Calyx Software plans to release an update of its loan origination system this summer which it says will use data from the application pipeline to project revenues. But at least one competitor claims to already offer such services.
The mortgage software firm previewed Point 6.0 at the 2007 MBA Mortgage Technology Conference Monday, according to an announcement. The new version includes "mortgage banking-specific functionality" and is due out this summer.
Twelve new screens provide report and status data for all activity from underwriting through loan sale with trail documents management, the announcement said.
"The changes in Point are deeper than just an offering of new screens," Dennis Boggs, senior vice president of Calyx Software, said in the announcement. "The changes show Point's evolution to a product that supports a more efficient way to manage both a mortgage broker operation and a mortgage banking operation."
The firm said its software provides a "snapshot report" of the company -- enabling managers and owners to determine the profitability of loans in process.
Reports about the cost of doing business, loan status and the pending "book of business" can be pulled and sorted by multiple metrics, the company said.
"With the ability to run enhanced reports on that data, and more data access control, Point can be relied upon as a system of record for small and midsize bankers," the announcement explained.
"Many of our broker customers have become or are evolving into mortgage bankers, and it's our goal to continue to serve the needs of all our users," Boggs added. "The bankers who we expect to most benefit from this release are those originators who both broker and bank their loans, and sell their funded loans on a servicing-released flow basis."
Ellie Mae Chief Technology Officer Limin Hu told MortgageDaily.com its own revenue forecasting software, Encompass Banking Edition, delivers "a comprehensive set of tools to support the back end banking process and enabled our customers to create their own custom screens to capture the additional data that they needed for their specific business needs."
The software, released late last year, is designed for greater visibility across the entire business process from acquisition to loan fulfillment while reducing integration and maintenance costs, according to Ellie's Web site.
"This is a new breed of software," Hu said. "It's a solution that will help them do their business better."