Del Mar Database, a unit of Fiserv Inc., has
introduced SourceTrac, a highly customizable consumer-direct lending portal that allows lenders to enhance their
Web presence to both provide better customer service to borrowers and brokers and to improve lead generation capabilities
for lenders. Del Mar caters to the small- and mid-tier lenders, which means that this offering will directly impact
brokers in both positive and negative ways.
First, it will give these mid-tier lenders a more robust Web presence, which will make it easier for brokers to
communicate with them and conduct business. However, it will also allow these lenders to go direct to the borrower
as well.
SourceTrac is integrated with DataTrac, Del Mar's flagship product. The news was announced at the Mortgage Bankers
Association annual convention in Chicago. The company touts DataTrac as its back-office processing solution that
improves both operational efficiency and production while reducing risk.
SourceTrac enables small- and mid-tier lenders to effectively compete for business online as they go up against
larger, often more technologically sophisticated lending institutions. The portal can be used for online mortgage
loan applications, as a solution for communicating with borrowers and brokers during the loan process or as a lender's
entire Web presence.
"The mortgage market is tighter this year, and smart lenders are looking to technology to increase their production,
improve their customer service and maintain their profitability," said John Walsh, president of Del Mar in
a prepared statement. "SourceTrac is a truly unique offering that provides both real cost and resource savings,
as well as the ability for a lender to make a one-time investment that will continue to generate leads for them
into the future."
SourceTrac is the only consumer-direct Web portal that fully integrates with DataTrac. Del Mar Database has taken
a simple approach to implementation so that lenders may eliminate or substantially reduce the need for loan officers
to take applications over the phone. The portal was developed for the business user, with easy single server installation
and simple content editing and configuration.
"Del Mar Database is committed to consistently offering innovative products to benefit small to medium-size
lenders competing with larger lenders," said Mr. Walsh. "Our product development is based on feedback
received from customers and we are proud to add SourceTrac to our solution suite as it offers both cost savings
and lead generation benefits. Customers can self-implement and be up and running in a matter of days, not months.
Few solutions in the market today allow lenders to cut costs, enhance their Web presence and generate leads at
the same time."
