Del Mar DataTrac Integrates with QuestSoft in VSP 2.0.Enhanced Vendor Platform Offers Integration to Leading Compliance Software Provider SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Del Mar Del Mar is the name of several places in the United States of America:
A city of southern California southeast of Santa Ana. Population: 33,600. , Calif.-based QuestSoft in the newest release of its Vendor Service Platform (VSP VSP - Very Simple Prolog+. 2.0). 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. Del Mar DataTrac's VSP 2.0 is a browser-based extension to DataTrac, the company's flagship loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. software program. The platform offers seamless two-way integrations between a lender's database of record and vendor systems. Additionally, VSP 2.0 also includes a new seamless integration into QuestSoft's Compliance EAGLE service, as well as extensive enhancements to its existing integration with the DocMagic loan documents service. The platform expedites the transaction process by eliminating nearly all manual data entry into a vendor's system. It also provides instant feedback from the vendor directly to DataTrac. Since the information source for each transaction is originating in DataTrac, VSP 2.0 ensures that the vendor is working with the same data that is present on the user's desktop. QuestSoft's Compliance EAGLE evaluates a file against a comprehensive suite of compliance regulations and standards including Home Mortgage Disclosure Act (HMDA HMDA Hexamethylene Diamine (chemistry) HMDA Hitchhiker Motorized Door Assembly HMDA High Mobility DGM Assemblage HMDA Home Mortgage Disclosure Act of 1974 ), Community Reinvestment Act Community Reinvestment Act (CRA) Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. (CRA See Community Reinvestment Act. ) and flood determination requirements, as well as Truth in Lending Act The Truth in Lending Act is contained in Title I of the Consumer Credit Protection Act (15 U.S.C.A. § 1601 et seq.). The CCPA is designed to assure that every customer who needs Consumer Credit is given meaningful information concerning the cost of such credit. (TILA TILA Truth In Lending Act ), federal, state and local consumer and predatory lending laws. For many of these services, QuestSoft uses the Mavent Expert System, the same system used by many of nation's largest lenders, conduits and Wall Street firms. Customers can order QuestSoft's compliance reviews directly through DataTrac, instantly receiving complete responses, which can be analyzed and saved within their database of record. The ability to quickly process and analyze compliance results ensures real-time, pinpoint accuracy with all regulations and standards for DataTrac clients. "By reviewing federal, state and local regulations, lenders and investors have more confidence that they have reduced litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and regulatory risk," said Leonard Ryan, president of QuestSoft. "Lenders using Compliance EAGLE through DataTrac can prevent post-closing buybacks, legal actions or penalties because the lender can locate and correct errors prior to funding the loan. Additionally, investors are far more comfortable purchasing the loans because the system ensures compliance with all new regulations." "Our goal is to provide DataTrac customers with the absolute best in technology and service that the mortgage industry has to offer," said Rob Katz, president of Del Mar DataTrac. "With VSP 2.0, our lender customers can easily leverage DataTrac to provide a convenient, cost efficient lending environment that provides exceptional customer service and attracts the best origination talent in the industry." 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. About QuestSoft Laguna Hills, Calif.-based QuestSoft is a compliance-software development firm specializing in the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), flood determination and complete automated compliance management to more than 1,500 banks, credit unions and mortgage companies nationwide. In addition, the company has received recognition for its many technological accomplishments. For more information about QuestSoft and its products, visit the company's Web site at www.questsoft.com. |
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