Technologies can serve a more diverse spectrum of lending operations. These Carleton components enable clients to optimize their operational workflows. The CarletonCalcs® API ensures computed contract disclosure values are automatically reduced if they would otherwise exceed state and Federal Truth in Lending Act (“TILA”) compliance requirements, while CarletonDocs® empowers 3530’s clients to deploy “off the shelf” document sets, 3^rd-party document provider offerings or a combination with their own custom forms. Both Carleton solutions bring a distinct added value to the CreditCore® LOS, ensuring each of 3530’s clients are able to configure CreditCore® to the exact requirements of their lending operations.

“Through Carleton’s partnership with 3530 Technologies, we’re able to deliver cutting-edge compliance capabilities and allow lenders the ability to streamline and optimize their compliance processes,” stated Matt Ruszkowski, President and COO of Carleton. “3530 Technologies’ clients can have confidence that Carleton will deliver compliant disclosures in this unforgiving regulatory environment. Additionally, Carleton’s team will help ensure a successful and compliant CreditCore® integration, both within the initial implementation project and whenever computations and disclosures need to be updated.  Carleton was founded over 50 years ago with our sole focus on delivering accurate and compliant consumer lending calculations. Over these years, we’ve been successful in helping our partners maintain and adapt to an ever-changing compliance landscape, and our relationship with 3530 Technologies is a terrific example of that.”

About 3530 Technologies:

3530 Technologies provides software solutions and services for consumer and business lending that align exactly with the client’s existing software environments. These offerings are tailored to the needs of captive lenders, national banks, regional banks, finance companies, credit unions, and lending start-ups.

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 this rapidly-changing regulatory industry. Carleton guarantees accuracy in all their calculations and disclosures enabling their partners to fulfill compliance requirements today and 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.

 

Carleton is celebrating its Golden Anniversary as an acknowledged industry leader in compliant consumer lending origination computations and complementary document generation solutions. Throughout the last half century, Carleton’s innovative products have enabled lenders to compliantly close loans in the highly regulated industry of consumer finance.

Carleton’s role in the industry began when its original founder, Joseph Carleton Pitts, served on the advisory board responsible for crafting Appendix J contained in the 1969 Truth in Lending Act. Appendix J defined the Annual Percentage Rate (“APR”) guidelines and disclosure requirements. This new regulation created an ideal platform for Carleton to produce payment charts that incorporated the APR for lenders nationwide. By 1975, Carleton was generating payment charts that included credit insurance products for virtually all the major finance companies and credit insurance companies in the United States. Since then, the lending industry has relied on Carleton to provide payment calculations in compliance with over 300 lending and credit insurance regulations at both the federal and state level.

One of Carleton’s primary points of differentiation has been its commitment to providing federal and state compliance support “in real time” within its consumer lending solutions and consulting services.   Carleton’s Compliance Group is led by Jeff Buysse who has over 30 years of compliance expertise and includes two full-time attorneys who monitor, evaluate, and leverage their in-depth knowledge of consumer finance regulations.

“We believe the many years of collective experience of Carleton’s management team in the consumer finance arena provides a high degree of ‘peace of mind’ for our clients,” said Matt Ruszkowski, Carleton President and COO. “Those clients can have absolute confidence that our compliance expertise and high-level support will assure their lending solutions will be accurate and remain in full compliance now and into the future. We take pride in our long tenure of service to the industry and we look forward to continuing to successfully meet and exceed our client’s lending needs for the next 50 years—and beyond.”

Carleton has continued to adapt its loan quoting and origination calculation solutions leveraging the latest in technology and the lending environment. Today, many national lenders and major lending platforms in the automotive, banking, and credit union industry utilize Carleton’s current suite of products, including CarletonCalcs®, CarletonDocs®, CarletonAccess®, and CarletonAudit® for all types of consumer loans and leases offered in the United States and Canada. In addition, Carleton is initiating the next half century of service with the introduction of its newest lending software solutions—Carleton CarCalcs® and CarletonConnect™.

Carleton CarCalcs® consists of APIs tailored for performing automotive retail or lease calculations for multiple interest rates, terms, down payments in a single call. Carleton CarCalcs® utilizes the popular CarletonCalcs® platform to perform all required calculations needed for computing payments related to purchasing, financing, or leasing a vehicle. In addition, Carleton CarCalcs® computes the following fees and taxes:

• State and local Sales Tax
• State Registration and Title fees
• State Dealer fees (Doc fees, tire fees, temporary plates, lemon law, electronic filing, acquisition, and many more)

CarletonConnect™ adds even greater versatility to CarletonDocs® by supporting multiple third-party document providers and eSignature technologies that have partnered with Carleton. As Fintech partners continue their ROI-driven quest for efficiencies and reduced integration operating costs, CarletonConnect™ provides an intriguing and cost-effective alternative to supporting a myriad of document and electronic signature integration points.

Pat Ruszkowski, Carleton’s CEO, stated, “Our proven compliant loan calculation and document generation expertise combined with our ability to change our lending solutions to adapt to the ever-changing technology space is why we are celebrating our 50^th Anniversary. It is very exciting for me to see the next generation of Carleton professionals continue to embody our core values in this exciting lending environment. We have never had stronger software solutions or experienced staff to serve our partners and clients.”

 

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 this rapidly changing regulatory industry. Carleton guarantees accuracy in all their calculations and disclosures enabling their partners to fulfill compliance requirements today and 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.

FOR IMMEDIATE RELEASE

For more information contact:
Carleton Sales Team
574.243.6040 option #3
sales@carletoninc.com

                

COVID-19 Drives A Digital Lending Revolution:  Is Your Auto Lending Business Ready?

SOUTH BEND, INDIANA (May 26, 2020): Since the COVID-19 pandemic began, consumers have been required to adapt to new social distancing and corresponding changes in their business activities.  This has certainly included the purchase of cars, trucks, and other vehicles.

Across the country, many car dealerships have been forced to close their showrooms, with some retaining personnel for only their service department. But others rapidly pivoted to adopt new ways to sell vehicles.

While in recent years the online-buying process has been growing, the impact of COVID-19 has significantly accelerated the need to adopt alternative solutions to traditional “on the lot” car purchasing practices. New demographics that are traditionally averse to online shopping are now forced to utilize whatever digital solution is available to them.

Furthermore, partnering vehicle delivery companies that work with dealerships to shop, select, finance, and deliver cars to consumer driveways without any personal contact have seen a surge in demand in recent months. The “dealer to driveway” concept is here to stay and forecasted for continued growth, even after COVID-19 stabilizes and departs from our normal everyday lives.

As the leading provider of accurate and compliant retail and lease payment computations and document delivery software in the auto finance industry, Carleton has seen firsthand the increased demand for “complete detail data” digital retailing solutions.

“COVID-19 has challenged the automotive industry in many ways, but none more than the new expectations consumers will have with the vehicle purchasing experience.  Consumers were already looking for more streamlined processes featuring transparent payment computations consistent through the lifecycle of the vehicle purchasing experience,” said Matt Ruszkowski President and Chief Operating Officer of Carleton.  “Auto lenders, OEM’s, and car dealerships have been looking to adopt and leverage Digital Retailing platforms, but requirements have expanded, demanding platforms to be much more than just lead generators.  The expectation is to complete the vehicle purchasing process by providing accurate and compliant disclosure values from the start.  Platforms need to include complete deal data that feeds the document delivery process and all necessary disclosures for the retail/lease package.”

When the vehicle purchase process begins and ends online, consumers expect the first payment quoted will match what they eSign at the end of their digital retailing experience.  Further evidence is demonstrated within mainstream dealer & lender expectations, featuring consistent state-specific title/registration fees, sales tax, and dealer fees throughout the entire financing process.

Marcus Alley, Vice President of Strategic Initiatives for Automotive Titling Corporation (ATC), a data partner and leading source for providing automotive sales tax and registration fees in all 50 states, provided this observation about the current state of the digital car buying landscape: ” Gone are the days when “close enough is good enough” for online payment quotes or interest information presented to consumers in the front portion of the traditional vehicle buying process.  Consumers expect accurate loan and lease information at the very start, down to the city-level sales tax, vehicle title and registration details.”

The industry has lacked a complete, end-to-end customer experience featuring full and transparent disclosure data.  Consumers have embraced online car buying/financing services and there remains a critical void between consumer expectations and existing digital finance solutions.

Carleton has recently released CarCalcs™, a comprehensive solution to address this critical need.  CarCalcs™ is an add-on component to the tried and true CarletonCalcs® product.  CarCalcs™ bridges the gap between traditional Installment Contract disclosure calculations by returning complex and valuable additional deal data, including Sales Tax & Registration Fee data sourced by Automotive Titling Corporation.  The end result is complete and accurate calculations returned via a single API including all payment, Federal Truth in Lending information, credit insurance, sales tax, and state-specific registration & dealer fees at the very beginning of the borrower engagement.  Contact us today to integrate complete deal data into your digital lending platform.

 

About Automotive Titling Corporation (ATC)

50 states. Over 10,000 taxing jurisdictions. Nine million different combinations of vehicle ownership rules, laws, requirements and forms, all driven by the vehicle, location, type of transaction, etc.  ATC covers them all. Integrating the ATC API into your online application will allow you to instantly calculate taxes and registration more accurately for anywhere in the country. To learn more about ATC go to https://atc-api.com or contact Marcus Alley, Vice President of Strategic Initiatives at (720)200-8834 or marcus@autotitling.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 this rapidly changing regulatory industry. Carleton guarantees accuracy in all their calculations and disclosures, enabling their partners to fulfill compliance requirements today and 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.

 

FOR IMMEDIATE RELEASE

For more information contact:
Carleton Sales Team
574.243.6040 option #3
sales@carletoninc.com

 

SOUTH BEND, INDIANA, January 16, 2019 – Kasasa, LTD. adds value to their award-winning financial technology and marketing services platform through its new partnership with Carleton, Inc. by integrating configurable and accurate insurance and debt protection calculations within its latest award-winning product, the Kasasa Loan®.

The Kasasa Loan® is the only auto and personal loan that allows consumers to reduce debt by paying ahead, while maintaining access to those funds if needed. Using CarletonCalcs®, Kasasa’s community bank and credit union clients can easily add debt protection or credit insurance products to the Kasasa Loan® accurately and in compliance with their insurance company’s underwriting requirements. CarletonCalcs® enables Kasasa to apply client-specific limits and methods that meet their client’s institutional, state and federal compliance requirements.

“We wanted to ensure the Kasasa Loan® added a high level of configurability and compliance support to meet our client’s needs, in addition to providing consumers the greatest flexibility when choosing their loans,” said Chris Cohen, EVP, Product Management for Kasasa. “Carleton’s expertise in consumer loan calculation compliance provides our clients that extra level of comfort knowing the Kasasa Loan® is supported by 50 years of experience and accuracy, while providing unique consumer benefits unavailable through other loan products.”

“Kasasa recognized the importance of having a versatile loan structure to deliver a flexible and compliant loan product. By integrating CarletonCalcs® throughout the Kasasa service platform, Carleton will ensure compliant loan computations and precise amortization schedules through Kasasa’s dashboard and mobile app,” stated Matt Ruszkowski, President and COO of Carleton. “Our proven track record of providing nationwide support to the lending industry is why Kasasa partnered with Carleton. We are excited to be part of the Kasasa team, as we are both committed to providing the highest quality level of innovative consumer lending technology products and service to drive our clients’ success.”

About Kasasa, LTD:

Based in Austin, Texas with 450 employees, Kasasa is a financial technology and marketing provider committed to driving results for over 900 community financial institutions by attracting, engaging, and retaining consumers. With innovative products, a national consumer brand, and comprehensive solutions and support, Kasasa helps local banks and credit unions compete for their rightful share of the market against even the largest banks. Together we can Take Back Banking. For more information, please visit www.kasasa.com, or visit them on Twitter, Facebook, or LinkedIn.

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 this rapidly changing regulatory industry. Carleton guarantees accuracy in all their calculations and disclosures, enabling their partners to fulfill compliance requirements today and 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.

FOR IMMEDIATE RELEASE

For more information contact:
Carleton Sales Team
574.243.6040 option #3
sales@carletoninc.com

 

TILA Adjustment & Reimbursement Review

A Maintenance Fee has been incorrectly disclosed in the FedBox on your contract. Your Truth in Lending Act disclosures are incorrect for hundreds, maybe thousands of transactions. What do you do?

The Truth in Lending Act requires restitution when a disclosure error involves an understated APR or the finance charge exceeds the allowed tolerance. Penalties may result if the error was caused by gross negligence, a willful violation with intent to mislead, or a clear and consistent pattern or practice of violations emerge.

When mistakes have been made, what is a Lender to do? Especially if that Lender is under pressure with a 60-day ‘cure’ window and thousands of transactions to recast?

The Solution: Turn to Carleton

Carleton has 50 years in the Consumer Credit Industry. Our software calculates all different loan types in every state and territory every day of the week. Recasting thousands of transactions in a limited timeframe can only be done by an industry leader with a proven history of processing these difficult calculations. Our process computes reimbursement figures by applying the consensus approach found in the FFIEC’s Joint Statement of Policy regarding restitution.

Jeff Buysse, Vice President of Compliance Services, summed up the benefits of the Carleton reimbursement review services. “We have the ability to assist creditors in providing accurate remediation results addressing APR disclosure errors on either a small or large scale. A handful of transactions to remediate may be manageable for most creditors but if the issue is systemic in nature, there is a need to provide compliant reimbursement amounts for hundreds, or perhaps thousands, of non-compliant disclosures within a very tight time frame. Our primary objective is to help our clients redisclose accurate and compliant contract values and avoid potentially severe penalties.”

Carleton’s loan adjustment and reimbursement analysis computes an accurate adjusted APR and cure sums, if required. Additionally, we can configure the TILA Adjustment & Reimbursement Review to meet your preferred tolerances and objectives. And we will finish in your timeframe with verifiable results!

• Reimbursement Calculations can be configured by:
  • The Lump Sum/Payment Reduction Method
  • The Lump Sum Method
  • A combination of both methods depending upon account status
• Qualifying loans will be cured as of your desired cure date
• Appropriate tolerance levels for the Adjusted APR can be set at different values:
  • 0%
  • 0.125%
  • 0.25%

We will produce a confidential detailed spreadsheet of output results, including the adjusted APR and reimbursement results for each transaction, with more than enough time to implement findings.

To learn more about Carleton’s TILA Adjustment & Reimbursement Review, please contact our sales team at sales@carletoninc.com or 574-243-6040 option #3.

FOR IMMEDIATE RELEASE

For more information contact:
Carleton Sales Team
574.243.6040 option #3
sales@carletoninc.com

 

Collaboration Seamlessly Delivers Loan Computations & Compliance Support

Jacksonville, FL. / South Bend, IN. (May 30, 2019) – Fortegra Financial Corporation (“Fortegra”), a leading international specialty insurer and subsidiary of Tiptree Inc., announces a new partnership with Carleton, Inc., the nation’s leader in financial calculation software, to provide a seamless interface for lending platforms to easily and accurately calculate loan payments with Fortegra’s credit protection product.

This new partnered solution allows Fortegra clients to accurately quote and present Fortegra’s credit protection products directly within their lending platform through CarletonCalcs® API interface. Credit Insurance calculations remain a burden for many lending platforms and this difficulty inhibits product promotion for many lenders.

With more than 150 integrated partnerships, the CarletonCalcs® API has eliminated the calculation burden that lending platforms encounter by providing a proven interface designed with easy integration as a central software feature.

“Automation has become a must-have rather than a nice-to-have requirement in our industry,” said Mike Ferris, Fortegra Senior VP, Credit Protection. “At Fortegra, we’re always looking for new solutions to meet the ever-changing needs of our clients. Thanks to our new relationship with Carleton, we’re making loan submission and accessibility much faster and more efficient, once again helping Fortegra clients ” Experience More.”

Through this integrated delivery, it will easily provide dealers and lenders with the ability to quickly calculate loan information—including interest, fees, taxes, and credit insurance rates—as well as assure that data is compliant within a dealer’s business decisions and governmental regulations. The Fortegra/Carleton partnered solution has been successfully adopted by multiple satisfied clients.

“We’re proud to partner with Fortegra to streamline the loan process for their clients and allow them to accurately compute and present their credit protection products within their client’s lending platforms,” said Matt Ruszkowski, President of Carleton. “As the credit insurance industry continues to adapt to an ever-changing technological landscape and provide automation for its customers, Fortegra is taking the important steps to remain an industry leader with their customers’ ease-of-use and satisfaction as key to that continued success.”

About Fortegra

Fortegra Financial Corporation (a Tiptree Inc. company) and its subsidiaries comprise a single-source insurance services provider that offers a range of consumer protection options including warranty solutions, credit insurance, and specialty underwriting programs. Delivering multifaceted coverage with an unmatched service experience for domestic and international partners and their customers, Fortegra solves immediate, everyday needs, empowering consumers to worry less and Experience More. For more information on Fortegra products and services, visit www.fortegra.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, in 2019 Carleton is celebrating over 50 years of leadership in this rapidly-changing regulatory industry. Carleton assures accuracy in all their calculations and disclosures to enable their partners to fulfill compliance requirements today and 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.

FOR IMMEDIATE RELEASE

For more information contact:
Carleton Sales Team
574.243.6040 option #3
sales@carletoninc.com

 

SOUTH BEND, INDIANA (March 12, 2019): Celebrating its 50^th year in the consumer lending market, Carleton continues to be the industry leader in delivering accurate and compliant calculations to the automotive industry. With software that is integrated within many of the dealer management systems, menu selling solutions, lending portals, and digital retailing platforms, Carleton’s footprint can be seen throughout the automotive retail space.  Following extensive market feedback and discussions with key partners, Carleton has released CarCalcs™, a comprehensive and integrated Sales Tax, Registration and Dealer Fee API to complement their industry-leading CarletonCalcs® solution.

CarCalcs™ was designed to be an easy and flexible integration for any platform provider in order to connect and populate dealer admin settings. The application’s ease of use allows for the seamless onboarding of a dealer and real-time access to registration and dealer fee values.  The data returned from the API is delivered in a format easily consumed by the CarletonCalcs® payment computation module for the precise calculation of retail sales or leases.

These computations provide the following:

• Sales tax rates by state, city, and county
• Sales tax basis including settings for fees and down payments
• Registration fee based on vehicle information
• Dealer fee default amounts by state, including documentation fees
• Lender and DMS default computation settings
• Ability to compute payment and deal information in a single call

The CarCalcs™ Sales Tax and Dealer Fee API integrates Automotive Titling Corporation’s (“ATC”) Title and Registration product into a comprehensive single data channel delivery service.  ATC is the original innovator and industry leader for providing automotive sales tax and registration fees covering all 50 states.

“For over two decades, ATC has processed thousands of transactions through DMVs all over the country.  This has facilitated our ability to build, catalog and uniquely authenticate the most accurate sales tax and registration fee database in the industry,” states Ken Alley, President of ATC. “Our authentication process is a full-time focus of our expert team.”

The car-buying process is shifting to a consumer-driven digital marketplace.  As a result, auto dealers and lenders now need their digital retailing platform to support lending regulations nationwide.  The combination of Carleton’s loan and lease payment calculation engine, Carleton’s compliant state-driven dealer fee database, and ATC’s sales tax and title registration data has resulted in the most comprehensive and accurate payment solution in the automotive digital retailing space.

“We saw a critical need for additional components to calculate accurate payment computations.  This was the impetus for developing CarCalcs™. Through our partnership with ATC, we have expanded our calculation offerings to include sales tax and registration fees,” stated Carleton President & COO Matt Ruszkowski. “We knew we needed a partner with the same level of expertise as our proven calculation services. Partnering with ATC was a logical decision.”

FOR IMMEDIATE RELEASE

For more information contact:
Carleton Sales Team
574.243.6040 option #3
sales@carletoninc.com

 

SOUTH BEND, INDIANA (January 31, 2019): Effective immediately, Matt Ruszkowski has been named President and Chief Operating Officer (COO) of Carleton, Inc. the industry leader in compliant consumer loan calculations and lending document generation software.

Matt will lead Carleton’s experienced executive leadership team towards continued growth and the introduction of new software and services in the lending industry.

“It was important that the next Carleton President demonstrated leadership and our core company values in how he interacts with employees, prospects, and clients.  Matt’s leadership has continually exhibited these core values and he understands the unique market value of our products and expertise in today’s financial services marketplace,” stated Pat Ruszkowski, Carleton’s CEO.

Matt received a management degree from Indiana University and has worked in the consumer lending industry for the last eighteen years. His business background includes new business development, sales, operations management as well as customer and product support.

Matt also led the company’s effort in establishing an automated operational framework which resulted in streamlined client support, enhanced sales and production management, and SOC2 audit compliance.

“Carleton has undergone continuous growth and successfully built upon its decades of experience in the lending industry with more than 150 integrated platform clients.  Matt has been a key part of our success over the last five years.  This management change will assure Carleton continues its substantial momentum and retains its position as an industry leader.  I am very excited about our future,” concluded CEO Pat Ruszkowski.

 

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 50 years of leadership in the rapidly-changing regulatory industry.  Carleton guarantees accuracy in all their calculations and disclosures enabling their partners to fulfil compliance requirements today and 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.