Dallas-based Calyx Software released the updated version of its mortgage software platform, with upgrades to help lenders meet new government guidelines. Point 7.1 addresses two new federal requirements to keep lenders in compliance with truth-in-lending requirements, as well as new state requirements stemming from the Secure and Fair Enforcement (SAFE) act. “The 7.1 upgrade is necessary primarily because of the latest federal requirements but the bonus forms and improved functionality really contribute to its appeal,” said Doug Chang, president of Calyx Software, in a statement. “We always look for ways to provide Calyx customers with affordable tools that will keep them productive and compliant,” he added. Write to Austin Kilgore.
Most Popular Articles
While the real estate market has lots of challenges during the COVID-19 pandemic, a tsunami of houses being sold by Airbnb hosts who can’t pay their mortgages isn’t one of them. HW+ Premium Content
Mortgage servicers are getting the short end of the stick under the CARES Act. Unlike the decade-old financial crisis, it cannot be argued that the mortgage industry created the problem underlying the need for borrower relief. Rather, Congress unilaterally altered the original mortgage loan terms without requiring a borrower to demonstrate that the borrower needs the relief.