Mortgage lending software company Calyx, announced today the development of separate versions of its Pricer Product and Pricing Engine.
Each of the new versions will have its own rate sheet and originator looking for investor pricing, the company said in a statement.
Both versions are designed to be used with Calyx Point, eliminating multiple logins, loan program templates and the need to rekey data.
The bidirectional data flow simplifies processes and improves accuracy and efficiency. Users can locate deals for their clients, see the street price for borrowers, and lock or float rates and their loans online.
“Having all loan products in one place, with the ability to check the loan levels for each and see any adjustments, keeps our team on track at all times,” said Bob Dougherty, vice president of mortgage operations at Merchants Bank. “Pricer has sped up productions and reduced errors, which helps our originators be more efficient and profitable.”
Loan originators can price scenarios instantly in both versions without using paper, and only eligible rate cards and programs are visible to users. Rate and fee information, including Loan Level Price Adjustments, are automatically imported into loan files.
Pricer also sends, tracks and preserves every rate quote and lock request.
“The latest enhancements to our Pricer solution are designed to better match the specific needs of both buyers and sellers in today’s more complex, post-TRID, post-QM market,” said Dennis Boggs, executive vice president of CalyxSoftware. “Our product and pricing engine gives originators the broadest view of what is available.”