Pam Selker Rak – MKTG Communications for LoanSifter
LITTLE CHUTE, Wis., Aug. 7 /PRNewswire/ — LoanSifter, the industry’s most accurate comparison search for Prime, Alt-A and Subprime pricing and pre- approvals, and Calyx(R) Software, makers of the award-winning Calyx Point loan origination and processing system, released an interface allowing the integration of LoanSifter’s Subprime search to Calyx Point.
LoanSifter uses the Calyx WebConnect technology, ensuring complete compatibility with Point and Point Data Server. WebConnect allows Loan originators to launch LoanSifter directly from inside Point, enabling Point users to send loan data without leaving the Point application.
“Using WebConnect, you are now able to transfer borrower loan scenarios from Point directly into LoanSifter’s Subprime search engine,” explains Craig Doriot, LoanSifter’s Chief Technology Officer. “LoanSifter thoroughly analyzes all of the subprime and ALT-A programs from the top subprime wholesalers and matches it against the borrower’s scenario. We provide side-by-side comparisons of different types of products laid out in a powerful and simple manner, with easy sorting between product types, pricing, and YSP, along with many additional filtering options for the power user.”
LoanSifter offers accuracy, flexibility, and an impressive set of features. Each search provides accurate, fully-adjusted rates, lender fees, and product stipulations from the top lenders. Loan originators can re-run scenarios with borrower adjustments to understand the effect paying off a certain debt or clearing up credit will have on the loan. A simple e-mail function makes it easy to pass the results on to selected AEs.
LoanSifter properly evaluates how to handle credit scores for each individual lender. LoanSifter looks at the documents made available and matches them up with each lender’s requirements, properly determining which products are allowed. LoanSifter’s interface and required fields have been carefully thought out to obtain maximum accuracy while simplifying the search process.
According to Dennis Boggs, Senior Vice President of Business Development at Calyx Software, “Calyx is committed to providing our customers with reliable, cost-effective mortgage solutions. This recent integration between LoanSifter and Point will provide our customers with an easy and effective way to match loan applications with underwriting details for the major lending sources, and help them to close loans faster.”
Calyx’ latest I-Update automatically adds LoanSifter to the new product and pricing category, found within the Interfaces drop-down menu. Calyx Point is currently used by more than 300,000 Point and Point Data Server users. Calyx market share is 68% according to the Wholesale Access 2004 Broker Study which was released July 2005.
Pricing & Availability
Integrated with Calyx – $60/month for the first user, $10/month for each additional user. Standalone (not using Calyx integration) – $50/month for the first user, $10/month for each additional user. More information and online registration can be found at http://www.loansifter.com/.