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Calyx software PRMS team up on risk management
DALLAS (7/6/11)--Calyx Software, a mortgage origination solution provider, and Precision Risk Management Systems (PRMS), a provider of risk management services for mortgage industry, have formed a strategic alliance. Calyx said an increasing number of its clients are making the move from “best efforts” to “mandatory” loan execution. The alliance with PRMS addresses the increased risk that transition creates for lenders, Calyx said. When moving to bulk warehouse lines, investors typically require the lender to work with a reputable risk management firm to get the line approved. Historically, Calyx was not able to address the risk management needs of its clients. The alignment with PRMS gives Calyx clients that option. Moving from best efforts to mandatory delivery allows mortgage banking operations to increase the earnings of their secondary marketing department without increasing loan volume. By using PRMS risk management solutions, lenders will have decision tools and support to maximize trades and profits. "Calyx has experienced rapid growth with mortgage banks and financial institutions that produce significant mortgage volume each month," Wade Brantley, national product sales director for Calyx Software said. “When these operations start producing more than $10 million-$15 million per month, they typically desire to move from selling best efforts to mandatory because the additional margins are significant. In PRMS, we found a vendor that does both extremely well."


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