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Calyx Software Offers Automated Verification of Employment and Income By James Comtois In order to speed up the loan process as well as increase its accuracy and mitigate potential fraud, Calyx Software, a San Jose, Calif.-based provider of loan marketing, originating and processing software for the mortgage industry, has recently verified an employment and income category within the Calyx Network, connecting users of Calyx Point loan origination software to participating employment and income verification vendors. The addition of the VOE/VOI category allows mortgage brokers and bankers to request up-to-date, fraud-proof verifications of employment and income without leaving the loan file in Point. By accessing the service's menu within Point, brokers can directly request verification of a borrower's employment and income from The Work Number, a division of St. Louis-based TALX, a provider of automated employment and income verification. More than 50,000 different verifiers including several major mortgage lenders use the Work Number. "One of the biggest challenges in the loan closing process is managing the steps to request and receive income or employment verification," said Dennis Boggs, senior vice president of Calyx Software. "Integrating The Work Number within the Calyx Network instantly connects brokers to this information, further speeding the loan process." The addition of the VOE/VOI category is part in parcel with Calyx Software's recent ongoing updates and upgrades to its software and services. In early November, the LOS provider expanded its Calyx Network with a new network interface update. The November Calyx Network Interface update contains connections to 20 mortgage service providers, including Silver Hill Financial, the first commercial lender in the Network. Also, at the end of October, Calyx Software added a product and pricing engine category to the Calyx Network, connecting users of Calyx Point to participating product and pricing engine vendors. The new category is accessed within Calyx Point's Interfaces menu and includes six new companies offering PPE services.

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