A Technology Response to the Great Recession
June, 2010
It’s no secret how difficult it has been for mortgage lenders to survive the credit crisis of 2008 and the Great Recession caused by lack of liquidity. The greatest impact on the average lender from the recession is a scarcity of loan volume.
In MORTECH LLC’s survey research (MORTECH annual surveys of lender use of mortgage technology), we find lenders are perfectly clear that their greatest need is to build loan production. Lender reactions to unusual conditions are pretty basic: Build by expanding their distribution capabilities—add offices and hire loan officers. Leases and laptops.
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Product Integration Supports Delivery Of Loan Closing Products
June, 2010
Del Mar DataTrac Inc. (DMD), a provider of lending automation solutions, now offers an integration developed by its document preparation partner, Document Express, that enables DataTrac users to order their initial disclosures, loan closing documents, flood determinations and high-cost loan analysis without leaving the DataTrac screen.
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Del Mar DataTrac Supports Data Extraction For Lenders, Servicers
May, 2010
Del Mar DataTrac Inc. (DMD) has added four new DataTrac ExTrac options that the company says facilitate quality control and the exchange of mortgage loan data between mortgage bankers and warehouse lenders or servicing vendors.
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For 360, tpos are the right channel
March, 2010
When 360 Mortgage Group. Austin. Texas. was created back in 2007. The founders' ideology was simple. It was looking to get into the mortgage business at a time when everybody else was leaving. explained managing director Mark Greco.
That contrarian type of thinking bas also led the firm into the wholesale channel. Prior to starting 360 Mortgage. Mr. Greco had a background witb a small retail mortgage banking comp any. In fo rming the company. its founders saw an opportunity in the downturn, to start a company, have it well funded and to throw a lifeline to people·on Uhe production side of the business.
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Making an easy transition from best efforts to mandatory
March, 2010
Mortgage bankers that want to increase their profitability and growth preparedness may wish to consider a "best efforts to mandatory" conversion of their secondary marketing efforts. "Best efforts to mandatory" conversion means transforming a lender's secondary conduit from a traditional whole-loan delivery with fallout risk held by the investor to a mandatory delivery platform with risk responsibilities retained by the lender.
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eyes on the web
February 8, 2010
If you ask Dorado CEO Dain Ehring whether it’s true that Software as a Service and cloud computing are sweeping away traditional software models for mortgage technology, he is likely to direct you to apps.gov, the government portal for cloud computing, where you will find a video clip explaining why the model is being evangelized to improve efficiency and lower costs for all government agencies.
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origination software adds compliance features
February, 2010
Del Mar DataTrac (DMD), a San Diego-based mortgage lending automation services provider, added the compliance disclosure and closing document package services of Minneapolis-based Wolters Kluwer Financial Services to its loan origination software.
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loansifter integrates with Del mar datatrac
February 5, 2010
Del Mar DataTrac Inc., San Diego, a provider of mortgage lending automation solutions, and LoanSifter, Appleton, Wis., a provider of web-based product and pricing tools, completed integration of LoanSifter’s namesake product and pricing engine with DMD’s flagship product, DataTrac.
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bay equity goes live with loan-score's integrated ppe and aus
February, 4 2010
Loan-Score Decisioning Systems, an enterprise-class pricing and automated underwriting solutions provider, announced that Bay Equity, a growing wholesale and retail mortgage banker, has gone live with its integrated decisioning solution and customer-facing Web portals to ensure pricing and underwriting accuracy, quality control and superior customer service. The solution integrates seamlessly with Bay Equity’s back office LOS.
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vendors team up to speed information flow
February, 2010
SAN DIEGO - Realizing the need for brokers to get a borrower locked into a loan as quickly and efficiently as possible, origination vendor Del Mar DataTrac Inc. here has integrated with pricing and decisioning vendor LoanSifter.
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loansifter integrates with datatrac
January 22, 2010
Del Mar DataTrac Inc. (DMD), a provider of lending automation solutions, and LoanSifter, a provider of Web-based product and pricing tools, have completed the integration of LoanSifter's namesake product and pricing engine with DMD's flagship product, DataTrac.
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Catching Fraudsters
January, 2010
As fraudsters come up with new ways to commit crime, mortgage lenders must also come up with new ways to thwart their efforts. David Green, president of The StoneHill Group, says, “The most pressing technology that lenders need is to introduce automated fraud detection in their process. We need to present information in a format that they can easily use.
I was at a presentation, which talked about the integration of all the various tools into a useable product through a joint agreement between MERS and Interthinx. MERS has a lot of real-time data. We did a lot of MERS integration. Similarly, we’ve evolved into making ourselves a technology company that provides data back to clients. We will be a user of MERS/Interthinx technology to provide quality control.”
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Integration furthers fha Automation
January 14, 2010
IRVINE, CA-Origination vendor Del Mar DataTrac Inc. and Loan-Score Decisioning Systems, a pricing and automated underwriting provider here, have tightened the integration of their respective products in a bid to help originators automate the Federal Housing Administration approval process.
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