Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
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."


RSS





print
News Now LiveWire
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
15 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 day ago
You can get your subscription to @cuna 's free, daily, online #creditunion #news service News Now here: http://t.co/YtUejEmAYP
1 day ago