July 12, 2011
Calyx Software, a mortgage origination solution provider for banks, credit unions, mortgage bankers, and brokers, formed a strategic alliance with Precision Risk Management Systems, Inc., a provider of risk management technology products and hedge services for the U.S. mortgage industry.
David Demster, executive vice president, PRMS said his company’s Risk Management Systems will complement Calyx’s lending solutions by delivering dashboard-driven pipeline risk management/hedging capabilities as well as a production analytics system.
When moving to bulk warehouse lines, investors typically require the lender to work with a reputable risk management firm in order to get the line approved. Historically, Calyx was not able to address the risk management needs of its clients. The alignment with PRMS gives Calyx customers a solid option, the company said. Moving from best efforts to mandatory delivery allows mortgage banking operations to increase the earnings of their secondary marketing department without increasing loan volume. By using PRMS risk management solutions, lenders will have the decisioning tools and support to maximize trades and profits.