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Product and Pricing Through Calyx By Anthony Garritano In today's market loan products are changing so drastically in a short amount of time it's hard to keep up. And while Calyx Point remains a market leader in terms of market share Point's core competency is not offering its clients product and pricing functionality. As a result the company has integrated with several leading product and pricing vendors including eStyle Software. eStyle Mortgage Software and Services launched its LoanFinder tool in 2004. LoanFinder is a service capable of providing real-time rates from any lender that match a specific borrower profile after performing all adjustments and limits. The application brings in all rate determination guidelines from lenders together in one actionable, up-to-date database. "In terms of this partnership with Calyx and other still in the works, I wanted to go after strategic alliances with LOS and other core systems," explained Michael DiDonato, director- business development at eStyle. "Point wanted to integrate to a pricing engine and we were one of the first three to make the cut. We have an alliance with Mortgage Dashboard and we're close with TrueClose, so partnering with Calyx made good sense given their market share. We designed an open platform to enable other providers to use our pricing system in their software or website. "We actually have a Web interface displayed within Calyx. The user has a streamlined experience via this interface because the data is seamlessly transmitted from the 1003 in Calyx to another window with the automated underwriting results. The other benefit is that the user can drill down the findings and update the 1003 data to adjust the findings, get an updated decision and save it as a locked loan. This contributes to less stipulations and faster closing for the broker." Mr. DiDonato believes eStyle is "a robust search platform that covers both prime and subprime loans. Second, we can sort and prequalify the borrower within seconds. Third, we completely reproduce underwriting logic so that the broker gets the same experience as if they were using the investor's AU in terms of both rates and eligibility. We also look at over 60 criteria when determining decisioning and pricing. We also provide best-case and worst-case scenarios if the broker hasn't provided enough data. "We can customize to the user's needs because we have an open platform," he concluded. "This allows us to go beyond product and pricing. We want to provide a platform that can be used by a variety of parties to prequalify a loan. We'll go to brokers and lenders and others like credit companies, etc. That's our value proposition."

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