Magazine article Mortgage Banking

DMD DataTrac Integrates LOS with Fannie's EarlyCheck

Magazine article Mortgage Banking

DMD DataTrac Integrates LOS with Fannie's EarlyCheck

Article excerpt

Del Mar DataTrac Inc. (DMD), San Diego, a provider of affordable end-to-end mortgage lending automation solutions, has completed the integration of its rules-based workflow automation platform, DataTrac, with Fannie Mae's EarlyCheck[TM] service. The EarlyCheck integration is included in DataTrac release 9.3R3, which was available for mortgage lender implementation beginning Oct. 28, 2010.

According to Fannie Mae, its EarlyCheck "assists lenders in identifying and correcting potential eligibility and/or data issues as early in their processes as possible. The goal is to help lenders identify potential problems prior to loan delivery."

The DataTrac integration allows lenders to access EarlyCheck prior to loan closing via a Desktop Underwriter[R] (DU[R])-like integration. The loan file is delivered electronically to Fannie Mae and the GSE's response is displayed back in DataTrac.

"Fannie Mae's Loan Quality Initiative is designed to move the industry forward by removing many of the problems that have plagued us over the past several years," said DMD President Rob Katz. …

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