The Happy Home (Lender)
The loan production process has become decidedly more agreeable for Robin Nelson, assistant vice
Until 2000, the $1-billion CU filed annual Home Mortgage Disclosure Act (HMDA) reports by manually pulling files from its
"That was a very tedious process," said Nelson.
Now, Travis CU's in-house loan reporting and HMDA reporting starts and ends within one automated platform called DataTrac,
Loans are transferred to DataTrac from the CU's loan origination system, said Nelson. From DataTrac, the loan can then be
The 130,000-member CU funded more than 1,600 loans last year for a total of $201 million.
Once a loan is entered into DataTrac, information is instantly accessible from different points of contact, including underwriting,
Nelson said she has enjoyed streamlined HMDA reporting because she can export files from DataTrac into a compatible
And as of April, address coding information has been automatically populated in DataTrac fields via QuestSoft's Instant
"Our HMDA reporting process is now just a matter of a few hours every quarter," she said. "DataTrac has been a great help
The DataTrac/Questsoft integration also searches for typos and possible new properties in the area and, if needed, provides users
"Address coding with Geocoder and monitoring your files for errors or missing information is very simple with Questsoft,"
Nelson is impressed with DataTrac's reporting capabilities, as well.
"DataTrac has about 200 standard reports relating to the loan production pipeline, including underwriting and marketing-it's one
Because Questsoft users can quickly verify addresses, obtain demographics and ensure locations and procedures are compliant
Ryan projected that the ability to identify low- and moderate-income borrowers on the secondary market could be a boon to
For info on this story
Travis CU: www.traviscu.com
FNMA, FHLMC bulletins and user guides: www.allregs.com
Del Mar Database: www.delmardb.com