FOR IMMEDIATE RELEASE

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

 

As October 3^rd approaches, the Carleton team wants to ensure that our partners are equipped to comply with the new Military Lending Act requirements.

The maximum 36% Military Annual Percentage Rate (MAPR) requirement has been in effect since January 2007, but only applied to payday, vehicle title, and refund anticipation loan products.  Effective October 3, 2016, nearly all loan products provided by lenders extending credit to active military personnel must comply with the maximum 36% MAPR.

“Military Interest” included the finance charge as defined in TIL Reg. Z, as well as the following fees and premiums items:

• Application fees (new requirement)
• Points, origination fees, participation fees – all fees in the TILA Reg. Z finance charge
• Any premium or fee for credit insurance.
• Any debt protection charges/fees (cancellation and suspension)
• Any credit-related ancillary product sold in conjunction with the transaction

The CarletonCalcs® Origination Module has been updated to define which fees will be included or excluded for purposes of calculating the Military Interest and MAPR.  This update to CarletonCalcs® will enable our partners’ lenders to individually define which fees will be treated as Military Interest for each individual loan product.

If you have any questions regarding this release and how Carleton can help you stay compliant with the MAPR requirements, contact your Carleton sales or support representatives at (800)433-0090.

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.

 

FOR IMMEDIATE RELEASE

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

 

The OriginationPlus module leverages the CarletonCalcs® Origination and Compliance modules together in a single API call to compute transactions that are compliant from internal institutional thresholds as well as federal, state usury requirements.

OriginationPlus allows Carleton’s clients to maximize their profit by computing transactions at or near internal and state maximum allowable rates.  If a specific transaction exceeds the state usury or internal maximum policy interest or finance charges, Carleton’s Origination Plus engine will reduce the interest rate automatically, consistent with an amount set by institutional guidelines, until the transaction passes the compliance validation.

This solution allows Carleton’s partners to streamline the compliant calculation process by utilizing one API call versus computing multiple transactions and validating compliance separately.

For more information on OriginationPlus, please contact your Carleton Representative.

 

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.

FOR IMMEDIATE RELEASE

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

Suite of Software and Auditing Services for Generating Compliant Loan Calculations and Documents

South Bend, IN (January 29, 2016): Carleton Inc., a leading provider of compliant loan calculation and document generation software solutions, has announced the next generation suite of software, Carleton Lending Solutions, including CarletonCalcs®, CarletonDocs®, CarletonAccess®, and CarletonAudit®.

Carleton Lending Solutions incorporates the latest upgrades to the firm’s LoanSmart Solutions that have been adopted by major lending software providers for over 20 years.  These lending solutions represent Carleton’s commitment to delivering software that meets Consumer Financial Protection Bureau (CFPB) third-party vendor compliance recommendations and consumer privacy and security requirements.

In 1996, Carleton introduced LoanSmart Lending Solutions that included web applications and software modules that easily integrated with loan origination systems to perform compliant loan calculations and the seamless generation of lending documents.  Twenty years later, Carleton’s LoanSmart solutions are used by over 125 lending software providers to meet the compliance requirements of their clients.

“Carleton’s ability to adapt our software and support to the ongoing changes in technology, lending, and compliance has made us the preferred partner of loan origination software providers who recognize the importance of having long-term compliance support for their lenders,” commented Pat Ruszkowski, president and CEO of Carleton. “We renamed our next-generation lending solutions using the Carleton name to reflect our company’s 45+ year compliance leadership in the lending industry.  Our compliance support and active dialogue with the federal and state regulators to assist our clients in this complex and highly regulated lending environment is built into all our lending solutions.” Carleton Lending Solutions’ suite of software supports all types of lending activities, including mortgage, consumer, auto lending and leasing, payday lending, and business lending.

 

About Carleton, Inc.

Carleton is the leading provider of compliant and easy-to-use lending and leasing calculation software and document preparation software serving the lending and auto industry. Founded on compliance expertise at a federal and state level in 1969, the company’s client list has grown to include most of the major lenders, credit insurance companies, and loan origination software providers in the United States. 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

 

Partnership Helps Financial Institutions Automate the Lending Process, Meet TRID Requirements

LINDEN, NJ (August 4, 2015): IMM, a pioneer of integrated eSignature, workflow, and document solutions for the modern business enterprise, and Carleton, a provider of compliant consumer lending calculations and document generation services, have forged a partnership enabling loan documents generated through Carleton’s CarletonDocs® to be eSigned with IMM’s eSignature solution, TotaleAtlas.

This partnership allows banks and credit unions to deliver convenient, flexible eSignature options for consumers to complete loan documents. The integrated solutions also support the new TILA RESPA Integrated Disclosure (TRID) guidelines from the Consumer Financial Protection Bureau (CFPB), which is currently scheduled to become effective on October 3, 2015.

“By integrating our CarletonDocs® solution with IMM’s TotaleAtlas, a financial institution’s customers can eSign loan documents either in-person at a branch or remotely from any location or device,” said Pat Ruszkowski, president of Carleton. “We saw an ideal opportunity with IMM to unite our solutions and empower our financial institution customers to improve productivity and the customer experience through transaction automation.  Partnering with IMM provides our customers with a proven and compliant eSignature solution.”

CarletonDocs® support the generation of all the lending documents related to each individual loan product offered by the lending institutions.  Carleton supports the lender’s custom documents, the documents provided by all major third-party document providers, as well as the dynamic generation of disclosure documents based on the attributes for each loan, ensuring lenders meet prescribed TRID requirements.  Now, prepared lending documents can be seamlessly delivered to IMM’s TotaleAtlas, creating an expedient eSignature process and further promoting compliance through an enhanced TotaleAtlas signing event audit file and rules-based eSignature management.

“Even with the TRID deadline extension, banks and credit unions are still under enormous pressure to implement the automation necessary to comply,” said John Levy, IMM executive vice president and ESRA (Electronic Signature & Records Association) board member. “Carleton and IMM have two products that complement one another, and it became a natural fit to help more financial institutions leverage eSignatures and automate their processes to meet the quickly approaching requirements and regulations. Now, Carleton’s financial institution customers can fully manage the signing event while providing consumers an intuitive, convenient experience.”

 

About Carleton, Inc.

Carleton Inc., based in South Bend, IN, is the leading provider of financial lending and leasing calculation software, compliance support, and document generation software. Founded in conjunction with the Truth-In-Lending Act in the late 1960’s, their client list has grown to include many of the major automotive finance companies and lenders, automotive lending software providers, loan origination software providers, and credit insurance companies in the United States. To learn more about Carleton’s lending solutions, contact our sales team at sales@carletoninc.com or 574-243-6040 option #3.

 

About IMM

Based in Linden, N.J., IMM develops and delivers innovative technology solutions that enable financial institutions to electronically streamline their business operations and processing environments. With a strong and secure legacy of serving more than 650 banks and credit unions with solutions for eSignature capture, business process (workflow) automation, and document presentment, IMM continues to create advanced software applications that promote clients’ sustainability while dramatically increasing productivity and operational efficiencies. The company is a longtime advocate of eSignature adoption and education, active in ESRA to advance the public’s understanding of issues surrounding the use of electronic signatures and records. For more information, visit www.immonline.com

FOR IMMEDIATE RELEASE

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

 

South Bend, IN (November 11, 2014): Carleton, the leading provider of compliant consumer lending calculations and document generation services to financial lending institutions nationwide, has enhanced their CarletonDocs® and CarletonCalcs® software to meet the new Consumer Financial Protection Bureau (CFPB) mandated disclosure requirements for consumer mortgage loans. The Integrated Disclosure rule requirements are part of the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) that go into effect on August 1, 2015.

The TILA/RESPA Integrated Disclosure regulation requires the Loan Estimate (formerly “Good Faith Estimate” and “Early TILA Disclosures”) and Closing Disclosure (formerly “HUD-1 Settlement Statement”) documents to be based on the unique features and attributes specific to each individual real estate secured loan. Additional calculated disclosure data will be required to produce the disclosure documents. Over 1,000 different disclosure formats can be required as prescribed by the regulation, depending on the specific characteristics of the selected loan product.

Carleton’s solution dynamically generates the disclosure documents based on the attributes for each individual loan, ensuring the lender meets each prescribed requirement of the new regulation.  “The dynamic generation of documents provided in CarletonDocs® enables an LOS provider to support the upcoming TILA/RESPA regulations as well as any future dynamic requirements by the regulators and lenders,” said Deb Grounds, vice president of software services at Carleton.

New software enhancements include all the additional disclosure calculations, alphabetic sorting of fee fields, and the dynamic composing of the fields, formats, and text in the generation of the disclosure documents.   Security and version control enhancements have also been added to ensure accurate generation of compliant disclosure documents.  Carleton’s solution can be easily integrated and requires no changes to the document generation services already used within the LOS.

“In today’s lending environment, lenders will change their loan products and features to stay competitive,” says Pat Ruszkowski, president and CEO of Carleton.  “Under the new regulations, lenders will need to make sure that the format of the disclosure documents remains in compliance when changes are made to their loan products.  Carleton’s CarletonDocs® solution provides the “peace of mind” that generated disclosure documents always meet the prescribed disclosure rules.”

 

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.

FOR IMMEDIATE RELEASE

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

 

GRAPEVINE, TX (August 5, 2014): defi SOLUTIONS, the developer of an industry-leading cloud-based Loan Origination System (LOS), announced it has integrated Carleton CarletonCalcs® into its platform. defi SOLUTIONS customers will be able to access Carleton’s 40+ years of compliance expertise to ensure federal and state lending interest, fees, and the annual percentage rate maximums are not exceeded. From within the defi system, SmartCalcs automatically validates the loan disclosure items against state usury laws and federal TIL, assuring clients’ compliance. Carleton will also keep defi clients up-to-date with all regulatory compliance requirements on an ongoing basis.

“defi SOLUTIONS shares our same objective of providing customers with a comprehensive set of validation tools that allow them to focus on their business and customer relationships instead of managing the complex federal and state compliance requirements,” said Pat Ruszkowski, President and CEO of Carleton.

With defi SOLUTIONS, clients have the ability to coordinate the lending process from end-to-end (the online application to decision to verification and then to underwriting). defi’s program increases efficiency by minimizing manual processes. defi SOLUTIONS created an LOS that meets the complex requirements of large institutions but is also quick to deploy, scalable, and affordable for the general auto financing industry.

“Integration with Carleton will give defi clients the ability to more easily comply with federal and state lending regulations from within their LOS,” said Stephanie Alsbrooks, CEO of defi SOLUTIONS. “Our clients will also be able to validate against in-house defined underwriting lending requirements, which further extends our goal of offering the most flexible and configurable LOS on the market.”

 

About Carleton, Inc.

Carleton is the leading provider of compliant lending and leasing calculation software and document preparation software serving the financial and auto industry. Founded on compliance expertise at a federal and state level, their client list has grown to include most of the major lenders, credit insurance companies, and loan origination software providers in the United States. To learn more about Carleton’s lending solutions, contact our sales team at sales@carletoninc.com or 574-243-6040 option #3.

About defi SOLUTIONS 

defi SOLUTIONS provides the only leading-edge, browser-based loan origination system (LOS) that is completely configurable by lenders. The defi system allows auto lenders to manage the loan lifecycle from a single, highly flexible platform. The defi LOS is affordable, scalable, and easily accessible from internet devices.www.defiSOLUTIONS.com.

FOR IMMEDIATE RELEASE

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

 

Columbia, MD (August 10, 2012): Credit Management Solutions Inc (CMSI), a leading provider of credit automation systems for all types of consumer lending, announced today the full integration of Carleton’s consumer lending calculation and compliance engine, SmartCalcs, into their loan origination system, Origenate. SmartCalcs combined with Carleton’s customer support will provide an enhanced option to CMSI’s clients for compliant computational accuracy.

With Origenate, lenders can utilize CMSI’s powerful decision engine to ensure that each step in the process is complete and compliant. Origenate features self-documenting tracking and audit trails, identity verification, red flag rules, and much more, including lender-defined rules and parameters. “Adding Carleton’s compliant calculations is a natural next step in extending our capabilities and giving lenders the best available compliance tools,” said Chip
Riordan, President and CEO of CMSI.

“Compliance and calculation accuracy are top priorities in this new regulatory environment. To meet the compliance requirements of more than 250 Consumer Lending state laws and regulations nationwide, we turned to Carleton, the most experienced in the industry for calculation accuracy and compliance support,” added Chip Riordan.

Patrick J. Ruszkowski, President and CEO of Carleton, believes the alliance with CMSI is an absolute “win-win” situation for both companies. “Compliance is certainly critical to the success of any financial service provider,” he noted, “and we appreciate the opportunity to combine both of our companies’ expertise in providing a very strong loan calculation and compliance support solution within Origenate. Carleton is pleased to be working with one of the long-time LOS providers in the consumer lending industry.”

About Credit Management Solutions Inc. (CMSI)

With over two decades of industry leadership, CMSI is a premier provider of advanced credit automation solutions. CMSI solutions handle the processing and decisioning of all types of consumer credit. Using web-based, opensystems technology, these solutions also provide integration with popular application aggregators, client websites, major fraud and ID verification providers, and loan servicing solutions, as well as the major credit bureaus. Additionally, CMSI provides support for advanced eSignature and other electronic document technologies. The choice of many of North America’s largest lending institutions and other organizations, CMSI offers software as a service on a transaction basis or through a traditional software license. For more information, visit www.cmsinc.com.

About Carleton, Inc.

Carleton Inc. is the country’s leading provider of financial calculation software, loan origination and compliance support, and document delivery software. Founded in conjunction with the Truth-In-Lending act in the late 1960’s, their client list has grown to include most of the major lenders, automotive finance captive companies, credit insurance companies, and loan origination software providers in the United States. Carleton Inc. is headquartered in South Bend, Indiana. 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

 

OVERLAND PARK, KS (May 5, 2014): VinSolutions, Inc., a marketplace leader and developer of Internet-based customer relationship management (CRM) for the automotive industry, announced today the integration of Carleton’s CarletonCalcs® consumer lending and leasing calculation engine into its recently enhanced desking platform. Carleton provides lending compliance software products to many of the major lending captives and lenders in the auto industry. This new integration will enable VinSolutions dealers to stay in compliance with auto lending regulations, which frequently change.

“At VinSolutions, we are committed to making it easier for salespeople to close deals faster and easier, and providing a comprehensive desking solution is a key component in achieving that goal,” said Brian Skutta, vice president and general manager of VinSolutions. “We needed a partner that understands the ever-changing auto lending regulatory environment, and this integration of CarletonCalcs® will help our dealer customers stay in compliance today and when regulatory changes occur in the future.”

Within VinSolutions’ newly enhanced desking platform, Carleton’s CarletonCalcs® software provides greater compliance and accuracy for all the lending and leasing computations at the state, federal, and lender level nationwide. Along with handling all methods of computations in the auto industry, the robust calculation functionality of CarletonCalcs® also handles the expansive tax and fee computations for loan and lease transactions nationwide.

“Accuracy and compliance support are certainly critical to the success of VinSolutions providing a complete desking solution to their dealers,” said Patrick J. Ruszkowski, president and CEO of Carleton. “With more than 40 years of experience, we are confident that our time-tested expertise in providing compliant calculation support will be highly beneficial to VinSolutions’ customers.”

This new integration is the latest in a round of enhancements that VinSolutions has released this year for its desking platform. Other new features provides sales people with the ability to manage multiple deals at once, render deals on a tablet or mobile device, reduce redundant data entry, and provide for a more transparent and improved customer buying experience.

About VinSolutions

VinSolutions® helps dealers make every customer connection count by providing sophisticated, yet easy-to-use software solutions that span the scope of dealership operations. With its cloud-based system, VinSolutions’ all-in-one internal management, sales and service marketing solutions platform is accessible from anywhere an Internet connection is available, including mobile devices. VinSolutions is OEM certified by every major manufacturer and is ADP, Reynolds & Reynolds and DealerTrack DMS certified. Founded in 2006 and headquartered in Overland Park, Kansas, VinSolutions is wholly owned by AutoTrader Group™, which also includes AutoTrader.com®, Kelley Blue Book®, vAuto®, HomeNet Automotive® and Haystak™ Digital Marketing. AutoTrader Group is a subsidiary of Cox Enterprises. Visit VinSolutions online at www.vinsolutions.com.

About Carleton, Inc.

Carleton Inc., based in South Bend, IN, is the leading provider of financial lending and leasing calculation software, compliance support, and document generation software. Founded in conjunction with the Truth-In-Lending Act in the late 1960’s, their client list has grown to include many of the major automotive finance companies and lenders, automotive lending software providers, loan origination software providers, and credit insurance companies in the United States. 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

Partnership Enhancing Lending Computations and Compliance Support to Deal Operator System

South Bend, IN (August 3, 2010): Wilson Technologies Inc. announced today that it has partnered with Carleton, Inc. to incorporate Carleton’s industry-leading SmartCalcs loan origination software as part of their Deal Operator CRM/Desking Tool servicing automotive dealers nationwide.

Wilson Technologies, Inc., the industry’s leading smart and efficient choice for a complete solution providing security/red flag compliance, desking, sales/finance controls & utilities, customer relation/retention lead management system to push/pull integration with most DMS systems.

Incorporating Carleton’s SmartCalcs will ensure that all loan computations are accurate and in compliance with all federal and state regulations. SmartCalcs will also accurately calculate all the additional dealer ancillary products such as service contracts, warranties, GAP, and credit insurance specific to each dealer, ensuring a complete “compliant” solution.

“Wilson Technologies is committed to bringing the best possible lending compliance support to our dealers nationwide by making Carleton and SmartCalcs part of our solution. We’re very excited to assist Carleton in delivering their platform to our dealers and ours to theirs. Any program that enhances dealership business practices is a major benefit to an auto dealer,” said John Parent, President of Wilson Technologies, Inc.

“Carleton is proud to bring our forty years of lending experience as a strategic partner of Wilson Technologies. Carleton’s ability to support all the auto computations used in the industry nationwide will assure the Wilson Technology dealer that their system will support all the lending and leasing requirements today and in the future,” said Pat Ruszkowski, President of Carleton, Inc.

About Carleton, Inc.:

Carleton Inc. is the country’s leading provider of financial calculation software, loan origination compliance support, and document delivery software. Founded in conjunction with the Truth In Lending Act in the late 1960’s, their client list has grown to include most major lenders, credit insurance companies, auto and banking loan origination system providers in the United States. Carleton, Inc. is headquartered in South Bend, Indiana. To learn more about Carleton’s lending solutions, contact our sales team at sales@carletoninc.com or 574-243-6040 option #3.

About Wilson Technologies, Inc.:

Wilson Technologies, Inc. was founded in May of 2000 in Detroit, Michigan, and is the automotive industry’s leading choice for a complete retail solution. Wilson’s core competency provides for a transactional web-based tool for security and compliance against identity theft, robust platform sales/finance controls and utilities, and sales and service customer relation/retention management system. Wilson Technologies provides red flags protection, standardizes and streamlines practices, builds revenue and increases profits for single point stores and for some of the largest dealer groups in the country. For more information, visit wilsontechnologies.us

FOR IMMEDIATE RELEASE

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

 

Brookfield, WI (November 26, 2007): Fiserv, Inc. (NASDAQ: FISV) announced that it is embedding Carleton Inc.’s CarletonCalcs® financial compliance software into its Fiserv Automotive Solution’s Loan Origination System (LOS). Adding CarletonCalcs® directly into the Fiserv LOS automates rate calculations, validates state usury law compliance, and keeps clients up-to-date with all regulatory compliance requirements on an ongoing basis.

As a leader in automotive lending automation, Fiserv recognized synergies in integrating Carleton’s best-in-class compliance tools. The robust calculation functionality of CarletonCalcs® enables both current and future Fiserv LOS clients to accurately support a wide array of payment frequencies, skip payments, and irregular payment arrays or automotive loans and leases. CarletonCalcs® accurately accounts for all insurance and after-market add-ons, as well as all federal, state, and institutional requirements that impact loan APR calculations.

Use of the calculation and compliance tools is seamless for Fiserv LOS clients. Dependence on maintaining tables is eliminated because regulatory updates are compiled automatically by the solution. “Fiserv is committed to bringing additional value to our clients by making CarletonCalcs® functionality part of our solution,” said Kevin Collins, president of Fiserv Automotive Solutions. “This integration automatically makes our Fiserv LOS clients compliant with federal and state lending regulations. Instead of dealing with the complexity of maintaining regulatory compliance state-by-state, lenders can focus their resources on bringing in more business.”

“Having SmartCalcs available within the Fiserv LOS application alleviates compliance maintenance issues,” said Pat Ruszkowski, president and chief executive officer of Carleton. “Carleton is pleased to work with Fiserv to deliver accurate and reliable tools that make the lending process more efficient.” The Carleton-enhanced calculations and corresponding product capabilities are the foundation to expand the breadth of the Fiserv LOS loan and lease compliance, as well as for future advancements.

About Carleton, Inc.

Carleton Inc. is the country’s leading provider of financial calculation software, loan origination compliance support, and document delivery software. Founded in conjunction with the Truth in Lending Act in the late 1960s, its client list has grown to include most of the major lenders, credit insurance companies, and loan origination software providers in the United States. To learn more about Carleton’s lending solutions, contact our sales team at sales@carletoninc.com or 574-243-6040 option #3.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.4 billion in total revenue for 2006. For more information, please visit www.fiserv.com.