January 13, 2014
As compliance and regulatory requirements top everyone’s 2014 list of action items, Calyx has released Point® 9.0 SP2 to help your company work smarter and more efficiently. Our new Point 9.0 SP2 is now available to your MyCalyx Administrator. Point 9.0 SP2 highlights include:
- Added a Homeownership Counseling Disclosure feature to help you comply with new HOEPA rules for Disclosure and Management of Home Ownership Counseling
- Updated the following forms: 4506, 4506 T, W-9 and added the Social Security Number Verification screen used to complete the SSA-89 form
- Added the QM Finding and the QM Date and Time fields to the Borrower Information screen
- Changed the MI Factor field label on the Banker > Fees & Impounds screen to PMI/MIP/VA/USDA
Point 9.0 SP2 offers more features, functionality and updates to screens, forms and calculations to help you process loans quicker and more accurately while staying compliant (see release notes).
If you have questions please call our Customer Suppo
rt Group at 800.342.2599 Monday-Friday 8:00 a.m. to 6:00 p.m. CST or email firstname.lastname@example.org.
December 4, 2013
Calyx Software has over 200 vendors available in Point. Today we announce the addition of two new vendors – AVANTUS IRS Direct and RexHub-Real Estate Exchange Hub.
AVANTUS IRS Direct offers IRS transcripts with e-signature capability which automates the entire 4506-T process directly from Point. AVANTUS IRS Direct allows you to verify up to four years of previous income and receive your tax transcripts in 24 to 48 hours. They can be located in Point at Services > Verifications > AVANTUS IRS Direct.
RexHub-Real Estate Exchange Hub is a software solutions provider for real estate appraisal management. RexHub-Real Estate Exchange Hub was created by compiling feedback from industry players to determine what the industry desired and needed. They can be located in Point at Interfaces > Appraisals > RexHub Real Estate Exchange Web.
Take a moment to explore the newest vendors in Point!
October 3, 2013
Moving forward with Qualified Mortgage (QM) compliance preparation, Calyx is getting you ready for 2014 with screen and calculation updates required for QM compliance.
• “Comparable Par Rate” field has been added to the Fees Worksheet
• “Affiliate” has been added as an option to the “Paid to” dropdown list
Additional updates to screens and calculations have been included in this service pack to make processing loans more efficient and accurate.
• Fees Worksheet
• Good Faith Estimate
• Loan Application
• HUD 1
If you have questions please call our Customer Support Group at 800-342-2599 Monday – Friday 8am – 6pm or email email@example.com.
August 8, 2013
We’re excited about this latest release and we’re sure you will be too. With 9.0, we’re making it easy to comply with the Consumer Finance Protection Bureau’s QM rule that goes into effect on January 10.
Now is the time to learn how your company is doing so you don’t find out at the last minute that your loans are not going to qualify.
At the bottom of your Point screens, you’ll find a QM button that provides findings that detail how the loan file complies with QM requirements based on current available data.
The findings report not only determines whether a file is considered a QM, it also provides pass/fail assessments on the individual QM requirements as well as a detailed analysis and relevant messaging.
You can run a QM findings report multiple times and each report is saved separately in Point’s document management system—perfect for auditing purposes. You won’t find a QM solution like this anywhere else!
Here are just a few more of the highlights you’ll find in Point 9.0
- Visual enhancements to the Anti-Disclosure screen and Self-Employed Income Analysis give you symmetry with the printed versions
- NMLS License Number fields have been reconfigured to support unique identifier methods using both alpha and numeric characters
- Multiple down payment fields enable comprehensive tracking of payment sources
- Multiple calculation improvements to several screens provide consistency and accuracy throughout the platform
For a complete list of updates and enhancements, see the release notes found on our What’s New page. While you’re there, check out the sample QM findings report!
Need to update your account? Call your account manager today at 800-362-2599 to get Point 9.0!
August 6, 2013
Point 9.0 is being released in just two days! MyCalyx admins can push 9.0 to users when it becomes available on August 8.
We’ve stepped up to the plate for CFPB’s QM compliance for you. With 9.0. you can learn in seconds whether your loan is considered QM or not—and why. It’s not rocket science with Point’s exclusive QM button.
The QM button renders a findings report based on available data and gives you the information you need to proceed with each loan. You won’t find this functionality anywhere else.
Point 9.0 is also packed with other updates to screens and calculations. Call your account manager at 800-362-2599 to make sure you’re current and look for 9.0 soon!
July 23, 2013
Point 9.0 is scheduled to be released in just a few short weeks. We’ve got CFBP compliance wrapped up in this release. Consider it our gift to you (if you’re current, that is).
QM compliance is the talk of the year—and for good reason—it goes into effect on January 10, 2014. If you’ve been worried about how you’re going to keep up with all the rules and requirements, you can relax and count on Calyx.
Point 9.0 includes a QM button. It’s similar to the “Easy” button for Staples, except that it’s real and will absolutely make your life so much easier.
The QM button delivers a QM findings report in seconds based on the data pulled from within your Point file. It has a determination along with assessments per requirement, detailed analysis and relevant messaging. Each report is saved in the document management system so it’s always there for auditing purposes.
This release is packed with many other updates so you don’t want to miss out. Call 800-362-2599 to make sure your account is current before 9.0 is released!
July 16, 2013
The CFPB issued its final ruling on the Ability to Repay/Qualified Mortgage rule at the end of May. While the rule has been amended to address some concerns, a lot of questions still remain. One thing hasn’t changed, however, and that’s the effective date of January 10th, 2014.
If you haven’t kept up with the regulatory changes, you can see the final rule for details or read the latest press release. The Ability-to-Repay rule established basic requirements that protect consumers from taking on loans they cannot afford. Lenders comply with the Ability-to-Repay rule by ensuring that each loan is a “Qualified Mortgage” (QM) which meets the particular requirements specified by the CFPB.
That means you have to know all the parameters and evaluate each of your loans to determine whether they meet the QM standards…or do you?
When Point 9.0 is released in just a few short weeks, you’ll be able to see just what Calyx is doing to help you with QM compliance. We’re ready for 2014 and we’re going to make sure you’re ready, too.
Keep following us here to learn more details about Point 9.0’s solution to QM compliance.
You’ll need to make sure your account is current to 9.0 when it launches in August. Call your account manager today at 800-362-2599 so that you don’t’ miss this stand-out release.