March 31, 2010
Have you ever wondered how you have accumulated so many things over the course of your life? And have you wished you had the energy to rid your house of all the clutter, all of the old papers you no longer need or want? I’ve always envied those who spend weeks planning garage sales, then take several days off from work to sit in their yard and sell everything that takes up space. I just don’t have it in me—so the clutter remains—more often than not relegated to the room in the house nobody is allowed to see.
If you have a room like that in your house, I can certainly sympathize. If that room is in your business, then you’ve definitely got to de-clutter. To streamline your workflow and eliminate the stacks of papers in your office, you will want to do a little research into going electronic.
There are plenty of software technology companies that specialize in mortgage technology. However, we are preferred by more brokers and bankers than any other platform. Why? We offer all of the tools needed to originate and process mortgage loans—and at the most affordable price. All of the forms and reports you need to manage your business are included—and you can store all of your documentation electronically.
If you have multiple offices, or have employees that work remotely, you’ll appreciate PointCentral, Calyx’s hosted offering that allows access to all loan data in your pipeline from any secured Internet connection. It also provides a central repository of all information and images as well as the ability to apply field-level rules and conditions.
With remarkable technology, support and training, we’ll keep you from swimming in unnecessary paperwork. So you can do your spring cleaning at home, not in your office.
March 8, 2010
We are honored that one of our valued customers, HomeBanc N.A., in Tampa, FL, has graciously submitted an official testimonial for us to share with you.
As a consumer, I realize that it’s much easier and satisfying to let a company know what it’s doing wrong and hope that improvements are made. As a company, Calyx truly appreciates all feedback, whether positive or negative, and we strive to respond quickly to customer issues.
When a customer feels strongly about their positive feelings for our company and/or our products, and is willing to spend some time expressing those feelings, we feel privileged and we are heartened to see that we are doing something right.
As you can see from HomeBanc’s case study, found here, they’ve come a long way in growth and community standing. They, too, are doing something right. We’re proud to be their vendor of choice and hope we can help them continue on their path to success.
Thanks to Amy Jones at Homebanc for her time and her kind words.
March 4, 2010
…to get hung up by credit reports. There’s the hard way—and then there’s the Point way. Running credit reports in Point couldn’t be simpler. You never have to leave Point and all information associated with your request and subsequent report data are stored with your borrower information. And here’s the kicker: Point will even auto-populate your borrower’s liability section!
To get to credit services in Point, go to Services>Credit Reports>Request Credit. You have the option to select from a multitude of credit agencies for one or more of the established credit bureaus. Start with one to prequalify your clients and then request the rest to continue the process.
Save money and time with credit through Point. It’s just that easy!
If you have questions about pulling credit through Point, call 800-952-9609 or check out the video demo here.
January 27, 2010
You were all excited from Monday’s post about creating your own marketing campaign, but then you thought ”Wouldn’t it be nice if my logo appears on all of my marketing materials?” Our developers thought that would be a good idea, too, so they made it possible! And today I’ll tell you how.
- The first step to inserting your company logo on Marketing forms is to tell Point the folder where your Company logo is located on your computer. To import the logo, open Point, click Utilities, select Company Defaults > Marketing Letterhead.
- Click Browse to find the company logo you want to appear at the top of your marketing documents (Point accepts .bmp, .jpg, and .gif files). To automatically adjust the graphic, click the “Auto Fit” check box. You can also adjust the location and size of the image by entering different numbers in the move right/down fields and increasing or decreasing the percentage in the zoom field.
- The company logo you select is unique to each data folder in Point, giving you the ability to have a different logo for each data folder. Your company logo will appear on all marketing printouts from screens located in the Marketing menu in every Point file.
See how easy that is? You are welcome to view the Tip Sheet on Company Logos on our website to see screenshots along with detailed step-by-step instructions. Click here to see this and all available tip sheets. More tips and ideas coming soon, so stay tuned!
January 22, 2010
The new GFE has generated countless questions and more confusion than even we could expect. If you haven’t already seen it, the Niche Report published an article by Joshua Weinberg that really helps walk you through the process and explains it in clear detail. You can find the article here.
But if you would prefer to step through the process in Point specifically, I’m about to make your day. This is all about the YSP and how you report it in your software so that it appears in the correct spot in the borrower’s file.
Yield Spread Premium (YSP) will ONLY be considered as a credit to the borrower. All compensation to the Originator expects to receive must be clearly indicated up front, and may not change. This means that Originators are required to enter any and all amounts they desire to be compensated with on line item 801: Loan Origination Fee on the Initial Fees Worksheet.
- Go to the Initial Fees Worksheet.
- In the Compensation to Broker section, enter the YSP.
**You must enter YSP here so that it will transfer to the GFE 2010 as a credit.
- Scroll down to the 1300: Additional Settlement Costs section.
- Enter the YSP into any of the user defined fields as a negative number. (For example: -2000)
**You must enter the YSP again into this section so that the YSP is applied as a credit on Loan Application Pg. 4 to be included in “Cash to Close.”
- Go to the Good Faith Estimate 2010.
- Check the box, Borrower receives a credit of…
**Checking the box applies the YSP as a credit on the GFE 2010
That’s it! If you would like to see screen shots illustrating these steps, go to article # 0678 in our Knowledge Base.
January 21, 2010
There are a very few instances in the business world where spending more actually helps you increase your profits. Marketing your business is one of those instances. Running through the country yelling “CHARGE!” — is not. If you are running your own business, cutting back—reducing unwise spending—can help you get to where you want to be.
Recently the Mortgage Brokers Association (MBA) published a study that shows that the profit margin for independent mortgage bankers and affiliates narrowed at the end of last quarter. An increase in overall origination costs is one of the factors MBA points out to explain the decline. As mortgage bankers seek to compensate for rising costs and stricter regulations, evaluating current systems for efficiency is a natural first step.
If your loan origination and processing system is not the most efficient and affordable platform suitable for your business, then perhaps a cost analysis is in order. You may need a new platform. If you aren’t already using Calyx Software, be assured that Calyx can provide an edge to your bottom line profitability with affordability and simplicity. You don’t have to worry about transition down-time because the software is easy to learn and easy to use. It’s complicated on our side, not yours.
Calyx Software also makes sure that your next audit will be a positive one, with targeted software updates that keep you in complete compliance with federal regulations as they change.
Now is not the time to idly ride the mortgage roller coaster. It’s the time for action—the action you need to survive—and to profit in 2010.
If you’re not currently a customer or if your subscription has expired, call 800-362-2599 now to see how we can help.
January 13, 2010
If you have questions about your Calyx software or require technical support, we offer several avenues to get the solution you need. You can choose the one that is most convenient and suits your learning style best.
- If you would prefer to speak to someone on that phone that can walk you through your issues, you can call our support line toll free at 800-342-2599. Our phones are staffed Monday through Friday from 7am to 7pm Central time for Point. All other live product support is available from 8am to 6pm
- If you are proficient in typing and multi-tasking, perhaps our On-line Chat is better for you. You can chat real-time with our support staff Monday through Friday from 7am to 7pm Central time for Point and 8am to 6pm for all other products. To start, click here.
- If it’s after hours or web surfing is more your thing, we have an abundance of step-by-step instructions and work-arounds listed on our Knowledge Base at www.calyxsupport.com. Just click on Knowledge Base and search for your subject.
- You can also send an email to email@example.com and someone will follow up with you as soon as possible during our normal business hours.
- We also offer free weekly webinars that can help you with our most popular subjects. If you are interested in attending one of these webinars, click here to see what’s coming up next.
- You may also see some of your questions answered here on this blog You are welcome to search on your subject to see if we’ve already discussed it and you can always make comments if there is something else you’d like to see in our postings.
We’re proud to have so many satisfied customers. Offering you multiple sources for assistance is just one way we can provide exceptional care for our loyal customers. Let us know how we’re doing!
January 6, 2010
It’s hard to believe that it’s 2010! A new year and a new decade! Most of you are probably most concerned right now with compliance and the new GFE. Our Customer Support Lines are reaching record highs right now and we’re selling out of GFE 2010 classes faster than we can schedule them. If you’re not one to wait on the phone or take a class there’s also GFE info on our support web site.
Once you’ve got the GFE issue settled down, it’s imperative that you have a plan to market yourself. The number of loans you will close in two or three months from now is dependent upon the marketing you do today. Be sure to take the time to think about what tactics will ensure that you have an adequate loan pipeline as well as a consistent flow of referrals through out 2010.
Here are some things to consider:
Use the power of the internet – more and more business is conducted due to information that’s found on the net. Do you have a website? Having one allows you to be open for business 24-7. If you have one, is your site info up-to-date? If you don’t have one, check out WebCaster as an affordable option.
Social Media has totally taken off, but you don’t have to be an expert to use it – and it’s free! Set-up a Twitter and/or a Facebook account. Twitter is searched almost as much as google now. Can you afford not to have messages about your business where your audience is searching?
How are your referral relationships going? Maybe it’s time to add some new contacts to your mix – additional realtors, appraisers, title agents, landscapers or remodeling contractors…the potential referral list goes on and on.
And last but not least, make sure you stay in contact with your current customer list – you never know when one of them might need your services again or know someone who does! We’ll have a blog post soon about how to use Point to send out email marketing to help you out with this.
January 5, 2010
This is a reminder to all 7.2 customers that you need to download the Point 7.2 Service Pack 1 (SP1) before you process any loans this year!
This update is mandatory!
SP1 contains the following changes that make the GFE 2010 compliant:
- Signature lines on Page 3 of the GFE 2010 have been removed
- Line for Flood certification fee has been added to old GFE Form
- The Print feature of the Tradeoff Table has been updated
You’ll also notice additional enhancements that will improve your software in other areas:
- Point PDFs for interfaces and document storage
- Closing document interface
- NMLS number field
- Rules (PointCentral)
- Freddie Mac® birth date imports
- Co-borrower synchronization
If you are currently on 7.2, please download SP1 without delay. You will not be in compliance without this service pack!
If you are not on 7.2, you’ll need to update your software in order to be compliant for 2010. Call 800-362-2599 now.
December 29, 2009
2010 compliance is knocking on your door! You will need to update to 7.2 in order to process loans starting in January! Don’t miss out on all of the loans you could be processing from new homebuyers!
7.2 includes new compliance requirements that you must have for January!
- GFE Provider List
- Transmittal Summary (1008)
The New Year is just around the corner! Don’t wait! Update your subscription and start 2010 off right! Call 800-362-2599!
If you need assistance in learning about your software or other topics, check out our available classes.
If you are already on 7.2, make sure you download the 7.2 Service Pack (7.1SP1) with the updated GFE 2010 form.