Market Street Mortgage Closes on Email Challenges 

Market Street Mortgage is among the nation’s leading retail originators of residential mortgage loans.  Founded in 1986, the company is headquartered in Clearwater, Fla. and is a wholly owned subsidiary of NetBank.  In 2005, Market Street Mortgage closed $3.4 billion in mortgage loans.  Market Street Mortgage and its subsidiaries have more than 1,100 employees across 70 locations serving homebuyers, homebuilders and real estate agents in 49 states. 

Market Street Mortgage was relying on PSTs and using backup tapes to store their email in order to meet industry regulations and protect against litigation suits, a process which became increasingly time consuming and expensive when the company needed to retrieve email data. 

“To find a copy of an old email for legal matters, we would have to call the archive storage company, order the tapes, wait a couple of days for them to arrive and only then could we start looking,” said Helvey Johnson, Senior Network Engineer at Market Street Mortgage. 

Market Street Mortgage contacted Data Archive Corporation to help find an email archiving solution that would be easy to use.  It was also essential that email archiving would not stop incoming and outgoing email or reduce server performance.   

Data Archive Corporation had previously worked with Market Street Mortgage to implement a Plasmon G-238 Magneto-Optical Library with QStar HSM as the library management software to serve as a storage repository for scanned document images.  Following technical product email archiving software demos from AXS-One, C2C and ZipLip, Market Street Mortgage selected C2C’s Archive One for Compliance. 

“C2C’s Archive One was selected based on ease of deployment, user-friendly interface, administration tools and price per seat,” said Paul Greene, Founder of Data Archive Corporation. 

Archive One for Compliance utilizes Exchange Server Journaling technology to capture copies of every new internal and external email.  This email data is then extracted and indexed by Archive One to allow fast data search and retrieval.  The data is compressed and archived to a storage device. 

With the introduction of the Plasmon 30GB UDO (Ultra Density Optical) and the decision to share the library with an email archiving application, Market Street Mortgage added UDO drives to its existing library to achieve higher storage capacity.  QStar’s library management interface writes the scanned images and email messages to the Plasmon library on a nightly basis to ensure that the information is stored not solely on a server hard drive where it can be deleted or altered. 

All Archive One functions are controlled by the administrator and are transparent to the end user.  Email users are not aware that Archive One has been installed.  Once C2C’s Archive One was rolled out across the staff of 1,100 – including 950 remote users – Market Street Mortgage was able to appreciate the results of archiving more than 20,000 email messages every day. 

“The granular and intuitive multiple search criteria make it quick and easy to find or recover email by subject header, content, attachments and much more,” said Johnson.  “Before using C2C’s Archive One, it could take days to do a search for an email – having to retrieve and go through tapes. Now it takes very little time and since we don’t have to spend endless man-hours and pay to retrieve tapes, it is much cheaper! 

“It was obvious once C2C’s Archive One was up and running that the return on investment was huge, and nothing can touch it for performance and ease of use.”