pAudit is a software program that runs along with Calyx Point™ to help monitor and maintain quality control and help processing be more effective. pAudit is able to read all values in a Point™ file and analyze the meaning in context of the entire loan. It produces an audit report detailing errors, missing information, inconsistencies, cash to close, reserves, and credit scores to help processors catch little problems before they become big problems. It currently uses 232 built-in rules, 34,082 lines of code, and other advanced technology to analyze and report on errors and potential problems. It serves as both a processor’s companion and a management QC tool to help mortgage companies improve their operation, reduce expenses, reduce missed deadlines, and increase their professionalism.
Frequently Asked Questions |
pAudit is a program that analyzes Calyx Point files looking for errors, conflicting information, and potential issues. It produces a checklist report of its findings to help the processor, loan officer, and QC Specialist address these issues before they become problems. | |
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pAudit uses 232 built-in rules to analyze thousands of fields. It also allows you to write your own rules. It can run automatically within Calyx Point and help you fix the problems as you work on the file. It produces a checklist of issues in the following categories: Errors: Items that are clearly errors and could cause the loan to be suspended or declined. Warnings: Items that could be errors, inconsistencies or issues to address with the underwriter. Miscellaneous: Items that don’t clearly fall in other categories. FNMA Errors: Issues that may cause an unsuccessful DU/DO result In addition, it also analyzes the cash to close, reserves, and source of funds. It clearly presents this in the Cash-to-close section. This helps you see exactly how you have the loan set up. It also produces a liqud assets section that details the source of funds for closing so that you can see exactly what you have to verify. It also warns you if certain problems exist such as the borrower having less than 5% of their own funds, and unacceptable sources of funds. Finally, pAudit analyzes the borrowers’ credit scores using 21 different methods. This can help you identify a program that would offer an advantage using a particular method of calulating scores. For instance, if the borrowers’ scores are 603 using the middle-of-three (primary wage earner) and 671 using highest-of-primary method, you may have a program that will provide a higher LTV and/or lower rate using the highest-of-primary method. This gives you a distinct competitive advantage. |
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Absolutely. You can turn the built-in rules on or off. And you can build your own rules too! We give you maximum control by allowing you to use profiles of rules to fit certain loan programs as well. |
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Yes! You can create your own rules using either a simple logic grid or you can write your own code using VB Script. pAudit provides access to the loan file within your scripting rules so that you can test, compare, or even alter any field in the file. Is that enough control? |
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The reports are produced in two formats: Text and HTML (like a web page). They are displayed on the screen and can be printed directly to your printer. They are organized logically in sections so that you can review the results easily. You can even re-audit the loan with the click of a button in case you want to change the file on the fly. See the sample reports for more information. To view some screen shots, click here. |
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Pretty simple. If you’re running Point, you can run pAudit. |
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There are 232 built-in rules that you can enable or disable through the settings and profiles. These are listed at the end of this document. Click here to view a comprehensive list of rules. |
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pAudit will work with all versions of Point beginning with 3.8 up through 5.3. In some cases, certain rules may not be supported in early Point versions because fields were not available at that point. |
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Yes. You can try pAudit out for free for 15 days. Simply follow this link to download and install your free version. http://www.mtig.biz/paudit.asp?sec=trial |
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This is the good news. Prices start at $38 per user (10 user minimum) and drop with volume pricing. Please see our pricing plan at http://www.mtig.biz/paudit_pricing.asp
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