10/18/2007 - Math Corp. releases Web-based loan calculation engine
610 South Street
Green Lake, WI 54941
Contact: Michael Shohoney/920-294-0180
Math Corp. releases Web-based loan calculation engine
Green Lake, Wis. – Math Corp. recently released its Web-based ZMathEngineXML®, a new product delivering a wide breadth of loan calculations via the Internet, instantaneously. ZMathEngineXML® utilizes simple XML technology to work seamlessly with nearly any software architecture.
ZMathEngineXML® allows lenders, mortgage brokers and loan originators to post an XML (text) document to Math Corp.’s secure server and quickly receive an XML loan calculation response with the full breadth of output fields. A proven calculation component, ZMathEngineXML® calculates mortgage and auto loans, annual percentage rates (APR), interest-only loans, payment-option APRs, weekly mortgages, amortization schedules and
No confidential information is exchanged using ZMathEngineXML® and all calculations comply with the Federal Truth in Lending Act (Regulation Z).
“You can use the calculation engine within minutes of establishing an account,” said Michael Shohoney, president and director of development at Math Corp. “For those who need calculations right away, ZMathEngineXML® delivers without a contract or start-up costs.” Rather, users are billed based on how often they use ZMathEngineXML®.
“It’s a very simple process for the user,” said John Park, client services manager at TrueClose, a company providing software and services to the mortgage industry. TrueClose uses ZMathEngineXML® as part of its Web-based loan origination system to obtain Truth in Lending calculations. “It takes just a couple of seconds from the time you click on ‘calculate’ to when the data is returned,” said Park. “The data response is always accurate, which gives our users a sense of stability and comfort knowing they can always count on the calculations.”
ZMathEngineXML® is derived from Math Corp.’s longstanding and proven ZMath® Engine, a loan calculation component in use for more than 15 years. ZMathEngineXML® now allows users to access the ZMath® Engine online, via Math Corp’s secure Web site.
Established in 1982, Math Corp. delivers technologically advanced software products to seamlessly and accurately perform a myriad of complex loan, savings and deposit calculations. Math Corp. products are backed by unmatched personal service and support and available in a variety of formats, including Web-, desktop- and component-based.