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New Versions of Del Mar Database's DataTrac(R), WebTrac(R), DocumentTrac(TM) and Vendor Services Platform Enable Lenders to Increase Production, Efficiency and Profitability

Posted on: Monday, 24 October 2005, 09:00 CDT

Updates Include Improved User Interface, Better Security, Greater Customization

Del Mar Database, provider of mortgage banking solutions to small and medium size lenders, has released updates to its core mortgage banking software solution, DataTrac(R), its DocumentTrac(TM) and WebTrac(R) applications and its Vendor Services Platform (VSP). DataTrac is an automated back-office processing solution that improves efficiency, production and profitability. DocumentTrac is an electronic document management solution. WebTrac is an originator's web-interface to a lender's back-office operation. The VSP allows users to order third-party services directly from within DataTrac.

"Our goal at Del Mar Database is to equip small to medium-size lenders with the tools necessary to boost production and profitability while reducing costs and decreasing risk," said John Walsh, president of Del Mar Database. "These new upgrades streamline loan processing, empowering lenders with new capabilities and functionality that help them originate more loans more efficiently and with a greater profit per loan."

Version 8.0 of DataTrac provides an update to both the infrastructure of the core application and a refreshed user interface (UI). The new UI features scalable screens for improved readability, standard application controls for simplified training and expanded menus for department-specific reports. This version of DataTrac also includes customizable fields for each department. Security enhancements with this version include updated user password requirements and the use of a SQL database, improving the security of borrower data and enhancing support for disaster recovery. Additionally, the new version improves the speed and reliability with which remote offices can run DataTrac.

WebTrac 8.0 enhancements allow originators to view and approve fees on an individual loan basis prior to drawing docs. The solution also allows brokers to create and manage individual loan officer accounts.

DocumentTrac 8.0 adds the ability for users to annotate document images and enhances the system's workflow capabilities. This release also enables organizations to image non-mortgage documents such as legal and accounting paperwork. This version of DocumentTrac adds new interfaces to Chase and Thornberg, providing electronic delivery of imaged documents to these investors in addition to the existing interface with Countrywide.

VSP 8.0 allows lenders to order third-party services from within DataTrac and incorporate request results directly into the system without the need to rekey data, improving data quality, increasing production and reducing errors. This release also includes interfaces to Freddie Mac, DocMagic and a HMDA rate spread calculator.

About Del Mar Database

San Diego-based Del Mar Database introduces new technologies to lenders of all sizes that leverage their existing tools to improve efficiencies, increase profitability and increase pipeline capacity. The company's proprietary software solution, DataTrac(R), enables lenders to reduce costs, generate greater profits per loan, minimize errors using business intelligence and fund more loans with fewer people. Founded in 1991, the company's customers include mortgage lenders, brokers becoming lenders, credit unions and community banks. Del Mar Database is a wholly owned subsidiary of Fiserv, Inc. (NASDAQ:FISV).

For more information, visit www.delmardb.com.

Source: Business Wire

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