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Point Users Can Access Lender’s Section 184 Loans For Native Americans

Calyx Point users can now access products and pricing information for 1st Tribal Lending programs, regardless of whether they have registered to broker loans with 1st Tribal Lending. 1st Tribal Lending is a division of Mid America Mortgage, a multi-state, full-service mortgage lender.

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1st Tribal Lending, which is licensed in 40 states, offers Section 184 home loans to Native Americans who are enrolled members of federally recognized tribes. Properties can be financed both on and off native lands, for new construction, rehabilitation, purchase of an existing home, or refinance.

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“In today’s competitive market, lenders are looking for new niche markets and programs to put their borrowers in homes,” said Bob Dougherty, Vice President of Business Development at Calyx Software. “This integration allows 1st Tribal Lending to increase its outreach to Calyx’s extensive user base, and, at the same time, provides all Calyx customers, even if they are not yet approved to broker loans with 1st Tribal Lending, access to the lender’s loan programs for Native American borrowers.”

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“One of the challenges of offering unique programs, like Section 184 loans, is marketing and educating brokers on the guidelines,” said Brett Robinson, Managing Director of 1st Tribal Lending. “We are excited to be integrated with Point to help brokers, and ultimately more Native American borrowers. Having easy access to our programs will open up more opportunities for purchases on and off the reservation, site built constructions, manufactured homes, and refinances.”

To access 1st Tribal Lending’s offerings in Point, select Product and Pricing from the Interfaces menu, select 1st Tribal Lending, and click 1st Tribal Lending.

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Easing The Pathway For Brokers And Correspondents To Get To Lenders

SecondaryWire, Inc., the wholesale mortgage auction platform, has released a new integration with Calyx Point Software. Now, mortgage bankers and brokers can upload loan data directly from Calyx Point and automatically generate loan postings to receive bids for their mortgage loans from lenders on SecondaryWire.

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“SecondaryWire’s integration with Point is just the latest example of our commitment to ensuring that loan originators have the support they need to maximize their performance and serve their customers effectively,” said Larry Mullen, Founder and Executive Vice President of SecondaryWire. “We’re very excited to add direct support for the tool that so many of our customers rely on to originate and process their loans. Extending their workflow automation into lender outreach on our platform is a natural evolution for Point users.”

SecondaryWire is a wholesale mortgage auction platform that allows loan sellers to post auction listings with basic loan details, including loan amount, interest rates, and credit scores. Lenders can search for loans that meet specific portfolio requirements, bid on the loans and connect with brokers anywhere in the U.S., without the expense of opening branches or increasing staff.

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“We are always pleased about adding capabilities and new services to our products to help our customers. The integration with SecondaryWire will allow easy, secure access to an innovative platform which has the potential to help our customers increase their profitability and efficiency without increasing overhead expenses. This is the goal of every business,” said Dennis Boggs, Senior EVP for Calyx Software.

Progress In Lending
The Place For Thought Leaders And Visionaries

Partners Seek Valuation Accuracy

Veros, a provider of the automated valuation model (AVM) VeroVALUE and a reseller of other top-performing AVMs, has been integrated into San Jose, California-based CalyxSoftware’s Pointsoftware. Calyx Software is a provider of loan marketing, originating and processing software. Through the integration, Veros provides immediate access to VeroVALUE and other respected AVMs for Point users, along with formulated AVM cascades that use popular industry AVMs in succession to increase user hit rates.

VeroVALUE is a consistent high performer in industry tests, bringing perspective and accuracy to valuation efforts in support of lending decisions, portfolio analysis and risk reduction strategies. Veros also offers a variety of AVMs from other companies, all vetted to meet Veros’ high standards.

“In talking with VeroVALUE users, I was pleasantly surprised to learn the accuracy of their AVM when compared to other AVM vendors they tested,” said Dennis Boggs, executive vice president, business development for Calyx Software. “One user said, ‘We feel safer using VeroVALUE due to Veros’ conservative approach. The other vendors we tested didn’t apply any standard deviation and their results were all over the place – up to 30% off compared to the appraised values,’” Boggs related. “With the new VeroVALUE interface, users will now have improved ease in ordering from within Point, save time by not having to re-enter data, and have the value returned in a PDF file that is automatically saved in Point’s Document Storage,” he said, adding, “We love that.”

AVMs have long been a staple of the lending industry, providing fast, objective and inexpensive valuation information for a variety of uses. Evolved modeling techniques and a wealth of available data have combined to make AVMs much more accurate and reliable, increasing their importance in mortgage transactions in recent years.

“Partnering with Calyx to make highly accurate AVMs from Veros and others immediately available is a very positive development for Point users,” said David Rasmussen, senior vice president of operations for Veros. “Lenders, brokers and other Calyx users are able to make better and faster decisions to improve loan performance and reduce risk by using technologies from Calyx and Veros,” he said. “We are delighted to be part of their reliable network.”

About The Author

[author_bio]

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.