APPLETON, Wis. — Del Mar DataTrac(R), Inc. (DMD), the leading provider of affordable mortgage lending automation solutions, and LoanSifter, the leading provider of Web-based product and pricing tools, have completed the integration of LoanSifter’s namesake product and pricing engine (PPE) with DMD’s flagship product, DataTrac. Since 1991, Del Mar DataTrac has pioneered business intelligence, document imaging and management, and loan process workflow tools to create lenders’ workflow automation solution of choice. LoanSifter provides the banking industry’s most comprehensive tools for mortgage bankers, loan officers and secondary departments to price, manage, and market loans, monitoring over 130 correspondent and wholesale lenders.
LoanSifter’s integration with DataTrac enables the transfer of borrower and loan information bi-directionally between the two systems, allowing a loan officer to create a borrower file in LoanSifter, DataTrac, or other POS / LOS. Within LoanSifter, the loan can be priced out and submitted to the lock desk. Lock Desk Managers can instantly price and re-price loans as they are being submitted to secondary, ensuring maximum revenue on every transaction. LoanSifter provides the option to automatically sync these files for changes occurring on either system, flowing bi-directionally between both systems on all updates. When this sync occurs, users from the secondary desk as well as the originators are optionally notified via email about exact updates made to the loan file.
“It is important to mortgage lenders that their mission critical systems work like a team, communicating with one another, sharing and updating data,” said Del Mar DataTrac president Rob Katz. “This integration with Del Mar DataTrac vastly improves lenders’ access to LoanSifter’s product and pricing engine and marketing services on which they rely for accurate pricing, as well as long term borrower loyalty.”
“LoanSifter’s thoughtful integration with the DataTrac platform ensures the integrity of its centralized database,” he added. “21st Century mortgage lenders place more value on data than did their predecessors, having weathered a ‘perfect storm’ caused in part by the need to translate data into business intelligence.”
Using built-in permissions, lender management also has the ability to select which users are able to sync data to DataTrac to help preserve the database of record.
“Today’s lenders require seamless, full-featured solutions that improve the quality of their data, provide better control and compliance, and deliver a competitive advantage and better profitability,” said LoanSifter president Bruce Backer. “Whether a loan starts within LoanSifter or our eOriginations POS, the integration with DataTrac delivers an automated workflow, ensuring our customers realize all of these benefits and more.”
LoanSifter supports DataTrac users’ set-up of loan programs generically or by investor, with LoanSifter pulling investor names from DataTrac investor tables to correlate loan programs in both systems. For lenders that set up their loan programs specifically by investor, LoanSifter can ensure the proper loan program and investor are populated in DataTrac on rate lock requests. LoanSifter imports loan program parameters into DataTrac. For lenders who enter their loan programs generically, LoanSifter’s import will import the loan program parameters and associate them with the appropriate loan program in the DataTrac loan program tables on a rate lock request.
The integration with LoanSifter is designed to leverage the best practice in rate lock request. Once the rate lock request has been made in LoanSifter, originators can no longer modify the pricing 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 commission engine, 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. For more information, visit www.dmdinc.com .
About LoanSifter, Inc.:
LoanSifter, Inc., provides the banking industry’s most comprehensive tools for loan originators and secondary departments to price, manage, and market loans. The company’s flagship product, LoanSifter, is an accurate, Web-based product eligibility and pricing solution providing banks, credit unions and mortgage bankers with comprehensive tools to improve their service levels and increase pull-through. LoanSifter is also the leader in delivering point-of-sale and marketing tools to loan officers, with its eOriginations POS and highly customizable Website utilities; promotional rate tables, consumer-facing search, application, credit pull, and closing doc management. Automated tools include email campaigns, custom quoting for Zillow and LendingTree, scenario-specific rate monitoring alerts, and open house flyers. For more information about LoanSifter, call 920.268.4770 or visit www.LoanSifter.com .