CalyxSoftware News
October 2016
 
 
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Thank You!A Special Message from our CEO: Thank You!
I wanted to thank all of the clients, exhibitors and sponsors who joined us in
New Orleans, LA earlier this month.
 Find Out More

Highlights from our User Conference
If you missed the user conference, let us share some of the highlights.
Find Out More

LoanScorecard Launches Pricer1
Pricer1 is a new personalized product and pricing engine for portfolio lenders and originators that is accessible from a web browser or mobile app.
Find Out More

Synchronized Data Coming
in Point 9.4, Service Pack 1

Point® Version 9.4, Service Pack 1 (SP1) is scheduled for release in late November.
Find Out More

Calyx in the News
Simplifying Technology Is Hard in the October issue of Scotsman Guide and Looking Back, and Ahead, at TRID in MReport magazine.
Find Out More

Point and PointCentral Now Integrated
with Dart Appraisal

Lenders can seamlessly order, manage and receive final delivery of nationwide residential appraisal products and documents directly from Point.
Find Out More

Meet Caliber Wholesale: Portfolio and Specialty Loan Products and Pricing for Point Users
Point now includes access to alternative products and pricing from Caliber Wholesale for all users.
Find Out More

The Answers You Need
Reach Calyx Support by phone or email.
Find Out More

PathSoftware Now Integrated with idsDoc
Streamline the ordering process through data transfer for fulfillment of loan estimates and closing disclosures.
Find Out More

We’re Hiring!
We have two great opportunities waiting for two outstanding individuals.
Find Out More

Up Next: #MBA Annual 2016
If you’re going to MBA Annual let us know.
We’d like to see you!
Find Out More

 
 
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Thank You!
A Special Message from our Founder and CEO
—Doug Chang, CEO

I wanted to thank all of our customers, exhibitors and sponsors who joined us in New Orleans,  LA earlier this month for our user conference. Thank you for partnering with us to make our first national user conference a truly spectacular event!

Our conference was also a celebration of our 25th anniversary, which inspired me to reflect on how our company and industry have changed over the past 25 years. So, if you’ll indulge me, I’d like to take a brief walk down memory lane…

When we introduced Point in 1991, it was one of a handful of LOSs in the market. It quickly became the industry’s most adopted solution because it was developed for efficiency and ease-of-use, which helped minimize the risk of errors. This was and still is accomplished through elegant, sophisticated, and highly-detailed programming.

Much has changed over the past 25 years, not just in terms of the ebbs and flows of the mortgage business or the recent swell of regulations, but also in the technology itself. What really drove this point home was when Ben Wu, our Executive Director of Technology, stood up at our conference and held the original master disk for Point 1.0 (which, according to Ben, was “a 3.5-inch floppy disk that was anything but floppy”).  Ben compared the disk, which held 1MB of data, to his iPhone, a handheld computer with a data capacity of 128GB. Wow, times have truly changed!

Keeping abreast of technology is one of the reasons why we’re still here today. Even more important than our focus on technology is discerning the technological performance needs of our customers. One of this year’s hot new business books, Competing Against Luck: The Story of Innovation and Customer Choice, by Clayton Christensen, postulates that the key to innovation is understanding the “job” your customers are hiring your product or technology to solve. For the past 25 years, we have studied our customers’ needs to understand the job, while we produced solutions in an ever-changing environment.

Finally, thank you all for helping us grow and evolve over the past 25 years!

Sincerely,

Doug Chang
CEO

     

Highlights from our User Conference

Highlights from our User Conference If you missed the user conference, let us share some of the highlights:

  • More than 20 educational sessions included everything from HMDA, TRID and the new loan application, to CoreLogic chief economist Dr. Frank Nothaft, who presented about the state of the housing market, to remaining relevant in a Fintech world.
  • Pricer1™ (more details below) and our product roadmaps for Point®, Path® and LoanScorecard® for the next few years were unveiled.
  • Shark Tank’s Barbara Corcoran shared inspiring words of wisdom, including, “What stops people from succeeding is the voice inside themselves,” and “Fun is good for business…because it’s not possible to have a creative company, an innovative company, without fun.” (We agree, Barbara!)
  • Yahoo! Tech columnist David Pogue discussed disruptive technology and how our sharing economy is changing the way the world works. He highlighted the fact that people less than 25 years old don’t use email. He added, “Change is scary…and yet somehow we muddle through. We weed through technology and pick the ones that are worth it.” (Thank you for continuing to think we’re worth it.)
  • An amazing welcome party with fabulous entertainers, a great band and Cajun culinary delights.
  • And finally, our Masquerade Gala celebrating our 25th anniversary in business.

Planning for our next user conference is underway.
Stay tuned for more details…!

LoanScorecard Launches Pricer1

LoanScorecard, a subsidiary of CalyxSoftware and leading provider of automated underwriting and compliance solutions, recently launched Pricer1.  Pricer1 is a new personalized product and pricing engine for portfolio lenders and originators that is accessible from a web browser or mobile app.

Pricer1 is used by portfolio lenders to instantly distribute their own rates and fees, as well as other investor pricing, to referral partners, third-party originators and builders via a custom-branded website and mobile app. Both the lender and the originator have the ability to add their branding to the app and website . This allows for personalizing of the presentation for their respective originators and customers.

Originators who use Pricer1 have access to a personalized dashboard of live rates. They can search based on borrower profile, product type, best execution, rate, margin, and more to provide eligible products and pricing options to potential borrowers in the office or on the go. Additionally, users can create and save preconfigured scenarios and borrower contact information to save time.

Pricer1 app users are able to track and preserve every rate quote and lock request, as well as send lock requests directly from their mobile devices.

Pricer1 is integrated with PointCentral and Path and may be accessed via any web browser. It is currently available for download from the Google Play Store for Android devices and will soon be available in the Apple App Store for iOS devices.

The best part is that Pricer1 is free to Pricer customers who use PointCentral or Path.

Calyx in the News

Doug Chang, our founder and CEO, authored Simplifying Technology Is Hard in the October issue of Scotsman Guide, an article about why the next generation of mortgage technology needs to be more user-friendly.

In addition, Bob Dougherty, our Vice President of Business Development, shares his thoughts about TRID in the article, Looking Back, and Ahead, at TRID in MReport magazine.

You Asked, We Answered – Synchronized Data Coming in Point 9.4, Service Pack 1

Point® Version 9.4, Service Pack 1 (SP1) is scheduled for release in late November. One of the key new features of this release is the synchronization of data between the Loan Application, Borrower Information screen, and Fees Worksheet. To accommodate the data synchronization, we are adding a hard-coded Homeowners’ Assoc. Dues field to both the Fees Worksheet and Closing Costs Worksheet, eliminating the need to manually enter HOA dues in one of the user-defined fields.

Loans with the Loan Estimate already disclosed when SP1 is installed will have a discrepancy between the Loan Estimate and Closing Disclosure if a user-defined HOA fee name entered prior to installing SP1 differs from the hard-coded fee name in SP1.

To avoid problems with inconsistent fee names after you install Point Version 9.4 SP1, we recommend that you proactively apply the hard-coded HOA field name to your loans starting now.

To ensure consistent HOA fee naming after SP1 is installed, apply the following fee name, exactly as shown including the punctuation and abbreviation, as your user-defined HOA fee name before disclosing the Loan Estimate:

Homeowners’ Assoc. Dues

If you do not apply the fee name exactly or you anticipate an inconsistency between the Loan Estimate and Closing Disclosure, options to remedy the inconsistency after-the-fact could require that you postpone installing SP1 or redisclose the Loan Estimate. Refer to CFPB Clerical error rule 1026.19 (f) (2)( iV) for more information.

The Answers You Need

You can 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

 

 

Point and PointCentral Now Integrated
with Dart Appraisal

We are pleased to announce Point is now integrated with Dart Appraisal, an independently-owned national appraisal management company (AMC). Lenders can seamlessly order, manage and receive final delivery of nationwide residential appraisal products and documents directly from Point. This integration provides our clients technology that simplifies the mortgage origination process to increase efficiency.

“Dart Appraisal is constantly striving to make the appraisal process as efficient as possible for our lender clients,” said Michael Dresden, President of Dart Appraisal. "As a truly national AMC, licensed and compliant in every available state, lenders selecting our services through Calyx can be assured that they are choosing the most compliant, streamlined and experienced path for appraisal management. We look forward to providing Calyx’s lending clients with our brand of outstanding customer service combined with the highest level of quality and compliance in the appraisal industry.”

To access Dart Appraisal from Point, select Appraisals from the Interfaces menu, select Dart Appraisal, and click Launch Dart Appraisal.

Meet Caliber Wholesale: Portfolio and Specialty Loan Products and Pricing for Point Users

Point now includes access to alternative products and pricing from Caliber Wholesale for all users. As one of the nation’s leading wholesale lenders, Caliber Wholesale provides a comprehensive array of conventional, government, and portfolio loans.

Caliber’s Portfolio Lending Program product suite includes features such as reduced or no seasoning for bankruptcy, foreclosure, short sale/deed in lieu and late payment histories. Other portfolio loan features include loans for foreign nationals, 580 FICO scores, jumbo financing to $2.5 million, and 100% gift fund allowances.

To access Caliber’s offerings from Point, select Product and Pricing from the Interfaces menu, select Caliber Wholesale, and click Launch Caliber Wholesale.

PathSoftware Now Integrated with idsDoc

We are pleased to announce PathSoftware, our new highly-structured, cloud-based LOS, is now integrated with idsDoc, the flagship solution from mortgage document preparation vendor International Document Services, Inc. (IDS). This integration offers a seamless interface which streamlines the ordering process through data transfer for fulfillment of loan estimates and closing disclosures with idsDoc.
 
“At IDS, we’re committed to making our document solution as easy as possible for our customers,” said Mark Mackey, Executive Vice President at IDS. “That’s why we’re proud to partner with a like-minded LOS, such as Path, to ensure our customers have a seamless, efficient and productive experience.”

PathSoftware is the industry’s first completely data-driven, not form-driven, LOS. Data-driven means users enter all borrower and property information one time in logical data fields (rather than across multiple forms) and the software uses this data to populate the forms. This design also makes adapting and complying with new forms virtually effortless for the user. For example, when a new form is required, such as the upcoming Uniform Residential Loan Application (Freddie Mac Form 65 or Fannie Mae Form 1003), the Path design team simply adds the new fields and maps them to the correct location on the new form.

Up Next: #MBA Annual 2016

If you’re going to MBA Annual (October 23-26, 2016 @ the Hynes Convention Center in Boston, MA), let us know. We’d like to see you!

 

To schedule a meeting to discuss how we can better help your business, email meetings@calyxsoftware.com.

Or visit us any time in THE HUB:
CalyxSoftware @ Booth 1713
LoanScorecard @ Booth 1715
PathSoftware @ Booth 1709

You can also stay connected with us live on social media…

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

See you in Boston!

We’re Hiring!

We have two great opportunities waiting for two outstanding individuals.

  • Communications Specialist: act as a conduit between customers and internal functional departments.
    •  
  • Professional Services Consultant:  assist banks, credit unions, brokers, correspondent lenders and other financial institutions with their Calyx systems and internal consumer mortgage loans and lending processes.
Find more information, including responsibilities, qualifications, skills and benefits on our careers page.

Closing Thoughts…

“The best way to predict the future is to invent it.”
— Alan Kay

     
 
CalyxSoftware
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3500 Maple Ave, Suite 500, Dallas, TX 75219
www.CalyxSoftware.com | sales@CalyxSoftware.com
Phone: +1 (800) 342-2599