Calyx Software will be closed on Monday, September 6, 2010 in observance of Labor Day. Offices will re-open for normal business hours on Tuesday, September 7, 2010, 7:00AM - 7:00PM CDT.
If you need assistance during this time, please visit the online Knowledge Base or the online User Guide.
Calyx Point® 7.2 Service Pack 2 Available Now!
This service pack was developed to address mandatory updates to the GFE 2010 Service Provider list as well as to provide additional functional improvements to the GFE and other features. You must have Point version 7.2 to download this service pack.
This update provides the following critical solutions:
The Service Provider List has been updated with an improved interface and the ability to print multiple providers for each service
Forms 4506/4506-T have been updated
MLDS Form 882 has been added for California users
Lock boxes have been added to calculated fields and "Total from GFE 2010"
The HMDA report is updated to meet HMDA 2010 file specifications
Non-compliance related updates and enhancements include:
Screen fields have been improved to make "Credit to the Borrower" entry easier
Originator e-mail now auto-populates on the Good Faith Estimate
The USDA Guarantee Fee will now print for USDA/RHS loans
The loan amount will auto-populate on the VA Loan Comparison
The Initial Fees Worksheet no longer includes line item numbers
Fields for new vendor Servicing Solutions have been added to the Banker Shipping screen
Freddie Mac interface has been improved for data imports
The Cardex Database now populates the Loan Originator field
The Combined Transmittal Summary will now print correctly aligned
Understanding the Good Faith Estimate (2010)
The Department of Housing and Urban Development (HUD) issued a final rule under the Real Estate Settlement Procedures Act (RESPA) to simplify and reduce settlement costs for consumers. Organizations will be required to use the new standardized Good Faith Estimate 2010 after January 1, 2010.
With the new Good Faith Estimate there are new regulations in regards to the yield spread premium and the service provider list (recorded webinar included as a resource in this article)...read more
Yield Spread Premium (YSP) is given as a credit to the borrower...read more
Providing a list of service providers to the borrower
...read more
Introducing Point & PointCentral 7.2
Point and PointCentral 7.2 offer simplicity, flexibility, and functionality with significant new extras as well as updates for compliance with the latest Federal regulations.
With new Federal compliance requirements going into effect on January 1, 2010, this is one release you can’t afford to miss.
Compliance Requirements
GFE Provider List: If mortgage companies permit shipping for required services, a separate form attached to the Good Faith Estimate is required as of January 1, 2010.
Loan Application (1003): Fannie Mae requires a new Form 1003 to support mandates of the S.A.F.E. Act. The new form must be used for all applications taken on or after July 1, 2010.
Transmittal Summary (1008): Updated form includes new project classification codes required by Fannie Mae effective January 1, 2010.
New Features and Enhancements
Co-borrower Synchronization
Banker Screen Upgrades
Document Storage Improvements
Closing Documents Improvements
Product & Pricing Interface
Enhanced Rules Functionality *PointCentral
Audit Trail*PointCentral
Provides the option to enable automatic logging of every field change, and which user was in the file at the time.
