Del Mar DataTrac

About Del Mar DataTrac

Del Mar DataTrac, founded in 1991, provides loan automation solutions for mortgage lenders, banks, and credit unions. The company's core product is DataTrac, a back-office lending software designed to automate the residential mortgage lending process, manage workflow, and handle reporting. The suite of products also included WebTrac, a web-based originator portal, and a management dashboard, all functioning within a paperless environment.

The company's target clients were primarily small-to-medium-sized mortgage lenders. In 2011, it was reported that over 200 mortgage lenders used its software as their main operating system to process and fund loans. The business model centered on providing its workflow platform, DataTrac, as a back-office hub.

The company has a notable history of acquisitions. In 2001, TVC Capital, a San Diego-based private equity firm, acquired Del Mar DataTrac for approximately $7 million. Under the leadership of TVC co-founder Jeb Spencer, the company grew significantly and was sold to Fiserv in 2005 for an estimated $24 million. Following challenges during the collapse of the housing market, TVC Capital repurchased the company from Fiserv in early 2008 for around $4 million. In August 2011, Ellie Mae (now part of Intercontinental Exchange) acquired Del Mar DataTrac for a total of $25.2 million. Following the acquisition, Del Mar's president, Rob Katz, was named Ellie Mae's executive vice president of product strategy, and chairman Jeb Spencer joined Ellie Mae's board of directors.