CHICAGO, Oct. 21, 2002 (PRIMEZONE) -- Del Mar Database (DMD), a leading provider of mortgage banking software solutions for small to mid-size lending institutions, announced today at the MBA 89th Annual Convention and Expo in Chicago that it has added the twenty-fifth lender to its Key Club product steering committee. "Version 1.0 of DataTrac(r), our flagship product, was launched in 1996 in direct response to the needs of the mortgage banking community," said DMD CEO Jeb S. Spencer. "Over the years, we have continued to respond to our clients' requirements and feedback in developing our product suite. The natural outgrowth of that listening process was the formation of our customer-focused Key Club steering committee," added Spencer.
The Key Club, a diverse team of industry experts whose collective contributions are providing valuable input towards the design of future DMD product releases, is comprised of over 60 members representing 25 top lenders and industry consultants. A Web-based virtual community, the Key Club enables members to share ideas in an open discussion forum that will help drive future product direction.
According to Rob Katz, DMD vice president of product management and business development, the company is receiving proactive, hands-on suggestions and requests from lenders ranging in size from $5 million to $800 million a month in fundings. "We now have a more formalized vehicle to learn exactly how we might improve our products to address the needs of retail, wholesale, net branch and correspondent lenders. We have gained important insight into the activities of lenders who touch nearly every type of loan program including conventional, sub-prime, construction, HELOCs, and FHA/VAs," said Katz.
Key Club member Steve Pavlos, vice president of information technology for Northern California-based Central Pacific Mortgage, stated, "It's very refreshing to work with a partner who is really trying to learn what its customers need and want. Not only do we have the opportunity to share our ideas with the Del Mar Database team, but we are also exchanging information and learning how other lenders across the country conduct their businesses and utilize lending technology."
Beyond its online Key Club forum, DMD continually seeks input from its entire lender customer base. The company is currently conducting an in-depth customer survey, which will help DMD's expanded engineering team prioritize its product development efforts.
Steve Khoshabe, executive vice president for Illinois-based United Financial Mortgage, was one of the first to respond to DMD's survey. "Based on the features outlined in the survey, it's obvious that the folks at Del Mar Database have a clear understanding of what a lender needs from their partner in order to be as profitable as possible," observed Khoshabe. "We are looking forward to deploying future releases of the DataTrac(r) suite," Khoshabe commented.
Del Mar Database is participating in the October 20-23, 2002 MBA 89th Annual Convention and Expo (http://events.mbaa.org/89th_annual/index.cfm) at the Hyatt Regency in Chicago, IL, at DocuTech, Inc. Booth No. 234 and Sollen Technologies Booth No. 236.
About Del Mar Database
Incorporated in 1993, DMD develops and markets comprehensive software solutions that automate the loan process for residential mortgage lenders throughout the U.S. The company's flagship product, DataTrac(r), is specifically designed as a solution for small to middle-tier lenders with loan originations ranging from start-up to $10 billion per year. DataTrac(r) interfaces with mortgage brokerage-oriented loan origination software, pricing software, document software, and accounting solution providers. An enterprise version of DataTrac(r) is available on MS SQL. DMD also offers WebTrac(r), a powerful product that provides Internet access to real-time information to the mortgage brokerage community, sales operations and loan officers. DMD products are all Microsoft-based for maximum performance and ease of operation and implementation. Further information on DMD can be found online at www.delmardb.com.