SAN DIEGO, Calif. — Del Mar DataTrac(R), Inc. (DMD), the leading provider of affordable mortgage lending automation solutions, and Loan-Score Decisioning Systems, an enterprise-class pricing and automated underwriting provider, announce the release of an enhanced Loan-Score product integration with DataTrac version 9.1. This extended seamless integration improves operational efficiency, process transparency and communication for lenders, banks and credit unions.
Loan-Score originally integrated its Web-based product and pricing engine (PPE) and automated underwriting system (AUS) to DataTrac in 2008. This newly enhanced platform automatically facilitates real time customer-to-lender communication, handles underwriting, and drives workflow from the point of sale (POS) to the lender’s back office.
Originators manually enter or upload a 1003 in Loan-Score’s Web portals which automatically pushes the data into DataTrac including all product and pricing results, loan-level pricing adjustments and conditions, including select DU findings, lender-specific conditions and FHA Scorecard messaging. Automatic status updates are provided through every step of the loan approval and funding process. A new bi-directional comment routing log facilitates a more structured workflow management process.
One of the primary benefits of the integration is the ability for lenders on DataTrac to access the FHA TOTAL Scorecard via an interface with Loan-Score’s AUS. DataTrac calls a Web service to Loan-Score’s AUS which then connects to Scorecard to return an FHA underwriting decision within DataTrac that accompanies a certification and is insurable by the FHA’s homeownership centers.
“What Loan-Score and DataTrac have accomplished is a much needed level of visibility and communication that keeps our loan officers and underwriters in the know every step of the way,” said Kevin Marconi, COO of United Fidelity Funding and a mutual Loan-Score and DMD client. “This has translated into our quality of underwriting and accountability being dramatically improved, and our underwriting times being significantly reduced. As a result, we’re able to turn our warehouse lines twice as fast, which has increased our lending capacity considerably. And Loan-Score’s new interface to FHA TOTAL Scorecard will save time and thousands of dollars to decision FHA loans, which is a big part of our business.”
“This robust integration between DataTrac 9.1 and Loan-Score’s suite of powerful automated underwriting solutions affirms DMD’s focus on developing a lending platform that empowers lenders to transform their business,” said Del Mar DataTrac president Rob Katz. “We are pleased to work with an integration partner like Loan-Score that shares our commitment to helping lenders make meaningful improvements to their operations through seamless process automation.”
“Both DMD and Loan-Score are proponents of tightly integrating best-of-breed technologies to offer more value than the undelivered promise of end-to-end platforms that purport do it all, but are actually weak in certain areas,” said David P. Colwell, executive vice president at Loan-Score. “Given the openness of DataTrac’s architecture, deepening our existing integration with them was simply a matter of strengthening our Web services approach and taking advantage of new functionality offered in 9.1.”
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.
For more information, visit www.dmdinc.com .
About Loan-Score:
Founded in 2000 and headquartered in Irvine, California, Loan-Score Decisioning Systems offers clients a full suite of decisioning solutions to satisfy their individual needs from small, medium and large production and servicing organizations. The modular suite includes a product and pricing engine (PPE), automated underwriting system (AUS), portfolio analysis engine (PAE), channel focused point-of-sale (POS) Web portals, a system-to-system integration bridge and more. Loan-Score maintains a comprehensive, up-to-date library of investor guidelines and pricing to ensure eligibility is met and market conditions are adjusted to deliver precision-based underwriting that results in fundable and saleable loans. Our solutions are engineered to deliver swift, cost-effective implementations that integrate with existing LOSs. Clients can choose between software-as-a-service (SaaS) and self-hosted technology models.
For more information, visit www.loan-score.com or call 949-450-0102.
