Fannie Mae, Calyx team-up to provide technology solutions for small lenders

Real Estate Weekly, March 10, 1999

Lenders across America continue to implement automated underwriting technology at an unprecedented pace. To help these lenders automate their business processes quickly and cost-effectively, Fannie Mae, the nation's largest source of financing for home mortgages, and Calyx Software, a leading provider of Windows-based loan origination software for mortgage industry professionals, have joined forces to provide lenders with the Fannie Mae Technology Pak, the mortgage industry's first technology solution that bundles Desktop Underwriter with leading hardware components and loan origination software in one easy-to-use package.

The Fannie Mae Technology Pak is designed to provide lenders with technology that combines leading edge software and hardware packages. It includes some of the critical components lenders need to begin using Desktop Underwriter: one or more laptop or desktop computers; access to MORNETPIus, Fannie Mae's private, secure, value-added network; Desktop Underwriter software; and Calyx Software's POINT for Windows loan origination software. Optional third-party software also can be pre-installed by the hardware provider.

"We are pleased to team with Calyx Software to provide our lenders with quick, easy, and cost-effective access to our proven technology," said David Brashear, Fannie Mae's vice president of technology marketing. "This innovative arrangement allows lenders to purchase and implement comprehensive automated underwriting capabilities easily and quickly.

By offering lenders access to Desktop Underwriter, bundled in one complete package, Fannie Mae and Calyx Software are enabling lenders to rapidly automate significant portions of their business processes."

"The strength of our partnership with Fannie Mae is reflected in the Fannie Mae Technology Pak," said Jack Trageser, director of marketing and business development for Calyx Software. "We are thrilled to work with Fannie Mae to provide lenders leading technology to deliver a complete automated underwriting solution."

Desktop Underwriter is one of the mortgage industry's leading automated underwriting systems. It delivers fast, objective loan recommendations and provides lenders with access to many cost- and time-saving benefits, including streamlined processing, documentation and property valuation. Desktop Underwriter also offers lenders access to products that can expand their markets and help them reach out to more potential homebuyers. Currently, nearly 800 lenders across the U.S. are now using Desktop Underwriter to process more than 30,000 loan submissions a day.

Calyx Software's POINT for Windows is a multi-purpose pre-qualification, origination, processing, underwriting and management application. It is designed for mortgage loan originators, mortgage brokers, mortgage bankers and other retail mortgage professionals. POINT for Windows follows all the standard secondary market forms and government regulations regarding processing conventional and government mortgage loans.

Calyx Software is a technology company specializing in data processing for the financial services industry. Calyx's flagship software, POINT for Windows, is used by more than 13,000 companies to originate and process mortgage loan applications. Mortgage brokers and lenders use POINT for Windows to market loans, pre-qualify borrowers, process applications, track documents, generate reports and manage their businesses.