Electronic file transfer is the tip of the mortgage industry iceberg
SALT LAKE CITY, Sept. 19, 2007 -- Primary Residential Mortgage, Inc. Launches DocumentTrac, an electronic document management (EDM) solution that has empowered our operation with an integrated solution for imaging, archiving, retrieving, and distributing all documents associated with a loan file.
"In evaluating different document imaging solutions, DocumentTrac seamlessly integrated with DataTrac without complicating our current process," says David Zitting, CEO and President of PRMI. "Its flexibility enabled us to integrate with our existing platform, saving us time and money."
Built on Microsoft's .NET architecture, DocumentTrac is tightly integrated with DataTrac to eliminate duplicate data entry, reduce errors and increase productivity -- providing the mortgage industry one of the most feature rich electronic document management solutions available to small and mid-sized mortgage lenders. The solution reduces labor costs associated with loan processing, minimizes storage and delivery costs, and allows faster funding with electronic delivery to investors.
"The ability to exchange loan documents electronically between branches, and investors is the tip of the iceberg," says Dave Zitting. "DocumentTrac removes the dependency on physical loan files and gives us cross-organizational access to files in the workflow. This system is really shaving hours off the loan process."
DocumentTrac features and functionality include document acquisition, filing, retrieval and bundling. Acquisition occurs through fax, file upload, scanning or via a print driver. Filing includes automatic forms identification, integrated loan file search, exception-based manual categorization, and integrated data. Retrieval functions enable easy access through the loan record selected in DataTrac. Bundling features include verification of loan completeness, generation of documents in the appropriate stacking order, and electronic delivery.
About Del Mar Database: San Diego-based Del Mar Database, a wholly owned subsidiary of Fiserv Inc., introduces new technologies to lenders of all sizes that leverage their existing tools to improve efficiencies, increase profitability, and increase pipeline capacity. The company's proprietary software solution, DataTrac, enables 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, brokers becoming lenders, credit unions, and community banks.
About PRMI: Headquartered in Salt Lake City, Utah, Primary Residential Mortgage, Inc. (PRMI) was founded by Dave Zitting, Jeff Zitting, and Steve Chapman in 1998. Since its inception, PRMI has evolved from a four-person business to a nationwide multi-billion dollar operation with 800 employees working in approximately 200 Branches in 47 states. Branches operate under the PRMI brand or as DBAs as part of the Divisional Joint Venture and Consortium Partner programs. Serving all segments of the market, PRMI is a privately held, debt-free company that focuses primarily on traditional loan products.
Dave Zitting, President and CEO, Primary Residential Mortgage, Inc. email@example.com
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