Calyx Offers New Good Faith Estimate 2010 Training

Calyx® Software®, the preferred mortgage solution provider for banks, credit unions, mortgage bankers and brokers, has added a GFE 2010 training class to its current training schedule.

In order to satisfy revised RESPA regulations, loan originators must provide the new standardized Good Faith Estimate beginning January 1, 2010. In the GFE 2010 class, participants will learn the purpose of the form and how information flows between the current GFE and the new one. They can actually complete a disclosure in their own Point files, with the Calyx instructor walking them through the process, while also learning how and from where each field is populated.

“We realize the new GFE can be a challenge,” said Doug Chang, CEO. “This class will make the transition to the new GFE a seamless effort for Calyx customers.”

Among the challenges addressed in GFE 2010 training are proper use and population of the Originator field; completing the Important Dates section correctly; and detailed instructions regarding the Escrow Account Information and related check boxes on page one of the GFE. Clarification of fees and charges and how to enter them on page two is also included, along with recommended practices for Third Party Originators and meeting Regulation Z requirements. Page three topics include explanation of the various fee-related categories; the Trade-Off Table section that allows the borrower to compare different options for closing costs/interest rates and monthly payments; and the Shopping Cart, which allows the borrower to compare GFEs submitted by different lenders.

About Calyx Software

Calyx Software, the #1 provider of mortgage solutions for banks, credit unions, mortgage bankers and brokers, is dedicated to offering reliable and affordable software that streamlines, integrates and optimizes all phases of the loan process. Point, the preferred application for mortgage brokers and bankers, offers advanced technology with functionality and simplicity that makes loan processing fast and easy. A complete end-to-end platform, PointCentral enables a secure, efficient workflow with centralized storage and remote access. Using Calyx Network, loan officers can connect automatically with over 200 vendors and service providers with high-speed, seamless interaction. With Point SDK companies can easily integrate their current customer relationship management system, sales tools, lead generation software or any other back office systems with Calyx Point. All Calyx products are designed to maximize profitability by enabling more loans to close quickly. For more information, call (800) 362-2599 or visit www.calyxsoftware.com.