Skip to main content

Del Mar DataTrac adds new options to its ExTrac product

May 04, 2010

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: ►BB&T/Colonial Bank ►GMAC/RFConnects ►U.S. Bank ►ViewPoint Bank ►Wells Fargo/Wachovia ►Comerica ►Texas Capital Bank ►Fiserv WireXchange For more information, visit www.dmdinc.com.  
About the author
Published
May 04, 2010
Building A Digital Bridge Between Separate Revenue Streams

Menu cloud-based technology capitalizes on the entire borrowing cycle

Economists Less Confident Rates Will Drop Following Fed Decision

After sixth consecutive month with no change, the likelihood of cuts in 2024 feels "more out of reach."

FHFA Final Rule Released

Rule codifies equitable housing programs, GSE Plans

FDIC Announces Closure Of Republic First Bank

The Philadelphia-based lender's 32 branches will now be served by Fulton Bank

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

In Wake Of NAR Settlement, Dual Licensing Carries RESPA, Steering Risks

With the NAR settlement pending approval, lenders hot to hire buyers' agents ought to closely consider all the risks.