Technology News

SAN JOSE, Calif.-- Calyx Software, a major mortgage industry provider of loan marketing, originating and processing software, announced the addition of an automated valuation model (AVM) category to the Calyx Network, providing users of Calyx Point loan origination software with connection to participating AVM vendors.

The new AVM category is accessed within Calyx Point's services menu and includes four new companies providing appraisal and title insurance services.

Used primarily by mortgage lenders to pre-screen, underwrite, originate, and enhance quality control, automated valuation models (AVMs) significantly reduce the amount of time and money it takes to assess a property's current market value. Using Calyx Point, a loan officer can order fully insured reports directly from the services menu's AVM category and automatically receive and attach the appraisal document to the loan file.

The new category in Calyx Point currently includes four companies that specialize in providing AVM reports: Sacramento, Calif.-based First American CoreLogic; Columbus, Ohio-based CBCInnovis; Aliso Viejo, Calif.-based PLATINUMdata; and Troy, Mich.-based Title Source.

"Calyx Software continues to provide improved user-friendly features and functions for loan officers as well as a more streamlined and integrated process for ordering and receiving loan documents," said Dennis Boggs, senior vice president of Calyx Software. "The addition of the valuable AVM category and new service providers within Point creates even more efficiency for lenders."

Source: Calyx Software