Calyx Software, a provider of comprehensive mortgage software solutions for banks, credit unions, mortgage bankers, wholesale and correspondent lenders and brokers, recently announced that Fairway Asset Corporation has selected Calyx Path as its loan origination software (LOS).
Founded in 2008, Fairway Asset Corporation is a mortgage bank licensed to do business in Alabama, California, Colorado, Delaware, Indiana, Maryland, New Jersey, North Carolina, Pennsylvania, and Virginia. The company offers mortgage programs, including conventional, jumbo, FHA, and commercial mortgages.
According to Taihun Cho, Manager at Fairway Asset Corporation, the company began evaluating new LOSs because it wanted a more modern, cost-effective LOS that could grow with its business, as well as easily handle regulatory updates.
“We chose Path because it is an entirely new LOS and gives us more freedom than our previous legacy system,” said Cho. “From a management point of view, Path is easier to maintain since we no longer need to worry about managing hardware or software updates. The cloud-based LOS can be accessed on multiple platforms—desktop, tablet, mobile, etc.—which allows our loan officers to be productive even when they’re not in the office. And, best of all, Path costs less than our previous LOS.”
“According to a recent report from McKinsey & Company, a successful digital transformation requires ‘building capabilities for the workforce of the future’ and ‘empowering people to work in new ways,’” said Bob Dougherty, Executive Vice President of Business Development at Calyx Software. “Perhaps that’s why more forward-looking lenders, like Fairway Asset Corporation, are turning to Path. Our LOS is nimble enough to evolve with changing markets and regulations and it is built on completely new, cloud-based technology, giving greater flexibility to loan officers to better serve their customers.”