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Del Mar Database introduces new DataTrac featureMortgagePress.comDel Mar Database, MERS, DataTrac
Del Mar Database has integrated its Mortgage Electronic
Registration System (MERS) with its flagship lending software,
DataTrac. MERS allows users to record it as the mortgagee of record
(as nominee for the lender) in county land records and, thereafter,
to electronically track changes in servicing and beneficial
ownership rights over the life of the loan.
The integration is made possible through Del Mar Database's
Vendor Services Platform (VSP). It will expedite the transaction
process with MERS by eliminating nearly all manual data entry and
adding instant confirmation and error responses. Customers will be
able to register loans instantly, directly out of DataTrac. In
addition, VSP supports transfer and deactivation transactions
directly out of DataTrac. Because MERS remains the nominal
mortgagee regardless of the number of times the servicing is
traded, loans registered in the system are inoculated against the
need of future assignments.
San Diego-based Del Mar Database, a subsidiary of Fiserv Inc.,
is a software developer for the lending industry. For more
information, call (858) 550-8810 or visit www.delmardb.com.
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