Calyx Network Sees More Than 13 Million Transactions Processed
By James Comtois
A San Jose, Calif.-based provider of loan marketing, origination and processing
software for the mortgage industry said at the MBA annual in Boston last month that its electronic communications
network saw a record number of network transactions so far this year.
Calyx Software reported 13.4 million business transactions were processed on more than 10 million loan files over
The Calyx Network during the first nine months of 2007.
The Calyx Network enables mortgage professionals to electronically request services from a wide range of service
providers, including appraisers, credit reporting, flood certification, title and escrow service companies and
automatically process and attach supporting data and documents to electronic loan files within Point, reducing
data entry and loan processing cycles.
Additionally, the Calyx Network provides electronic connections to lenders for pricing, approving, locking and
closing loans. Between January and September of this year, more than 310,000 desktops from more than 44,000 mortgage
companies participated on the Calyx Network.
According to the company, the transactions stemmed from more than 23 million exchanges between users of Calyx's
Point loan origination system and the more than 300 participating lenders and service providers.
"Originating a loan is not a simple, one-party process. Our clients look to us to not only automate their
internal processes, but also to streamline their external processes with loan service providers and lenders,"
said Dennis Boggs, senior vice president at Calyx Software in a statement.
The Calyx Network provides a secure and reliable communications gateway between participating parties. Lenders
connecting to The Calyx Network benefit from improved quality control, easier exchange of data with originators
and a streamlined method for ensuring originators possess updated information on their company's products.
"The number of Calyx Network participants and transactions continues to grow dramatically, creating greater
and greater efficiencies for all parties involved in the origination," Mr. Boggs added.
New service providers and lenders are updated to The Calyx Network on a bimonthly basis. New lenders joining the
network typically require less than three weeks to integrate with the platform.
Separately, Calyx Software recently added a product and pricing engine category to the Calyx Network, connecting
users of its Point LOS to participating product and pricing engine vendors. The new category is accessed within
Calyx Point's interfaces menu and includes six new companies offering PPE services.
The product and pricing engine category allows mortgage brokers and bankers to request a product and pricing decision
from their preferred lenders and investors without leaving the loan file in Point. By directly accessing borrower
credit information and utilizing the credit analysis tools provided by PPE vendors within the Calyx Network, brokers
are able to review multiple credit scenarios to accurately determine a borrower's eligibility. The pricing information
then allows brokers to decide the best product to offer a borrower.
The new category currently includes six companies specializing in product and pricing engines: Fort Lauderdale,
Fla.-based Broker Buddy; New York-based eStyle Software; Atlanta-based Lender Flex; Little Chute, Wis.-based Loan
Sifter; Mount Arlington, N.J.-based NYLX; and Plano, Texas-based Optimal Blue.
