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Brokers and Lenders Experience Significant Workflow Benefits
from Tighter Application Integration
Integration of Advectis' BlitzDocs® and Calyx
Point® moves 100s of brokers closer to paperless loan processing
(ATLANTA, March 10, 2004) - Calyx Software, a leading provider of desktop loan
origination systems, and Advectis, a provider of paperless origination and loan
archiving applications specifically designed for the mortgage industry, announced
a tighter integration of their flagship products, Calyx Point and BlitzDocs.
This integration comes as Advectis joins the Calyx Preferred Point Partner program
and will significantly increase workflow efficiencies for both brokers and lenders
in their loan origination and underwriting processes.
"We use both Calyx Point and BlitzDocs," said Cheryl Reeves, vice president
of Mortgage Services of Mortgage Tree Lending. "We selected both products
because they are regarded as industry standards by our originators. Now that
Calyx and Advectis have decided to more tightly integrate their products, our
loan originators will benefit from a blended application that is easier to use.
The integration of BlitzDocs and Point gives us a seamless best of breed solution
that completely eliminates the need to re-key redundant information."
"Currently, Calyx Point is in use with more than 65 percent of the nation's
brokers," said Greg Smith, president and co-founder of Advectis. "When
our current customer base, which includes four top 20 lenders, has fully deployed,
we anticipate that BlitzDocs technology will be implemented with many of the
same brokers using Calyx. To ensure that this process goes as smoothly as possible,
we felt that collaborating with Calyx to deliver a more integrated, easy-to-use
solution for our joint customers, was the natural next step."
"With more time to focus on their current and potential technology investments,
brokers are highly critical, as they ought to be, of solutions that promise drastic
improvements in efficiencies," said Dennis Boggs, senior vice president
of Business Development for Calyx Software. "With BlitzDocs, our brokers
now have the tools to build their own e-folders, and they can collaborate within
their enterprises, immediately realizing significant efficiencies. Likewise,
brokers can hand off the e-folder to a wholesale lender or investor with ease,
and spend the time they save generating new leads."
With Advectis as a Preferred Point Partner, a broker will be able to access BlitzDocs from
within Point to create electronic loan folders without re-keying any information
already captured in Point. Brokers, using ordinary fax machines or scanners will
also be able to submit imaged documents to lenders for paperless underwriting.
The integration will further streamline the loan process by allowing both brokers
and lenders instant access to underwriting findings, loan status, credit information
and appraisals via a secure on-line connection.
"Clearly we are reaching the point where the loan package itself is undergoing
a transformation from paper to electronic. Through the Preferred Point Partner
platform, Advectis has created even greater efficiencies for BlitzDocs users,
and extended the value of Point," said Boggs.
Point provides brokers with a seamless method of connecting to their lenders
by allowing them to search products and services, register and lock loans, as
well as submit applications for automated underwriting. Data only has to be entered
once and can be transferred to lenders without re-keying. Point also reduces
response time to minutes and automatically stores lenders' responses.
"The fact of the matter is that we have hundreds of brokers using BlitzDocs,
and we have hundreds of brokers using Point," said Herb Palmertree, first
vice president of Atlanta-based Liberty Mortgage. "Even more important than
the heightened integration of two powerful tools for our brokers to get us loans
faster and with less work is the fact that with Calyx' market share and BlitzDocs'
ability to remove paper from the origination and processing of loans, this alliance
is an example of an industry bound for the electronic mortgage."
BlitzDocs allows lenders to streamline the loan document submission and
underwriting process with their brokers or originators. The heart of the BlitzDocs solution
is the electronic loan folder ("e-folder"), which mirrors the paper
loan folder used by mortgage companies today. Using a fax machine or scanner
and a Web browser, brokers, lenders, investors and other authorized parties are
able to capture, submit, organize, underwrite, audit, securely share and archive
submission packages and closed loan documents in real time.
Calyx created the Preferred Point Partner program to provide mortgage service
providers with a streamlined automation platform built into the Point software.
This integration is one additional step toward bridging today's paper-intensive
processes with tomorrow's e-mortgage by reducing costs, turnaround time and increasing
overall process efficiency for both brokers and lenders. To be certified as a
Preferred Point Partner, a vendor's interface must meet certain requirements,
including the ability to send data from inside Point, and if necessary, create
or update Point files.
About Calyx Software
Calyx Software provides applications and services to businesses that broker or
provide financial services to their customers. The more expediently and smoothly
these businesses can complete transactions, the sooner their customers can enjoy
the properties, items, and services they are purchasing. To this end, Calyx combines
technology with its extensive experience in the mortgage industry to create applications
that increase the effectiveness and profitability of mortgage professionals.
The industry leader in mortgage automation, Calyx provides its customers with
the dependable solutions they need and the high-quality support they deserve.
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