Dateline: San Diego, California (SAN DIEGO, Calif.) | Tue, 06 Apr 2010
freeNewsArticles Story Summary: “SAN DIEGO, Calif. — Southern California mortgage banker Augusta Financial selected the Del Mar DataTrac(R), Inc. (DMD) flagship solution DataTrac as its automated loan processing platform and lending system of record in September, 2009, when it transformed from broker to banker. Founded in 1995 as a mortgage broker in the Santa Clarita Valley, Augusta Financial today serves Burbank, Orange County and Ventura as a full service mortgage banker.”
A R T I C L E:
Southern California mortgage banker Augusta Financial selected the Del Mar DataTrac®, Inc. (DMD) flagship solution DataTrac as its automated loan processing platform and lending system of record in September, 2009, when it transformed from broker to banker. Founded in 1995 as a mortgage broker in the Santa Clarita Valley, Augusta Financial today serves Burbank, Orange County and Ventura as a full service mortgage banker.
DMD is the leading provider of affordable mortgage lending automation solutions, and an industry pioneer in business intelligence, document imaging and management, and loan process workflow tools.
“As a broker serving the Southern California market for nearly 15 years, Augusta Financial earned its stripes by creating good relationships and executing solid business practices, so we were eager to take the next step of becoming a mortgage banker,” said Augusta Financial founder and president Mike Meena. “We selected the DataTrac solution because it had a strong reputation with our staff and had tools that directly met our business needs. Plus, we were confident it would be a reliable system from which we could grow the business.”
“We have always known DataTrac is a smart investment for broker-to-banker businesses because so many of our customers have grown exponentially from ‘branker’ to high volume mortgage banker on it,” said DMD president Rob Katz. “Regardless of size, today’s mortgage banker needs rules-based automated workflow and a single database of record that can deliver business intelligence on the loan operation, which are among DataTrac’s strongest capabilities. Then, once on our system, they won’t have to worry about outgrowing us.”
Shortly after purchasing the system, Augusta was fully implemented, trained and funding loans out of DataTrac. Today, the independent mortgage banker closes more than 50 loans per month, and is growing steadily without having to hire additional staff.
“DataTrac delivered what they promised – improved efficiency, best practice lending processes, and risk mitigation on regulations and loan salability,” concludes Meena.
About Del Mar DataTrac:
Founded in 1991, Del Mar DataTrac (DMD) is the leading provider of affordable loan automation solutions for mortgage lenders, banks, and credit unions. DMD offers a scalable workflow platform that enables lending best practices by leveraging DataTrac as the back-office hub along with a sophisticated point-of-sale system, a Web-based originator portal and commission engine, and a management dashboard – all in a paperless environment.
The DataTrac Suite (www.dmdinc.com/Products/DataTrac.aspx) is designed by mortgage lenders for mortgage lenders who strive to deliver extraordinary customer service, increase production and profitability, reduce risk, and streamline overall efficiency. For more information, visit www.dmdinc.com .
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• Web Image (72dpi): https://www.send2press.com/mediaboom/10-0318-delmardatatrac_72dpi.jpg
• Story Title: Broker-to-Banker Mortgage Lender Augusta Financial Selects DataTrac for Process Automation and Lending System of Record
• REFERENCE KEYWORDS/TERMS: loan processing platform, San Diego, California, Augusta Financial, Banking and Finance, Finance, , SAN DIEGO, Calif..
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