DALLAS, Texas, May 7 (SEND2PRESS NEWSWIRE) — Del Mar DataTrac®, Inc. (DMD), the leading provider of affordable end-to-end mortgage lending automation solutions, and an industry pioneer in business intelligence, document imaging and management, and loan process workflow tools, collaborated with the North Collin County Habitat for Humanity chapter in McKinney, TX, by providing its DataTrac Originator point of sale (POS) system which includes powerful tools to help capture borrower commitments quickly and easily to support the organization’s affordable home ownership initiatives.
Founded in 1992, Texas-based North Collin County Habitat for Humanity is a Habitat International affiliate currently building homes in McKinney, Frisco, Celina, Princeton and Melissa and also serving Prosper, Anna, Farmersville, Weston and unincorporated areas in the Northern County. As of January 2010, North Collin County Habitat for Humanity has overseen building and financing for 59 homes in its communities, and 24 homes overseas. On average the affiliate built a house every month in 2009, typically involving its “partner families” in elements of construction and financing.
“We have been exceptionally pleased to use part of the DataTrac automated loan processing solution, since we typically have completed the mortgage process with our partner families by hand,” said executive director Celeste Faro. “We needed to become more disciplined in our approach, as our opportunities to offer financing have expanded.”
Since it began using its DataTrac Originator license on a single dedicated laptop in 2008, North Collin County Habitat for Humanity has processed ten families’ mortgage documents, down payment assistance, and secondary loans including “bootstrap” funding from the State of Texas and HOME, the Federal block grant for state- and locally-administered housing programs. As many as 20 – 25 forms and documents are required to process the loans Habitat for Humanity arranges for its homeowner partners.
“Using DataTrac Originator’s custom docs has been a godsend that allows us to work with and submit myriad documents in a more specialized way than we have in the past,” said Faro.
North Collin County Habitat for Humanity attributes its ability to secure eight grants for eight families totaling more than $200K during a late 2009 round of first-come first-serve funding to its preparedness for quickly completing the online 1003 mortgage application with DataTrac Originator.
According to Faro, the affiliate’s use of DataTrac created the following additional benefits:
• Saves time due to document data consistency;
• Creates professional image for custom documents;
• Enables volunteers to more easily transfer into lending responsibilities; and
• Centralizes partner family information on a single computer.
“DMD is proud of the work done by Habitat for Humanity internationally and at the grassroots community level where deserving families benefit not only by receiving assistance, but by participating in their own journey to home ownership,” said DMD president Rob Katz. “We are gratified that the same software used by hundreds of our mid-sized mortgage lender customers has benefited an organization that creates affordable opportunities to families one home at a time. We look forward to any opportunity to make a meaningful contribution to Habitat for Humanity.”
About Del Mar DataTrac:
Founded in 1991, Del Mar DataTrac (DMD) is the leading provider of affordable loan automation solutions for mortgage lenders, banks, and credit unions. DMD offers a scalable workflow platform that enables lending best practices by leveraging DataTrac as the back-office hub along with a sophisticated point-of-sale system, a web-based originator portal and commission engine, and a management dashboard – all in a paperless environment.
The DataTrac Suite is designed by mortgage lenders for mortgage lenders who strive to deliver extraordinary customer service, increase production and profitability, reduce risk, and streamline overall efficiency. For more information, visit www.dmdinc.com.
About North Collin Habitat for Humanity:
Habitat for Humanity International is a nonprofit, ecumenical Christian housing ministry. HFHI seeks to eliminate poverty housing and homelessness from the world, and to make decent shelter a matter of conscience and action. Habitat invites people of all backgrounds, races and religions to build houses together in partnership with families in need.
North Collin County Habitat for Humanity started in 1992 as McKinney Habitat for Humanity, an affiliate of Habitat International. In 2002, scope expanded to include North Collin County, so the name was changed to North Collin County Habitat for Humanity, Inc. The affiliate currently builds homes in McKinney, Frisco, Celina, Princeton and Melissa and also serves Prosper, Anna, Farmersville, Weston and unincorporated areas in the Northern County. 59 homes have been built as of May 2010, and 24 homes overseas. For more information contact: Celeste Faro, Executive Director, at 972-542-5300 x 100 or email@example.com.
News issued by: Del Mar DataTrac
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Original Story ID: (5916) :: 2010-05-0507-003
Original Keywords: Del Mar DataTrac Inc, mortgage lending automation solutions, Texas-based North Collin County Habitat for Humanity is a Habitat International affiliate, affordable home ownership, datatrac originator, 1003 mortgage application, rob katz, software, SaaS, TX, Celeste Faro Del Mar DataTrac Dallas Texas DALLAS, Texas
Alternate Headline: DataTrac Tools Help Texas Habitat for Humanity Advance Affordable Home Ownership
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News Source: Del Mar DataTrac