Del Mar DataTrac and Wolters Kluwer Financial Services Team to Help Mortgage Lenders Reduce Regulatory Compliance Burden
Pair Integrates Solutions to Offer DataTrac Users Access to Compliance Documents Relied Upon by Lenders for Nearly Four Decades
Minneapolis, MN. and San Diego, CA. December 9, 2009 – Del Mar DataTrac® (DMD), a leading provider of affordable mortgage lending automation solutions announced today that Wolters Kluwer Financial Services home loan application disclosures and closing documents are now available from within DMD’s DataTrac loan origination solution.
DMD’s DataTrac customers now have seamless, electronic access to Wolters Kluwer Financial Services’ VMP Mortgage Solutions compliance disclosures and closing document packages through the company’s Document Preparation Platform. Financial institutions have counted on the documents within the platform to help meet state and federal regulatory requirements for nearly four decades.
With the integration to Wolters Kluwer Financial Services’ Document Preparation Platform, users of DMD’s DataTrac solution have the ability to generate standard and customized initial disclosures and closing documents. Because Wolters Kluwer Financial Services’ platform generates the necessary compliance documentation on behalf of DMD’s lenders, they can reduce the regulatory requirement burden associated with determining which documents are required for a specific transaction and jurisdiction.
“Partnering with Wolters Kluwer Financial Services allows DMD to give the hundreds of mortgage lenders, banks and credit unions that use DataTrac the benefit of accessing these accurate and up-to-date compliance documents without disrupting their lending work flow,” said Rob Katz, president of DMD.
“We’re excited about the opportunity to provide a greater number of financial institutions with access to our disclosures and closing packages through our new alliance with DMD,” said Jason Marx, vice president and general manager, Mortgage. “DMD’s DataTrac users can rest assured the compliance content within our documents is built upon nearly 40 years of regulatory expertise and experience in the mortgage industry.”
Competitively priced, Wolters Kluwer Financial Services initial home loan disclosures and closing document packages are available to order through the DMD’s DataTrac solution immediately. To learn more about DataTrac and to request a product demo, please visit www.dmdinc.com.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.
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 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.
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