Origination technology developer Calyx Software acquired Loan-Score Decisioning Systems, Inc., a technology provider whose offerings include a product and pricing engine, an automated underwriting system and eligibility decisioning for Federal Housing Administration mortgages.
Calyx is based in San Jose, Calif. and has an additional office in Dallas. It will begin integrating Irvine, Calif.-based Loan-Score's operations immediately. Calyx’s acquisition includes Loan-Score’s assets and business and the company said it will be business as usual for Loan-Score customers, with contact numbers and personnel remaining unchanged. Officials from both companies declined to disclose terms of the transaction.
“To me, we are continuing to push further and deeper into the value we provide to all of our client base, whether they are a mortgage broker, mortgage bank, bank or credit union,” Calyx National Product Sales Director Wade Brantley told National Mortgage News. “This is a great move for Calyx.”
Loan-Score has an automated underwriting system interface with the FHA’s Technology Open to Approved Lenders, or TOTAL, Scorecard loan approval platform. Lenders upload loan files to the Loan-Score website for underwriting review and approval by the TOTAL Scorecard technology. Other decisioning technology reviews mortgage portfolios for lenders of varying sizes and the company also has other Web portals for mortgage pricing and a database of investor guidelines.
Calyx’s flagship product is Point, a technology platform that’s evolved over the years to become an end-to-end loan origination system for mortgage brokers and lenders. Both Calyx and Loan-Score offer self-hosted and software-as-a-service versions of their technology.
