how you can become compliant with the Military Lending
Act (the MLA) / MAPR requirements?
We Can Help.
are offering an MLA / MAPR and Payment Obligation Disclosure
Addendum and an online MAPR Calculator for any Financial
Institution, Lending Institution, or Auto Dealer that
needs an addendum form to their Loan Notes & Disclosures
to be compliant with the Military Lending
Act MLA / MAPR requirement. We also
an Online Military Anual Percentage Rate (MAPR) Calculator
that will easily calculate the MAPR for you given the
has been a new Advisory update that was released in December
that directly affected Auto Dealerships,
especially Buy Here Pay Here Dealerships, and those that
participate in indirect lending with financial institutions.
You are required to provide the same disclosures to your
customers, "covered borrowers", that financial instituions
are required to provide. If you have recently received
a letter from your auto financing institutions, it should
have contained a letter referring to this
you're visiting here from a Car or Truck Dealership
help" you become compliant. Give us a call or send
us an email today.
MAPR & Payment Obligation Disclosure form will provide
the necessary disclosure information for your customers,
pursuant to the Military Lending Act (10 U.S.C.A. § 987)
and Department of Defense regulations (32 C.F.R. §232.1
et seq.). We can provide this form to you in nearly any
format that you need for your Data Processing System
or (LOS) Loan Origination System to be able to print
the necessary customer data on the form.
Disclosure form is available for any Financial Institution
or Lending Institution for an initial $60 setup fee and
$120 per year license fee. The first year cost would
be $180 and $120 per year for licensing of the form thereafter.
us today... "We Can Help".
MLA / MAPR Calculator can only be used by Financial or
Lending Institutions that subscribe to our service. We
have implemented an IP based security that checks the
IP address of the end-user to ensure that it matches
up with the subscribed Financial or Lending Institution.
This calculator can be used manually or automated with
a Financial or Lending Institutions data processing system.
be integrated to the Financial or Lending Institution's
data processing system you would have to contract with
your DP or IT services to create the interface to the
calculator. This is accomplished by simply making a call
to the calculator via a simple URL request. Upon receiving
the URL request the calculator will verify the Financial
or Lending Institution via their IP address and then
display the results at which time the user would be able
to print the results.
manual calculations the subscribed Financial or Lending
Institution needs to just visit the website using their
subscribed URL and enter in the required parameters and
fees manually and click the Calc MAPR button to display
are offering access to the MAPR Calculator and Results
Report for an initial $60 setup and $120 per year license
fee. The first year cost would be $180 and $120 per year
understand that the Regulations do not require to the
institution to provide the calculated results to the
member(customer) but they have to have some means of
calculating the MAPR at the time of the loan closure
for closed-end credit and every billing cycle for open-end
accounts. Based on this understanding, it would be best
practice for the Financial or Lending Institution's to
have a printed report at the time of the loan/account
inception as part of the Financial or Lending Institution's
loan documents for auditing.
Open-End Loans the report will list the payment schedule
as provided and determine if at any time during the payment
schedule the MAPR may exceed the 36% limitation and flag
that appropriately. For example: if the Financial Institution
charges an Annual Fee while the account is opened or
charges a withdrawl fee for an advance (not a participation
fee), that fee as assessed in that payment period may
cause the MAPR to exceed the 36% limit. Our MAPR Calculator
Results will show that on the report and suggest to the
financial institution that either the fee needs to be
waived or reduced.
you elect to have access to both the Calculator along
with the Results Report, and the MLA / MAPR and Payment
Obligation Disclosure form we will provide a discount
of 25%. The setup fee would be $90 and the annual cost
would be $180 per year. That would be $270 in the first
year and $180 per year thereafter.
you have ANY questions about our service, please contact
us at mlamapr @ mlamapr.com and/or
call us at 317-886-8528 or toll-free at 888-886-8528. We're
here to help.
are some facts regarding the MLA / MAPR.
are some Helpful Links for you to use to learn more about
the MLA/MAPR regulations.