Del Mar Database Unit of Fiserv Offers MERS Integration to DataTrac; Integration between Industry Leaders Eliminates Redundant Data Entry and Errors.SAN DIEGO -- Del Mar Database (DMD (1) (Digital Micromirror Device) See DLP. (2) (Digital Multi-layer Disk) See high-def DVD formats. ), a unit of Fiserv, Inc. (Nasdaq: FISV FISV Fiserv, Inc (stock symbol) ), has introduced the integration of MERS MERS Municipal Employees Retirement System (Michigan) MERS Mortgage Electronic Registration System MERS Microwave Earth Remote Sensing (Laboratory, Brigham Young University) MERS Mobile Emergency Response Support (Mortgage Electronic Registration System) to its flagship software program, DataTrac(R). Del Mar Database provides software solutions that enable small- and medium-sized lenders to drive up production while reducing risk, increasing productivity, and streamlining their overall efficiency. MERS enables mortgage lenders to record it as the mortgagee mortgagee n. the person or business making a loan that is secured by the real property of the person (mortgagor) who owes him/her/it money. (See: mortgage, mortgagor) MORTGAGEE, estates, contracts. He to whom a mortgage is made. of record (as nominee for the lender) in county land records, and thereafter to electronically track changes in servicing and beneficial ownership rights over the life of the loan. The seamless integration is made possible through Del Mar Database's Vendor Services Platform (VSP VSP - Very Simple Prolog+. ). Del Mar Database's VSP will expedite the transaction process with MERS by eliminating nearly all manual data entry and adding instant confirmation or error responses. Customers will be able to register loans instantly, directly out of DataTrac. In addition, VSP supports Transfer and Deactivation de·ac·ti·vate tr.v. de·ac·ti·vat·ed, de·ac·ti·vat·ing, de·ac·ti·vates 1. To render inactive or ineffective. 2. To inhibit, block, or disrupt the action of (an enzyme or other biological agent). 3. transactions, also directly out of DataTrac. Because MERS remains the nominal mortgagee despite the number of times the servicing is traded, loans registered in the system are inoculated against the need for future assignments. "Del Mar Database is committed to consistently offering innovative, ROI-based solutions to small- to medium-sized lenders to enable them to compete with larger lenders," said John Walsh, president of Del Mar Database. "As the mortgage industry's de facto standard Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, for electronic title registration, the MERS system is a necessity for mortgage lenders. This integration eliminates a tedious process that impacts practically every loan funded today and enables Del Mar Database customers to reduce risk, increase efficiency, and increase productivity through a more refined and streamlined transaction process." "The integration of MERS into DataTrac will greatly enhance ease of use and add value to DataTrac through the elimination of manual data entry," said Dan McLaughlin, executive vice president of MERS. "We applaud Del Mar Database in their decision to integrate MERS into DataTrac." DataTrac is Del Mar Database's lending automation solution that empowers lenders to increase production, control costs, improve efficiency, reduce risk and maximize profitability. VSP allows lenders to order third-party services from within DataTrac and incorporate request results directly into the system without the need to rekey Rekeying is the process of changing a lock's tumblers to work on a different key than the current one. Though often referred to as 'changing a lock', rekeying does not require replacement of the lock itself, but resetting the tumbler combination to fit a different key. data, improving data quality, increasing production and reducing errors. "Del Mar Database recognizes the importance of providing its customers with the most competitive solutions," said Megan Rhodes, vice president of operations at Alternative Financing Corporation Financing Corporation (FICO) A government agency chartered in 1987 to bail out the Federal Savings and Loan Insurance Corporation (FSLIC) by issuing bonds. . "Through the integration with MERS, we are able to process loans faster, allowing us to focus our resources in other areas." About Del Mar Database San Diego-based Del Mar Database, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Fiserv, Inc. (Nasdaq: FISV), introduces new technologies to lenders of all sizes that leverage their existing tools to improve efficiencies, increase profitability, and increase pipeline capacity. The company's proprietary software solution, DataTrac(R), enables 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, brokers becoming lenders, credit unions, and community banks. For more information, visit www.delmardb.com. About Fiserv, Inc. Fiserv, Inc. (Nasdaq: FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in , software, and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions, and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management, and BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com. About MERS MERS was created by the mortgage banking industry to streamline the mortgage process by using electronic commerce to eliminate paper. Beneficiaries of MERS include mortgage originators, servicers, warehouse lenders, wholesale lenders, retail lenders, document custodians, settlement agents, title companies, insurers, investors, county recorders, and consumers. MERS acts as nominee in the county land records for the lender and servicer. MERS as original mortgagee (MOM) is approved by Fannie Mae, Freddie Mac, Ginnie Mae, FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). and VA, California and Utah Housing Finance Agencies, as well as all of the major Wall Street rating agencies. |
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