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History / Background |
Electrosonics, Inc. 17150 15 Mile Road Fraser, Michigan 48026-3442 |
Exec-Amort™ Loan Amortization Software for Windows
Electrosonics announces a new edition of Exec-Amort™ Loan Amortization Software
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Fraser, Michigan, January 2003: Electrosonics, Inc., 17150 15 Mile Road, Fraser, MI 48026; https://www.execamort.com, has released a windows version of Exec-Amort™ loan amortization and APR software for financial institutions, public accountants, attorneys. The new Windows based program addresses the needs of the attorney for accuracy and flexibility in loan amortization reports.
Hello! It is good to be with you again. We are excited to brief you on what’s new in the amortization world of Exec-Amort. First, as a backdrop to the new release, a history of our progress and user loyalty is appropriate. Electrosonics first developed loan amortization software as an investment tool for real estate investors as a UNIX based software product in 1982. This first rendition of the Electrosonics amortization software dealt with monthly payments and allowed changes of interest rates. These features alone were quite useful at the time for making investment decisions. By 1985, when the personal computer became mainstream, David Barker, the creator of the UNIX based amortization re-wrote the program to run on MS-DOS based personal computers and the product was named Mortgage & Loan Planner – “MLP”. The feature set included 11 scheduling methods, extra payments, balloon payments, and comparison tables. A successful marketing campaign was launched for MLP, by Philip Barker with such media as the Wall Street Journal, direct mail and press releases. A nationwide U.S. network of dealers was also established to re-sell the MLP software. In 1987, Electrosonics experimented with a scaled down version of MLP called Instamort. The market appeal was minimal as most buyers preferred the full feature set of MLP. Instamort and MLP were soon to be replaced with a new release of amortization software by Electrosonics. |
In 1989, after adding features such as Regulation-Z APR’s, Loan Payment Calculator, Solve for the Unknown, Yield, Present Values, Points & Fees, Private Mortgage Insurance, and file storage, the MLP product was re-named Exec-Amort – Loan Amortizer Plus. The addition of these new features brought on new markets such as Financial Institutions, Real Estate Attorneys, CPA’s and Government. International appeal for the Exec-Amort software also started to surface. The Exec-Amort product utilized the same network of established dealers.
Throughout the 1990’s Exec-Amort continued to be marketed through the existing channels. There were several updates that occurred in the 1990’s to add such features as short and long first periods, multiple printer support, multiple user license support, and Y2K support. All during the 1990’s Exec-Amort remained a DOS based product. Towards the end of the 1990’s many customers inquired upon a Windows release for Exec-Amort. In 1998, David Barker started the conversion process of Exec-Amort DOS version to the Windows version. The software writing foundation platform was selected and we determined that absolutely none of the original source code from the DOS based Exec-Amort product could be transferred to the Windows based platform. This meant that all of the calculation algorithms of Exec-Amort DOS had to be re-written, verified for accuracy and inter-program tested with other features of the Windows based release. It soon became apparent that this re-write would take an enormous amount of time. In comparison, the DOS code took only 384kb of programming space, whereas the Exec-Amort Windows code consumes over 15 times the amount of code to perform the same functions as the Exec-Amort DOS product. The Exec-Amort DOS product had a very long lifespan in the market as attested to by over 18 years of marketable use through such platforms as DOS, Windows 3.11, Windows 95, 98, 2000, Millennium, and XP. |
So many times we have received positive feedback from users our Exec-Amort DOS program. Many indicated that Exec-Amort was the last DOS based program in use on their PC’s. Each day we receive feedback from many users that echo of how much they liked the simplicity and usefulness of the program and could not part with it, even though everything else on their machines are Windows based. We truly appreciate the feedback and patience of our loyal Exec-Amort users.
Please note that Exec-Amort for windows is not shareware. Thank you for your interest in Exec-Amort Loan Amortizer Plus for Windows. We look forward to serving you. |
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Execamort Loan Amortization Software Developed by Electrosonics, Inc.
©1997-2002, 2003, 2019 Electrosonics, Inc., Fraser, Michigan |