According to a 2010 study conducted by Access Mortgage Research & Consulting, 72.5% of mortgage brokers reported using Calyx Point as their preferred loan origination platform. A market leader for mortgage lenders as well, Calyx proudly supports 36% of community banks, credit unions, and mortgage bankers with Point and PointCentral products.
Calyx Software®, the preferred mortgage solution provider for banks, credit unions, mortgage bankers and brokers, and Loan-Score Decisioning Systems, an enterprise-class pricing and automated underwriting provider, announced that the two companies have integrated their respective loan origination system (LOS) and automated underwriting system (AUS) to offer users access to automated pricing and underwriting for each investor as well as FHA eligibility decisions. The new functionality was released to all Calyx® Point® customers earlier this month.
The integration embeds Loan-Score’s product and pricing engine (PPE) as well as its AUS within Point’s user interface. Without ever leaving Point, customers can interact with Loan-Score, which then decisions off of all relevant fields in the 1003 and a tri-merged credit report. With the click of a button, Loan-Score’s rules engine returns accurate pricing and an automated underwriting pre-approval that effectively simulates a human underwriter’s decision. Users have real-time visibility of underwriting conditions and loan status in a centralized area within Point.
In addition, users can also utilize Loan-Score’s AUS to access FHA TOTAL Scorecard via Web services while in Point. If the user submits a loan to the AUS and it is determined to be eligible for insurability by the FHA, a Loan-Score generated FHA certification is returned, which can then be sold to investors. The cost savings using Loan-Score’s connectivity to Scorecard is significant.
“Our integration with Calyx is one of the most strategic initiatives we’ve taken to capture market share,” says David Colwell, executive vice president of Loan-Score. “Embedding our Web-based application in Point provides Calyx users access to our comprehensive decisioning platform. We are the only non-agency AUS option in Point; the rest of the decisioning vendors are PPEs. We feel that this relationship has enormous growth potential for Loan-Score.”
Notable is that Calyx has recently positioned itself to aggressively pursue more mortgage bankers than they have previously focused on. Because Loan-Score’s primary focus is mortgage banks, the integrated solution strengthens the ability of both companies to continue picking up substantial market share in the mortgage banker arena.
“We’re elated to work with Loan-Score to offer our customers what we believe to be one of the leading SaaS-based decisioning capabilities in the industry,” said Dennis Boggs, senior vice president, business development at Calyx. “The expected cost savings Loan-Score can deliver to our customers, among other efficiencies, is very compelling. Loan-Score’s AUS alone, along with its interface to FHA TOTAL Scorecard, are two major differentiators from their competitors, which made the value of this integration clear-cut. We spent ample time performing our market research and this integration makes a great deal of business sense.”
Calyx and Loan-Score will be offering demonstrations of the integration at the Mortgage Banking Association of America’s 97th Annual Convention and Exposition at the Georgia World Congress Center in Atlanta, GA, October 24 – 26. Contact the companies to arrange a demo time at firstname.lastname@example.org or 800-362-2599 or email@example.com.
About Calyx Software
Calyx Software, the #1 provider of mortgage solutions for banks, credit unions, mortgage bankers and brokers, is dedicated to offering reliable and affordable software that streamlines, integrates and optimizes all phases of the loan process. PointCentral is our flexible platform utilizing the full functionality of Point combined with remote access and a strong business rules engine needed for workflow and compliance. Point, the leading LOS, simplifies loan processing and enables seamless integration with online applications using WebCaster, back office systems using Point SDK and with over 200 service providers within the Calyx Network. For more information, call (800) 362-2599 or visit www.calyxsoftware.com.
Founded in 2000 and headquartered in Irvine, California, Loan-Score Decisioning Systems offers clients a full suite of decisioning solutions to satisfy their individual needs from small, medium and large production and servicing organizations. The modular suite includes a product & pricing engine (PPE), automated underwriting system (AUS), portfolio analysis engine (PAE), channel focused point-of-sale (POS) Web portals, a system-to-system integration bridge and more. Loan-Score maintains a comprehensive, up-to-date library of investor guidelines and pricing to ensure eligibility is met and market conditions are adjusted to deliver precision-based underwriting that results in fundable and saleable loans. Our solutions are engineered to deliver swift, cost-effective implementations that integrate with existing LOSs. Clients can choose between software-as-a-service (SaaS) and self-hosted technology models. For more information, visit www.loan-score.com or call 949-450-0102.