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Del Mar DataTrac and Wolters Kluwer Financial Services team to reduce lenders' regulatory compliance burden.

Del Mar DataTrac, San Diego, a provider of mortgage lending automation solutions, announced that Minneapolis-based Wolters Kluwer Financial Services' home loan application disclosures and closing documents are now available from within DMD's DataTrac [R] loan origination solution.

DMD's DataTrac customers now have seamless, electronic access to Wolters Kluwer Financial Services' VMP [R] Mortgage Solutions compliance disclosures and closing document packages through the company's Document Preparation Platform.

With the integration to Wolters Kluwer Financial Services' Document Preparation Platform, users of DMD's DataTrac solution have the ability to generate standard and customized initial disclosures and closing documents. Because Wolters Kluwer Financial Services' platform generates the necessary compliance documentation on behalf of DMD's lenders, it can reduce the regulatory requirement burden associated with determining which documents are required for a specific transaction and jurisdiction.

"Partnering with Wolters Kluwer Financial Services allows DMD to give the hundreds of mortgage lenders, banks and credit unions that use DataTrac the benefit of accessing these accurate and up-to-date compliance documents without disrupting their lending workflow," said Rob Katz, president of DMD.

"We're excited about the opportunity to provide a greater number of financial institutions with access to our disclosures and closing packages through our new alliance with DMD," said Jason Marx, Wolters Kluwer Financial Services' vice president and general manager, mortgage. "DMD's DataTrac users can rest assured the compliance content within our documents is built upon nearly 40 years of regulatory expertise and experience in the mortgage industry."

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Title Annotation:TechNewz
Comment:Del Mar DataTrac and Wolters Kluwer Financial Services team to reduce lenders' regulatory compliance burden.(TechNewz)
Publication:Mortgage Banking
Article Type:Brief article
Date:Jan 1, 2010
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