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CalyxSoftware News
May 2016
 
 
CalyxSoftware User Conference
 
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Joan England, Senior Director of Sales and MarketingLetter from the Editor: Investing in Your Business…And Your Success
In today’s complex, compliance-focused market, simply having great technology won’t guarantee your business success (or even survival). That’s why we’re hosting our first annual user conference — October 5-8, 2016 in New Orleans, Louisiana (registration is open now), to give you the opportunity to hear about the changes happening in our industry, how they impact your business, and how to best leverage CalyxSoftware’s technology so you can rise to the next level of success. 
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Point® and PointCentral® Versions 9.3 are now available
On March 1st the CFPB provided further clarification about Construction and Construction-to-Permanent loans (webinar this week). As a result, we are making the following changes in the -released Point and PointCentral 9.3
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Did You Know…
You can access The Work Number, Equifax’s employment verification database, directly from Point? Go to Services > Verifications > Request Verifications on the main menu and select The Work Number from the Verification Services Provider dropdown list.
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What You Need to Know About Trended Credit Data
Last fall Fannie Mae announced that it will start requiring all lenders to use trended credit data when underwriting single-family borrowers through Desktop Underwriter®
Find Out More
What Can Calyx Pricer Do For You? A Lot!
Price loans in a paperless environment while providing the speed, accuracy and documentation your business demands with Pricer®.
Find Out More
PathSoftware in the News
PathSoftware™, our new, highly structured, cloud-based LOS, has been in the news a lot lately...
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In Case You Missed It…
Ben Wu, executive director of our LoanScoreCard® division, presented an informational session at the recent ABA Real Estate Lending Conference.
Find Out More
Don’t Get Sidetracked This Home Buying Season
Purchase originations are expected to rise, from $881 billion in 2015 to $973 billion in 2016, according to the Mortgage Bankers Association.
Find Out More
2016 Conference Calendar
Each year CalyxSoftware® and our partners sponsor events that provide a unique opportunity to learn more about Calyx, our innovative products, and our future direction.
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CONTACT CALYX CALYX SUPPORT CALYX EVENTS
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Products Knowledge Base
CALYX EVENTS
2016 Tradeshow Calendar
Special Events and Webinars
 
 
Joan England, Senior Director of Sales and Marketing
Investing in Your Business…And Your Success
Joan England, Senior Director of Sales and Marketing

In today’s complex, compliance-focused market, simply having great technology won’t guarantee your business success (or even survival). You must also understand the changing lending and regulatory landscape, know how to effectively market and compete for new business, and be prepared to take advantage of new products and opportunities…all while building meaningful business relationships with customers, vendors and partners.

That’s why we’re hosting our first annual user conference —October 5-8, 2016 in New Orleans, Louisiana (registration is open now), to give you the opportunity to hear about the changes happening in our industry, how they impact your business, and how to best leverage CalyxSoftware’s technology so you can ascend to the next level of success.  

We already have quite the line up! Barbara Corcoran, real estate mogul and business expert from Shark Tank, and David Pogue, host of NOVA ScienceNow and Yahoo Tech founder, are scheduled to deliver keynote addresses. And we’re planning more than 30 specialized breakout sessions and workshops led by industry insiders. The sessions, panels, entertainment and location are all designed with one objective in mind — success for your business and your employees. Sample topics include:

  • The current state and future of the housing and mortgage markets
  • Reaching the next generation of homebuyers
  • Preparing for regulatory exams
  • Getting ready for upcoming HMDA changes
  • Lessons learned from TRID after the one-year anniversary
  • Upcoming TRID changes and what they’ll mean for your business
  • And much more!

Save big with our Early Bird Discount when you and your team register by June 30, 2016.

In addition, the first 50 registrants will be entered into our drawing to win a $75 gift card to one of three NOLA eateries (Brennan's Restaurant, Commander's Palace or NOLA Restaurant).

Hope to see ya’ll in NOLA!

Product Updates

We’re pleased to announce that Point® and PointCentral® Versions 9.3 are now available.

Point highlights include:

  • Updates to support the export of Fannie Mae Phase 2-compliant ULDD.
  • Changed the Purpose field type on the Loan Estimate and Closing Disclosure to dropdown lists to accommodate various construction loan scenarios. This field is automatically populated one time from the initial Purpose of Loan selection made on the Loan Application.
  • Updated the Loan Terms table on the Loan Estimate and Closing Disclosure to properly display construction phase data for construction-to-permanent loans.

For more information, see the complete PointCentral release notes, and What’s New in PointCentral.

PointCentral highlights include:

  • Added support for 50 new fields.
  • Added rules support for 800 new fields, including TRID fields.
  • Enhanced user password security requirements to require multiple character attributes and allow the use of special characters.

For more information, see the complete PointCentral release notes, and What’s New in PointCentral.

Register for video:

Read New Knowledge Base Articles:

Register for our live webinar on May 19th for details about the construction and construction-to-perm features added in this release.

In addition, WebCaster® Version 3.2, Service Pack 4 (SP4) is now available. Updates include:

  • Modifications that are made to borrower instructions for completing the long form application are now saved properly.
  • An attestation check box was added to the 4506/4506-T electronic signature form for borrowers to acknowledge during document signing.

For help with Point and PointCentral 9.3, WebCaster 3.2 SP4, or any of our products, please contact Calyx Support at 800.342.2599.

Did You Know…

  • You can access The Work Number, Equifax’s employment verification database, directly from Point? Go to Services > Verifications > Request Verifications on the main menu and select The Work Number from the Verification Services Provider dropdown list.

    Order directly from Point to:
    - Eliminate duplicate data entry and streamline your process
    - Reduce errors
    - Import information directly into Point from The Work Number
    - Receive a single monthly bill
  • Document management is always included in Point at no additional cost? Our Knowledge Base includes a document management section with articles that show you how to attach documents to loans in Point, add and use stacking orders, handle error messages, and much more!

What You Need to Know About Trended Credit Data

Last fall Fannie Mae announced that it will start requiring all lenders to use trended credit data when underwriting single-family borrowers through Desktop Underwriter®. Fannie’s goal is to help bring more certainty to lending and help borrowers get better access to sustainable mortgage credit.

Trended credit data reflects 24 months of historical data on borrower credit payments, including the effective date of the trended data, current limit, current balance, high balance, scheduled payment, and actual payment amount. Trended credit data is intended to help you better ascertain credit risk. By providing additional payment detail, it will allow you to determine if a borrower tends to pay off revolving credit lines, such as credit cards, each month, or if the borrower tends to carry a balance from month-to-month while making minimum or other payment amounts.

Trended credit data will be visible on your credit reports by June 25, 2016. The bureaus are requiring all mortgage credit report users to get trended credit data whether they submit loans to Fannie Mae or not.

If you have questions about trended credit data and how it will impact you, Calyx is partnering with CoreLogic to offer a Q&A webinar on June 2 at 10 am. Sign-up today. In the meantime, you can learn more at CoreLogic.com.

What Can Calyx Pricer Do For You? A Lot!

Price loans in a paperless environment while providing the speed, accuracy and documentation your business demands with Pricer®.

Pricer is now available in versions for both portfolio lenders and originators to better meet your needs:

  • Portfolio lenders can manage their own rates and fees from their loan origination software
  • Originators can search for investor pricing based on product type, rate, margin, and more, to assist with calculating the profit/loss on a sale

Using Pricer is easy and seamless and eliminates multiple logins to third-party software, reduces your number of loan program templates, all while avoiding duplicate data entry. The bi-directional data flow simplifies processes, improving accuracy and efficiency. Users can find the best deals for their clients, see the street price for borrowers, and lock or float rates for their loans—all online.

Contact us at 800.362.2599 to see how Pricer can help your business’s pricing needs.
 

PathSoftware in the News

PathSoftware™, our new, highly structured, cloud-based LOS, has been in the news a lot lately….

First, Mercury Network, a vendor management platform used by more than 700 lenders and AMCs to help manage appraisal operations, announced that it is now integrated with PathSoftware. This integration will give lenders greater control over the appraisal ordering process, including securely uploading documents, sending messages to the appraiser, and canceling or requesting revisions. It will also eliminate the frustration of not knowing the status of an order because milestones are sent back to the lender automatically.

Next, we announced that Central Pacific Bank, a leading residential mortgage lender in Hawaii and the primary subsidiary of Central Pacific Financial Corporation, selected Path as their LOS. According to Kirsten Kemper, Vice President, Capital Markets Manager at Central Pacific Bank, "We looked at 12 LOSs altogether, and having the latest available technology with a flexible workflow was an important factor in our decision. Path’s clean, easy-to-use interface shows what each user needs to do their job and its reliable data entry auto-populates all screens correctly, eliminating duplicative entry in a single loan file. In addition, Path will allow us to do business online and paperless, which will not only save us time and courier costs, but also improve efficiency and productivity."

And finally, we announced that Financial Funding Solutions, Inc. (FFS), DBA 1st Mortgages, Littleton, CO, selected Path as their LOS. Anne Marie Lee, Director of Builder/Real Estate Sales & Marketing at FFS, said her company chose Path because they needed an LOS that could give their customers quick, compliant answers and grow with them at the same time. She added, "We selected Path for its user-friendly platform, multi-channel origination capabilities and structured workflows, as well as the ability to access it anywhere. We’re confident this will make us more productive and better able to serve our customers."

To see how Path can transform your business, request a demo.


In Case You Missed It…

Ben Wu, executive director of our LoanScoreCard® division, presented an informational session at the recent ABA Real Estate Lending Conference on Allowance for Loan and Lease Loss (ALLL) and the Financial Accounting Standards Board’s (FASB) proposed Current Expected Credit Loss (CECL).

ALLL calculations have traditionally been a time consuming, cumbersome process, combining complicated data analysis with outdated technologies. The FASB-proposed CECL model will fundamentally change how loan loss reserves must be calculated, shifting from an incurred-loss to an expected-loss model. However, a viable solution may be closer than you think, enabling you to not only efficiently determine ALLL on your portfolio, but also to consider the balance sheet impact of loans before they close.

Ben was also put in the hot seat in Progress in Lending’s Executive Spotlight. Check out the full interview here.

In other LoanScoreCard news, New Penn Financial has selected its Custom AUS to automate underwriting for their non-agency loans. According to Terri Merlino, Chief Credit Officer at New Penn, “Underwriting these loans manually meant that just one loan could take hours. We needed a solution that could keep up with the increased volume and demand, and free up our underwriters’ time to focus on the more complex transactions.”

For more information about how LoanScoreCard can help you give your management team insight, contact us via email or at 800.617.0892.

Don’t Get Sidetracked This Home Buying Season

Purchase originations are expected to rise, from $881 billion in 2015 to $973 billion in 2016, according to the Mortgage Bankers Association. If you’re spending countless hours trying to figure out how to set up new business rules or adjust templates, you might be missing out on new business. Get more productive with the help of our Professional Services Group (PSG). They are dedicated, knowledgeable and 100% focused on helping our customers improve their productivity. Learn more about the services we offer or schedule a PSG consultation by contacting your Account Manager at 800.362.2599.

Need off-hours support? Check out our video recordings or Knowledge Base (KB) articles to find the answers you need, whenever you need them.

Also, we’re regularly adding new webinars, like our upcoming Construction-to-Perm Loans in Point webinar.  This live webinar will show you how to enter data for automated underwriting, generate the Loan Estimate, and generate the Closing Disclosure. Scenarios will include transactions with a land purchase, a payoff of an existing lien, and land or property used as equity.

Of course, you can always reach us by phone at 800.342.2599 or email the specific department you need:

General Support Questions: calyxsupport@calyxsoftware.com
Loan Support: loansupport@calyxsoftware.com
PointCentral Technical Support: pointcentralsupport@calyxsoftware.com
Point Support: calyxsupport@calyxsoftware.com
WebCaster and INK-it Support: webcastersupport@calyxsoftware.com

#MayMotivation

Every day in May we’re posting news articles and quotes, as well as tips and updates about what’s going on here at Calyx, to help motivate you to be and do your best. But we want to hear more from you…what’s your motivation? Or, what do you need more of to motivate you to stay on track? Connect with us on social media and join the conversation!

twitter.com/CalyxSoftware
www.facebook.com/CalyxSoftware/
www.linkedin.com/company/Calyx-Software

2016 Conference Calendar

MBA's National Secondary Market Conference & Expo 2016
May 15-18, 2016 | New York Marriott Marquis | New York, NY
Attending MBA Secondary? Visit CalyxSoftware at Booth 106, LoanScoreCard at Booth 108 and PathSoftware at Booth 110 to see how our newest solutions and upcoming user conference can help your business ascend to the next level of success.

NAFCU’s 49th Annual Conference & Solutions Expo
June 14-17, 2016 | Music City Center | Nashville, TN

CalyxSoftware User Conference
October 5-8, 2016 | The Hyatt Regency | New Orleans, LA

2016 Closing Thoughts…

"The way a team plays as a whole determines its success. You may have the greatest bunch of individual stars in the world, but if they don't play together, the club won't be worth a dime."
— Babe Ruth

     
 
CalyxSoftware
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www.CalyxSoftware.com | sales@CalyxSoftware.com
Phone: +1 (800) 342-2599