San Diego, Nov. 27, 2006 – Del Mar Database (DMD), a business unit of Fiserv Inc. (Nasdaq: FISV), has launched DocumentTrac™ Standalone, an electronic document management (EDM) solution that empowers a lender’s organization with a comprehensive solution for the imaging, filing, retrieval and distribution of all documents associated with a loan file. DocumentTrac Standalone can be integrated with a lender’s existing mortgage banking system to increase their overall efficiency and profitability.
DocumentTrac Standalone enables small to medium-size lenders to simultaneously share real-time loan files electronically. The solution provides the entire organization the ability to quickly view the status of a loan file to determine which documents are completed and which ones are outstanding. Beyond the loan file, the solution can also be used to manage any imaged document across an organization (e.g., human resources, legal, compliance).
A lender using DocumentTrac Standalone will instantly realize a positive impact in document shipping, reducing the profitability risk normally associated with the tedious task of shipping files. The solution can be programmed with the specific stacking order requirements for each investor used by the lender and instantly alert a shipper of an incomplete loan package prior to delivering the file. Further, depending on the investor’s preferences, DocumentTrac Standalone can deliver the virtual copy package electronically.
Dana Capital Group, based in Irvine, Calif., is a nationwide mortgage lender with both retail and wholesale operations. The company implemented DocumentTrac Standalone in July and has since experienced overall reduced costs and increased efficiency throughout the organization.
“We were looking for a document imaging solution that could easily and cost-effectively integrate with our existing system,” said Myron Miller, vice president of Information Technology for Dana Capital Group. “DocumentTrac Standalone matched our business needs with the flexibility to seamlessly integrate our existing copier and scanner, which saved us both time and money. DocumentTrac enables small and medium-size lenders to better compete with larger lenders, and we have been able to take advantage of electronic imaging without disrupting our current organizational structure.”
DocumentTrac Standalone empowers lenders to leverage their existing technology to reduce costs and increase efficiency across all departments. Del Mar Database has delivered a solution that enables all lenders, regardless of technology preference, to benefit from electronic imaging. DocumentTrac was designed to provide robust, user-friendly technology for document acquisition, filing, retrieval and shipping.
“DocumentTrac has been one of our most successful solutions over the last couple of years,” said Rob Katz, executive vice president of Del Mar Database. “DocumentTrac is well received by the lending community for its proven ROI. Lenders recuperate their investment in a couple of months and from that point forward it’s pure profit. Many lenders, for one reason or another, aren’t in a position to migrate to DataTrac. Allowing these mortgage bankers on different loan origination systems to use DocumentTrac gives them the advantage of the market-leading electronic document management solution.”
About Del Mar Database
San Diego-based Del Mar Database, a wholly owned subsidiary of Fiserv Inc.
(Nasdaq: FISV), introduces new technologies to lenders of all sizes that leverage their existing tools to improve efficiencies, increase profitability, and increase pipeline capacity. The company's proprietary software solution, DataTrac, enables lenders to reduce costs, generate greater profits per loan, minimize errors using business intelligence, and fund more loans with fewer people. Founded in 1991, the company's customers include mortgage lenders, brokers becoming lenders, credit unions, and community banks. For more information, visit www.delmardb.com.
