Vendors connect to industry with regulatory compliance education
Janury 26, 2011
Dallas-based MRG Document Technologies recently sent staff to Wisconsin to educate members of the Credit Union Real Estate Network about the implications of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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Mortgage Bytes - Tech Buzz
November 4, 2010
One of the most wideley voiced frustrations of tech providers and lenders alike is the Internal Revenue Service's wet signature requirement on the Request for Transcript of Tax Return, commonly known as Form 4506-T. E-signatures have been legally binding in the U.S. for a decade and orginiators want the ability to submit 4506-Ts with e-signature.
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Technology can play a big role in restoring liquidity
July 29, 2010
As pure-play mortgage lenders continue to scramble to get warehouse lines, technologists say automation can help.
Rob Katz, president at LOS Del Mar Database, contends, "The entity giving a warehouse line has to be confident that their partners are doing sound lending. How do you prove that if you don't have technology in place? Because there are so few sources for lines and they're restrictive, being able to demonstrate that you have the technology to move a loan through the pipeline quickly and efficiently is an advantage.
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Del Mar DataTrac partners with CCMC on regulatory compliance solution
July 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.
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Del Mar DataTrac, CCMC team on connectivity tool
July 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.
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A FHA Policy shift stokes lenders' demand for brokers
July 13, 2010
The Federal Housing Administration's efforts to shift the burden of supervising mortgage brokers to lenders is creating a mini-boom in demand for brokers to bring in homebuyers and refinancing customers.
Some observers had warned that the plan would drive brokers from the lending process. Instead, many lenders ahve already come up with guidelines to recruit and oversee them and are actively looking to hire
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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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