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Del Mar DataTrac partners with CCMC on regulatory compliance solution

Jul 27, 2010

Del Mar DataTrac Inc. (DMD), a provider of end-to-end mortgage lending automation solutions, and CCMC Inc., a technology interface provider, have released the DMDBridge, a connectivity tool that automatically moves loan data from a lender's third-party origination system to the DataTrac mortgage banking system of record. The first DMDBridge was created for companies with loan officers working in Encompass 360 that rely on DataTrac as their centralized mortgage lending platform. DMDBridge captures all of the data in the industry standard DU 3.2 file set plus the addition of loan information needed to ensure compliance with Real Estate Settlement Procedures Act (RESPA) and other emerging regulatory requirements. DMDBridge pulls fee information required by RESPA for borrower disclosures and escrow information for the Truth-in-Lending (TIL) disclosure from Encompass and automatically populates fields in DataTrac. Without DMDBridge, processors are required to manually enter loan file information from the LOS into DataTrac, introducing inefficiency and the adjunct risks of re-keying data. "DMD is all about making mortgage bankers more efficient, which includes adapting to new regulations and the increased need for loan data detail that flows from point-of-sale through to secondary marketing to meet end-to-end compliance requirements," said Rob Katz, president of DMD. "We went to CCMC to help develop a tool our users need because it is the best interface provider in our industry." "CCMC is proud of its partnership with DMD and has created the DMDBridge interface to serve DataTrac users' ongoing needs with full support services and software updates," said CCMC Vice President Dana Giesler. "We are pleased that DMD users are experiencing an immediate return on investment and relief from compliance headaches." The DMDBridge has been architected to allow for additional third-party systems to seamlessly integrate to DataTrac, and CCMC is already working extensions to various serving systems. For more information, visit www.dmdinc.com or www.ccmcinc.com.
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Jul 27, 2010
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