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DataTrac Expands Open Platform to Include Pricing, Eligibility, and AUS Providers
SAN DIEGO-(Business Wire)-June 18, 2008 - Del Mar DataTrac(R), Inc. has expanded its open platform approach and is now integrating with leading providers in the product and pricing eligibility (PPE) and automated underwriting space, and has decided to discontinue its PPE solution, PriceTrac. Del Mar DataTrac provides solutions that empower small- and medium-sized mortgage bankers to deliver extraordinary customer service and drive up production while reducing risk, increasing productivity and streamlining their overall efficiency.
"Loan pricing and decisioning are complex problems to solve through automation," said Rob Katz, president of Del Mar DataTrac. "Across our hundreds of clients, we've seen some who need a quick eligibility check, while others are looking for a comprehensive automated approval that returns conditions. By offering PriceTrac, we were limiting some of our customers' ability to deploy a comprehensive solution that supported their business needs."
"There are a handful of companies in the industry that provide excellent solutions in the PPE and AUS space," said Gregg Holsapple, vice president of Product and Technology for Del Mar DataTrac. "We are better serving our clients by ensuring those other systems can integrate their solutions to our core lending platform, DataTrac."
The underlying technology for PriceTrac was provided by Merit Matrix, a company recently acquired by AllRegs, and Mortech. Del Mar DataTrac's clients that were subscribing to PriceTrac are now working directly with Mortech. "By dropping out of the middle between the lender and the content provider, our clients are going to experience a higher level of support for this PPE tool," said Hoslapple.
In addition to working with AllRegs and Mortech, Del Mar DataTrac now has development agreements with several of the industry's leading PPE solutions, including Optimal Blue, Nylx, and Sollen Technologies. For those clients seeking a PPE coupled with a comprehensive automated underwriting system (AUS) system, development agreements have been executed with Loan-Score Decisioning Systems and PriceMyLoan.
"We believe that the most effective strategy for our customers is to let them select the best pricing and decisioning platform that meets each of their business needs, and then to help those providers plug into our applications to support a seamless workflow," said Katz. "As a result, we are now working closely with these solution providers to ensure they are able to provide systems that work well for our customers."
"Our product focus," said Holsapple "is to continue to extend the depth of value we bring to a lender's core business: processing, underwriting, closing, secondary, and post-closing. For the past 17 years, these are the areas where we have proven to be the industry leader."
"We plan to continue to work aggressively with vendors across the entire mortgage banking space to offer capabilities that can further enhance DataTrac customers' experience," said Katz.
About Del Mar DataTrac
San Diego-based Del Mar DataTrac provides mortgage bankers of all sizes with technologies that leverage existing tools to improve customer service and operational efficiencies, while increasing profitability. The company's proprietary flagship solution, DataTrac(R), empowers 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, credit unions, and community banks. For more information, visit www.delmardb.com.
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