Magazine article American Banker

Calyx, Ellie Mae Playing Nice?

Magazine article American Banker

Calyx, Ellie Mae Playing Nice?

Article excerpt

Byline: Austin Kilgore

It's no secret that the mortgage technology providers Calyx Software and Ellie Mae are fierce competitors.

It's not uncommon for the two vendors to battle for the same lender's loan origination system business and the companies have a long and complicated history, including a copyright infringement lawsuit filed by Calyx that settled out of court by Ellie paying Calyx an "undisclosed sum" in late 2005.

So when each company recently purchased a product and pricing engine vendor - Calyx acquiring Loan-Score Decisioning Systems on Dec. 22 and Ellie picking up Mortgage Pricing Systems, developer of Loan Eligibility and Pricing, or LEAP, on Jan. 4 - it was unclear how long Loan-Score's customers using Ellie's Encompass360 LOS and Mortgage Pricing Systems' customers using Calyx's Point LOS would be able to use both products.

"That will be a function of Calyx Point," Jonathan Corr, Ellie Mae's chief strategy officer, said in a January interview about the Mortgage Pricing Systems acquisition. "It's totally their decision. I have every intention of operating with all customers, but my hands are tied when it comes to certain vendors and it depends on their decision."

Ellie and Calyx have companion platforms - which technologists call a collaborative network services platform - that connect myriad third-party mortgage fulfillment and underwriting software products to their respective LOS. Before the acquisitions, Loan-Score had an interface to Encompass360 through the Ellie Mae network and LEAP was accessible to Point users through the Calyx network. …

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