Del Mar DataTrac Inc. (DMD), a provider of affordable end-to-end mortgage lending automation solutions, business intelligence, document imaging and management, and loan process workflow tools, has added four new DataTrac ExTrac options. These ExTracs facilitate the extraction, quality control and exchange of mortgage loan data between mortgage bankers and warehouse lenders or servicing vendors.
In Q1 2010, the DataTrac ExTrac was developed by DMD to streamline the funding process with Comerica, Texas Capital Bank and FiservWireXchange; and to support the servicing process with Dovenmuehle Mortgage Inc. The funding ExTracs are designed to send data from the DataTrac central database to the warehouse lenders before funds can be disbursed. For servicing, ExTracs are designed to transfer loan data to a servicing system used to manage the servicing of loans.
DataTrac ExTracs perform many functions: capture required DataTrac data; perform a quality control check against defined vendor requirements; and translate the data in a required format to the other system. This results in a seamless transfer of information eliminating data integrity issues.
"Avoiding data errors is the single most important component to the risk management strategy for a mortgage banker," said DMD Vice President for Client Services Sue Sroka. "DMD always strives to share information with other services to eliminate rekeying of data and streamline the process."
DataTrac Funding ExTrac offering now includes the following services:
►Texas Capital Bank
For more information, visit www.dmdinc.com.