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DALLAS-Calyx Software here has released Point version 6.2, which is fully compliant with recent FHA changes that include the new forms required for all loans taken on or after Oct. 1.
The new forms enable Point users to process an FHA loan more efficiently, said Josh Weinberg, business analyst at Calyx.
"We've been working with FHA to come with a way for our users to make sure they meet the requirements but without having to do data entry or extra work," he said.
"Steve Preston, HUD secretary, in his words, feels that FHA originations on single-family homes will double in fiscal years '08. By fiscal year '09, he anticipates single-family originations to hit 1.4 million."
Mr. Weinberg said Calyx is taking a pro-active approach in creating screens and forms that consider this compliance need and also work directly with the top executives and top officials from HUD and FHA. "I feel we're far more effective if we're able to participate in the creation phase instead of reacting to the rules as they come out."
Specifically, Point 6.2 features...