Multi-state lender utilizes electronic imaging platform to reduce
paper flow, costs
SAN DIEGO--(Business Wire)--
Del Mar DataTrac(R), Inc. announced today that Flanders,
N.J.-based American Federal Mortgage Corp. has implemented the
company's electronic imaging platform, DocumentTrac(TM). 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.
The DocumentTrac platform is enabling American Federal Mortgage to
join the ranks of paperless lenders emerging across the country. From
underwriting, through funding and shipping, to long-term file
retention, they are working with images on a monitor instead of paper
files. A current user of the DataTrac platform, American Federal
Mortgage selected DocumentTrac to help increase their overall
efficiencies while eliminating the amount of paper used and stored
within its office. As a lender operating in multiple states through
one central office, the company's business model relies on its ability
to keep costs low while maintaining excellence in customer service in
order to provide competitive rates for its customers. DocumentTrac is
a key tool for their success.
"We have been very happy with the DataTrac platform and the level
of service we have received since becoming a customer. Therefore, when
we decided to invest in a document imaging system, DocumentTrac was
the first one we looked at," said Mark T. Young, president of American
Federal Mortgage. "From an efficiency standpoint, the system's
delivery capabilities are an excellent fit for our paperless workflow
goals. From a technology standpoint, the ability to seamlessly
integrate with our existing system was key, as we wanted to limit the
amount of time and effort spent on implementation."
DocumentTrac enables lenders to share documents electronically
between branches, brokers, and investors quickly and freely, while
reducing labor and delivery costs. The platform also reduces storage
costs, while enabling easy, secure retrieval.
"Because we run a low-overhead, multi-state operation, we have
employees who work remotely and have little room for document
storage," said Robert Bakerian, senior vice president of American
Federal Mortgage. "With DocumentTrac, we can store documents in a
manner that is even more secure, where they can be retrieved from
anywhere. From a disaster recovery perspective, I'm sleeping better at
night now, too."
"Efficient, technology-savvy lenders such as American Federal
Mortgage understand that in the current industry environment, the only
way to operate profitably is to limit costs," said Rob Katz, president
of Del Mar DataTrac. "Our product suite is designed to make every
aspect of loan processing and fulfillment more efficient, resulting in
lower costs, less errors and higher profits. Additionally, the instant
access to any loan document will empower American Federal to achieve
customer service levels that will drive up their referral and repeat
business. As we continue to invest in Del Mar DataTrac's core
products, such as DocumentTrac, our customers will see an even greater
return on investment."
About American Federal Mortgage Corp.
American Federal Mortgage is one of the largest privately held
mortgage bankers in the nation. Since its incorporation in 1986, the
company has dedicated itself exclusively to mortgage lending. American
Federal Mortgage is a direct lender, not a broker, underwriting and
closing loans directly with the consumer.
An Equal Housing Lender, American Federal Mortgage has been
approved by Fannie Mae, Freddie Mac, HUD and the Veterans
Administration. In addition, the company's HUD (Housing & Urban
Development) and VA (Veterans Administration) approval allows it to
write FHA (Federal Housing Authority) and VA (Veterans Administration)
Loans. For more information, visit http://americanfedmortgage.com.
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.
For Del Mar DataTrac
Andy Payment
678-781-7222
or
Alex Shorter
678-781-7207
Copyright Business Wire 2008
