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Broker Software Reaches out to Lenders By Anthony Garritano Late last year, Ellie Mae launched Encompass Banker Edition and now Calyx Software is doing the same with its Point product. This signals a shift in the industry that brokers should be aware of as it is making it easier for brokers to transition to bankers for one and also indicates that broker technology is applicable in the lender world as well. At the 2007 MBA Mortgage Technology Conference, Calyx Software previewed Point 6.0, the first Point version to include Mortgage Banking-specific functionality. Point version 6.0 is expected to be released summer 2007, with the new banking solution provided at no additional cost. With 12 new screens in version 6.0, Point can provide report and status data for all activities, from underwriting through trailing document management. This eliminates the need to use multiple systems when funding and selling loans, touted Calyx in a prepared statement. Key data will now be stored in Point with the ability to run reports on those data, allowing Point to become a system of record for small and midsize bankers. Along with the banking screens, richer reporting functionality will be available in version 6.0 with both standard and custom reports available. Specifically, Point 6.0 will offer an "Owner Snapshot" of the company. "The changes in Point are deeper than just an offering of new screens," said Dennis Boggs, SVP of Calyx Software in a prepared statement. "The changes show Point's evolution to a product that supports a more efficient way to manage both a mortgage broker operation and a mortgage banking operation." With version 6.0, the company owner has the ability to run a composite report at any time, creating a snapshot of all of the key information needed to monitor a mortgage banking business. In short, at any moment, an owner can run a report to answer the question: "Am I making money?" Included in this report is loan status, cost of doing business, and a summary of the company's book of business, with the added ability to sort by loan officer, branch, region, day, year, etc. Folder management and screen access rights allows for controlled access for sensitive financial data. Owners also have the flexibility to allow user access, administering screens for specific user needs or locking them down so that only those who needed them can access them. Mr. Boggs added, "Many of our broker customers have or are evolving into mortgage bankers, and it's our goal to continue to serve the needs of all our users. The bankers who we expect to most benefit from this release are those originators who both broker and bank their loans, and sell their funded loans on a servicing-released flow basis."

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