Calyx misses the Point...
December 03, 2021
Calyx misses the Point...
Score 4 out of 10
Overall Satisfaction with Calyx Point
We use Calyx Point as our loan origination software to capture client data, structure mortgages, and transfer the files to lenders via the new MISMO 3.4 file standard. I personally use it to initiate loans, create scenarios for myself and other loan officers. I also use Point to help other loan officers with their files and troubleshoot.
- Simple interface
- Connects well with agencies, vendors
- Provides reports for tracking activity
- Marketing tools
- There is lots of room for improvement as there have been many bugs in the implementation of the new format. Responsiveness to customer needs was inexcusably slow for a change that was years in the planning.
- Many of the calculations seem inconsistent on Fees Worksheet and other pages, including differences in how the information appears when printed vs onscreen.
- The menus are not intuitive and could be much better.
- The user interface is archaic.
- Field links do not work correctly and take a long time to be corrected.
- It's already known
- It basically works, most of the time
- it's supposedly less expensive than other options
- The program meets the bare minimum for originating loans but when it breaks, the impact is significant. Even a small break in generating a report with inaccurate numbers can cause loss of confidence in our business and loss of a deal.
- The downtime caused by the extremely poor implementation of the new URLA was costly and unnecessarily painful. The company did not adequately prepare for this. Some glitches were inevitable but they had [few] resources available to address the issues they knew were coming.
- Customer service from the company by phone takes hours and is often a wasted effort. Wasting their customer's time is costly to their businesses.
- If I were starting a mortgage company or selecting a new LOS, I would not select Calyx.
There are several other products available that we will consider when we are able to upgrade from Calyx.
Do you think Calyx Point delivers good value for the price?
Are you happy with Calyx Point's feature set?
Did Calyx Point live up to sales and marketing promises?
I wasn't involved with the selection/purchase process
Did implementation of Calyx Point go as expected?
I wasn't involved with the implementation phase
Would you buy Calyx Point again?
It gets the job done for initiating loans. I can't say anything about the marketing tools as I haven't used them but as a de facto technical support person in the company, I have helped many of the loan officers resolve issues (or inform them they are not resolvable yet). One limitation I ran into was property and loan matching. The system allows one property to be matched with multiple liabilities but not the converse. For an investor with a portfolio loan, it was not possible to show one liability relating to multiple properties. This required workarounds. The field for entering properties is very small in list form making review difficult when there are more than a few properties. The interface could be more adjustable. Overall, the program is not well-liked by the loan officers who would prefer a more modern platform, though all surely have some drawbacks. The program appears to have many functions we do not use and it would be preferred if the ones we use worked better.