SAN DIEGO, CA and IRVINE, CA -- 07/08/08 --
Loan-Score Decisioning
Systems, an emerging leader in enterprise-class
pricing and
automated
underwriting solutions, and Del Mar DataTrac® (DMD), an established
loan origination and processing system, announced today that they have
completed an enhanced nine-point seamless integration between Loan-Score's
automated underwriting system (AUS) and DMD's mortgage banking automation
solution
DataTrac®.
The integration is bi-directional and enables the two systems to
automatically talk to one another, updating conditions and loan-level
status in real-time using advanced Web services. Loan-Score's Web-based
pricing engine and AUS serves as the point-of-sale decisioning
solution, while DataTrac remains as the core system of record and
workflow management solution for the fulfillment process.
The integration is already in production with several of the two technology
firm's mutual clients and others are scheduled to go live shortly.
"Seamless, reliable integration is the cornerstone of any sound technology
marriage between different vendors," said Steve Pavlos, CIO of Pinnacle
Capital Mortgage -- a Loan-Score and DataTrac customer. "I have seen a lot
of really good technologies throughout my career, but unless integration is
achieved, you'll never realize true efficiency. The tight integration
between Loan-Score's POS and DataTrac's LOS was the single most important
factor in our decision to engage with them."
"As Web services gain greater adoption, an increasing number of
opportunities present themselves for best-of-breed technology vendors to
work together to enhance their solution offerings and deliver more value,"
said David P. Colwell, executive vice president at Loan-Score. "Poor
integrations in the mortgage industry force lenders to use disparate
systems that fail to talk to each other, require multiple user log-ins, and
sub-optimizes speed and ease of use. By way of transparent integration,
Loan-Score and DataTrac have removed many of the communication headaches
for front and back office staff. DMD's technology, knowledgeable staff and
market share drove Loan-Score's development of the seamless integration;
cementing our relationship in the form of a partnership made a lot of
sense."
"I'm very excited about the integrated solution Loan-Score has brought to
the market. In today's world of limited loan program varieties, a lender
must be able to provide clearly differentiated customer service to their
originators and borrowers," said Rob Katz, president of Del Mar DataTrac.
"Loan-Score's instant approval solution is a tool that will certainly
catapult their customers to the head of the pack when it comes to not only
providing high quality customer service, but also with real time
decisioning and pricing. The integration to DataTrac eliminates duplicate
data entry, and empowers a best practice workflow that will be seen
directly on the lender's bottom line."
Web-based
demonstrations of the integration between Loan-Score and DataTrac are
available to lenders who want to see how the POS and LOS exchange and
populate data between the systems.
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®, 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.
About Loan-Score Decisioning Systems
Founded in 2000 and headquartered in Irvine, California, Loan-Score
Decisioning Systems, offers a true, enterprise-class AUS and product/pricing engine available
on a software-as-a-service (SaaS) and also a self-hosted basis for all
lending channels and product types. Loan-Score maintains a comprehensive,
up-to-date library of investor guidelines and rates to ensure eligibility
is met and market conditions are adjusted to deliver precision-based
underwriting that results in fundable loans. The company's solutions are
engineered to deliver swift, cost-effective implementations that integrate
with existing LOSs and avoid inflexible programming efforts and high
maintenance costs. Loan-Score's solutions are in production with small,
medium and large lending institutions. For more information, visit
www.loan-score.com or call 949-450-0102.
CONTACTS:
Kristol Gallaher
Del Mar DataTrac
858.550.8810, ext. 129
Email Contact
Joe Bowerbank
Loan-Score Decisioning Systems
949.450.0102, ext. 204
Email Contact
