PushMX software complements Calyx Point
By PAULA PARISOT
3/17/2005

An add-on software program designed to work in concert with Calyx Point has drawn praise from at least one mortgage company that says it doubled production without incurring the accompanying expenses. But a major competitor says its own product costs less and does more.

Silicon Valley based-PushMX Software describes its new program as "a suite of applications that enables mortgage originators to optimize their bottom line, improve the minute-by-minute productivity of their origination teams, increase profitability and deliver better customer satisfaction to generate a continuous stream of new customer referrals."

PushMX Chief Technology Officer Stacey Chang said the implementation of the program is a relatively quick process depending on the size of the organization. "Some of our smaller customers with five to ten brokers have it up and running in about an hour-and-a-half to two hours," Chang said.

Los Gatos, Calif.-based Pacific Mortgage Executive Cindi Gardner stated that the software program integrated seamlessly into their wireless network and has allowed the company to double their volume without the additional cost. "One loan processor can now do the work of two, plus take on more of the loan officer's tasks," Gardner said. "This allows the loan officer to work more in the field and produce more loans."

The core module manages and tracks the entire pipeline from one place using color-coded icons to visibly update the user of loans in progress, track deadlines, and manage tasks at the push of a button.

Chang said that after six months of on-site observation at various mortgage companies, they noticed that loan originators spent a lot of time fielding phone calls from those in need of a loan update, which prompted the development of the second module.

To free up the originator's time, Chang said, the program includes a Web site module that allows interested parties, such as loan applicants and real estate agents, to access the system and view loans in progress.

The company said the third module, business optimization, "allows people to understand where the bottlenecks are in their business, to improve processing efficiency."

This includes direct employee management -- employee numbers, lost time or revenue because of mistakes or misunderstandings -- while also automatically mining a broker's database of existing clients for new refinance opportunities.

The Company said that its software integrates seamlessly with and augments Calyx Point making it more valuable to its users. "Our customers are able to keep doing what they have been doing with Calyx while PushMX helps them manage their businesses more efficiently," PushMX Software CEO Dean Haritos said in a recent company interview.

While PushMX is likely to be compared with its competitor Encompass, Ellie Mae's Senior VP of Products, Jonathon Corr, was quick to point out the differences in the two programs.

"PushMX is simply a bolt-on feature to Calyx Point. It is no more than one of the innumerable capabilities in Encompass," Corr stated in an email to MortgageDaily.com. "Encompass provides a comprehensive integrated solution that meets the need of all mortgage professionals including the loan officer, processor, and broker. From CRM to processing to electronic transactions to a Management Dashboard, Encompass provides it all. And Encompass has over 25,000 mortgage professionals as regular users. The PushMX investment is more per user than Encompass alone, and in addition, you need to purchase Calyx.

"In comparison to Encompass, using the Point/PushMX combination results in more complexity, less functionality, and greater costs," Coor commented. "And customers are incurring the risk of future coordination between two independent companies."

Article © MortgageDaily.com All Rights Reserved