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.
DataTrac ExTrac was developed by DMD in the first quarter of this year to streamline the funding process with Comerica, Texas Capital Bank and FiservWireXchange, as well as to support the servicing process with Dovenmuehle Mortgage Inc., the company says The funding ExTracs are designed to send data from the DataTrac central database to warehouse lenders before funds can be disbursed. For servicing, ExTracs are designed to transfer loan data to a servicing system.
DataTrac ExTracs can perform a quality-control check against defined vendor requirements and translate the data in a required format to the other system, DMD explains.
SOURCE: Del Mar DataTrac