At the 2007 MBA Mortgage Technology Conference, Calyx Software previewed Point version 6.0, which will be the first Point version to include mortgage banking-specific functionality. Point version 6.0 is expected to be released summer 2007, Calyx officials said, with the new banking solution provided at no additional cost. With 12 new screens in version 6.0, Point can provide report and status data for all activities, from underwriting through loan sale, and trail documents management, eliminating the need to use multiple systems when funding and selling loans. Key data will now be stored in Point, and loan team members will be able to perform loan reviews to prevent errors rather than find them afterwards. In addition, with the ability to run enhanced reports on that data, and more data access control, Point can be relied upon as a system of record for small and midsize bankers, Calyz said. Along with the banking screens, updated reporting functionality will be available in version 6.0 with both standard and custom reports available. Point 6.0 will also offer a â€œsnapshot reportâ€? of the company. In short, at any moment, an owner can run a report to answer the question “am I making money?” Included in this report is loan status, cost of doing business, and a summary of the company’s “book of business,” with the added ability to sort by loan officer, branch, region, day, year, or any other metric.
â€œThe changes in Point are deeper than just an offering of new screens,â€? said Dennis Boggs, SVP of Calyx Software. â€œThe changes show Point’s evolution to a product that supports a more efficient way to manage both a mortgage broker operation and a mortgage banking operation. And it highlights many other management features that have been in Point all along.â€? Folder management and screen access rights allows for controlled access for sensitive financial data. Owners also have the flexibility to allow user access, administering screens for specific user needs or locking them down so that only those who need them can access them. â€œMany of our broker customers have become or are evolving into mortgage bankers, and it’s our goal to continue to serve the needs of all our users,” Boggs said. “The bankers who we expect to most benefit from this release are those originators who both broker and bank their loans, and sell their funded loans on a servicing-released flow basis.â€? For more information, visit http://www.calyxsoftware.com.