Mortgage

Calyx releases TRID-ready loan origination software

PointCentral offers compliant loan estimates and closing disclosures

Calyx Software, a provider of mortgage software solutions for banks, credit unions, mortgage bankers, and wholesale and correspondent lenders and brokers, announced the release of a new version of its PointCentral loan origination software.

According to a release from Calyx, PointCentral Version 9.2 allows lenders to originate loans and deliver TRID-compliant loan estimates and closing disclosures immediately.

With integrated access to essential loan origination tools, and both new and enhanced calculation features, PointCentral 9.2 delivers additional functionality and TRID-compliant results to lenders in advance of the Oct. 3 TRID effective date, Calyx said in a release.

According to Calyx, PointCentral Version 9.2 automates the new loan estimate and closing disclosure forms and includes several new functions like simple interest calculation, down payment assistance functionality, zero percent interest calculation, principal reduction and more.

“Because we’ve been in the industry more than 25 years, Calyx has weathered many regulatory changes. Based on our experience, we understood it was imperative to have the new TRID-compliant loan estimate and closing disclosure in our customers’ hands as quickly as possible,” Doug Chang, President of Calyx said.

“That’s why we released a Point version with the new loan estimate and closing disclosure in May,” Chang added. “Although moving the TRID effective date from August 1 to October 3 was beneficial to the industry overall, our customers did not need to rely on the extension because we offered them the opportunity to prepare for TRID well in advance.”

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