BrooksWebcalcs v1.1 is the most accurate and flexible mortgage disclosures tool on the market for complying with Regulation Z of the Truth in Lending Act. With the Brooks.DLL (math engine) as the driving force behind the BrooksWebcalcs application, the lender receives the same functionality that was available in the Brooks software with the added benefit of allowing multiple users to be logged into the application simultaneously.
BrooksWebcalcs can provide Truth in Lending disclosures and APR verification for any loan type, including construction loans, interest only, negative amortization, dual amortization, pay option ARMs, reverse mortgages and any other loan type. Version 1.1 embeds our popular HCLA anti-predatory lending analysis tool for added convenience!
BrooksWebcalcs was designed as a web-based application to meet the demands of a constantly changing marketplace. With our easy-to-learn, easy-to-use web-based product and the Brooks name, you can be assured that the results are accurate. There are never any updates to install or any additional software to purchase. As long as the user has web access, the tool to disclose any loan is a click away.
Brooks Webcalcs Features and Benefits
- Calculates an accurate TIL for any mortgage loan product on the market, including dual amortization loans, pay option ARMs, hybrid ARMs, assumptions, construction-to-permanent loans and many other mortgage products.
- Recalculates APR, Finance Charge, Amount Financed, Total of Payments, and Payment Schedule.
- Enables the user to itemize or summarize prepaid finance charges for more accurate results.
- Provides a secure environment for completing TIL disclosures.
- Can be used as an audit tool to check the accuracy of TILs generated by loan origination systems.
- Includes links to all major indices for quick and easy lookups
- No costly software to buy and maintain