Processing an increasing number of mortgage loans accurately is your ultimate goal. Providing you with the tools you need is our goal. That's why we developed Point 7.2.

Point 7.2 platform offers all of the functionality and features that brokers, bankers and credit unions appreciate—a simple, flexible system with significant new extras that will keep you productive as well as compliant with the latest Federal regulations.

With new Federal compliance requirements going into effect as early as January 1, 2010, this is one release you can't afford to miss. Questions about RESPA? Click here for their website and an overview of the 2010 regulations.

Want to know more? View the complete Calyx Point 7.2 release notes.

Compliance Requirements

GFE Provider List: An add-on to HUD's final rule of the revised RESPA Rules that requires loan originators to provide a new standardized Good Faith Estimate (GFE) starting January 1, 2010, also requires mortgage companies to list service providers on a separate form attached to the GFE. This add-on has been addressed with the addition of fields within the GFE forms and the ability to print the additional form on a single page.
Transmittal Summary (1008): Fannie Mae has updated this form, effective January 1, 2010, to include new project classification codes for Refi Plus™ loans secured by properties that are located in condominium, PUD, or cooperative projects and for projects approved through the Project Eligibility Review Service (PERS). The new form includes the codes V Refi Plus, T PUD, and T Co-op.
Loan Application (1003): In Announcement 09-11: New Data Delivery Requirements, Fannie Mae published changes to the Uniform Residential Loan Application (Form 1003) to accommodate new data elements required by the Federal Housing Finance Agency (FHFA). Fannie Mae is updating the Form 1003 to support the new loan-level data elements required by the S.A.F.E. Act. The new form, which must be used for all applications taken on or after July 1, 2010, will contain extra fields at the bottom of Page 4 to capture the Loan Originator ID and Loan Origination Company ID.

Banker Upgrades

Fees & Impounds screen: This new screen allows for a closer/funder to keep track of the final fees and final wire calculation prior to the ordering of closing documents. The screen data will map to the DirectConnect closing documents interface. New Utilities options, including Fee Types and Impound Types, have been added.
Warehouse & Purchase Advice: Formerly named "Warehouse Advance & Repayment" screen this screen is now more robust with additional fields and a new Utilities option that allows users to set up Warehouse Lenders.
Shipping: With additional data entry fields, this screen has been greatly improved to facilitate shipping data entry and reporting. A new Utilities option allows users to setup their Investors' addresses for tracking loan servicing and shipment.
Trailing Documents: This screen has also been enhanced with additional fields and the ability to make the data reportable using additional Point report templates. Users can customize the Trailing Documents list in the Utilities menu.
Product & Pricing Interface:
Additional supported fields to the MISMO Closing v2.4 data format, including an extension section to accommodate fields not already in Closing v2.4.
Additional data mapping to allow vendors to write data back to Point using Closing v2.4.
Vendors now have the ability to add a new loan file to Point from the vendor website.

Other Enhancements

Document Storage Improvements: This upgraded feature gives users the ability to add a large document with multiple pages, and then extract specific pages and tag those pages as a separate document.
Co-Borrower Synchronization: Automatic synchronization of modified data throughout borrower and co-borrower files makes Point even easier to use.
Closing Documents Interface Improvements: The improvements to Closing Documents include a tighter integration between ClassicConnect and DirectConect for a document provider's custom data. Additionally, more MISMO supported fields have been added to Point with support for Audit transactions.