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Fidelity to provide flood certification and tracking to National City

National Mortgage Professional
Jun 20, 2006

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.
Published
Jun 20, 2006
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