SAN DIEGO -- As mortgage lending competition continues to tighten, lenders are looking to home equity and non-conforming loans to increase production. For most small to medium lenders who sell their loans to investors, their home equity programs are not as competitive as programs offered by larger lenders. Small to medium lenders often find themselves at a competitive disadvantage to larger lenders in the home equity and non-conforming first lien markets.

To improve their competitive positions, disadvantaged lenders can compete by improving their service levels. Del Mar Database and Integrated Loan Services (ILS) have teamed together to offer small to medium lenders tools with which to compete. QuickClose is just such a tool. QuickClose is an efficient alternative to traditional title insurance that can reduce the time required to close a loan by up to 14 days. The time compressions may reduce the cost to the borrower by up to 40 percent of traditional title insurance cost.

"At Del Mar Database, our focus has always been small to medium mortgage lenders," said John Walsh, president of Del Mar Database. "Our goal is to provide these lenders with solutions that help increase production, reduce costs, increase profitability and ultimately help them compete with the largest lenders. Our recent acquisition by Fiserv enables us to expose products and services to our clients that have previously only been available to 'mega-lenders.' QuickClose is a great example. In addition, Countrywide Correspondent lending has agreed to accept loans with ILS's QuickClose Lien Protection Insurance."

"Today's competitive environment demands that lenders streamline the home equity process, and alternative title products are a means to that end," points out Walsh. "Consumers expect and receive loans with no application or closing fees on these products, so lenders have to find alternative solutions for closing loans quicker and at a lower cost."