Thu, 17 Mar 2011, 12:59:00 EST
Edited by Debra Tone
SAN DIEGO, Calif. (SEND2PRESS NEWSWIRE) -- Del Mar DataTrac (DMD), the leading provider of affordable mortgage lending automation solutions, and an industry pioneer in business intelligence, paperless lending, and loan process workflow tools, will exhibit and demonstrate its DataTrac Originator (DTO) mortgage lending point-of-sale solution at the 2011 ICBA National Convention in Orlando, FL this week.
SAN DIEGO, Calif., March 17 (SEND2PRESS NEWSWIRE) -- Del Mar DataTrac(R) (DMD), the leading provider of affordable mortgage lending automation solutions, and an industry pioneer in business intelligence, paperless lending, and loan process workflow tools, will exhibit and demonstrate its DataTrac Originator (DTO) mortgage lending point-of-sale solution at the 2011 ICBA National Convention in Orlando, FL this week. DMD will occupy space #628.
"Community bank mortgage lenders contributed significantly to the research and development of DataTrac Originator, which is one of the reasons it is being so well received by mortgage lenders across the board," said DMD president Rob Katz. "Since 2010 RESPA changes and the issuance FNMA's LQI standards have made it clear that mortgage lending production begins at point-of-sale, we extended the industry standard performance of our DataTrac product to POS with DataTrac Originator."
"Community bank mortgage lenders are the future of mortgage lending," Katz said. "They are a source of stability and are as a whole good reference points for independent mortgage banking businesses that are looking for model operations. In our 20th year serving the mortgage industry, Del Mar DataTrac is grateful to its community bank clients and values highly their role in the market."
Formerly referred to as InTrac, DataTrac Originator is a SQL-based version of the popular loan originator POS solution, with all loan and configuration data stored in a SQL database rather than the flat file system used by most of the leading POS tools available. According to Katz, DMD's DataTrac Originator includes field-level security and extensive business rule configurations that ensure a company's policies are being adhered to from the onset at the point-of-sale.
"In light of new regulations and compliance nightmares, the point-of-sale has become a pain point for community bank mortgage lenders," said DMD vice president for client services Sue Sroka. "Community banks understand that the loan process can't be perfect if it starts with application and disclosure errors. We solve this problem in an intuitive, user-friendly manner so originators can continue to focus on production."
About Del Mar DataTrac:
Marking its 20th business anniversary in 2011 and with more than $2 trillion in mortgage loans funded through DataTrac since its inception, Del Mar DataTrac (DMD) is the leading provider of affordable loan automation solutions for mortgage lenders, banks, and credit unions.
NEWS SOURCE: Del Mar DataTrac
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