CoreLogic Dorado ROI – Sample Results 2001 to 2008 Period

Over the past five years CoreLogic Dorado's clients have realized significant savings, increased productivity, and realized higher efficiencies over previously used LOS methodologies, inclusive of the implementation costs required to move CoreLogic Dorado's solution into full production. Because CoreLogic Dorado's solution automates the client's processes and digitizes the loan file, savings result from the reduction of previously required human and technological resources and capital expenditures.

Savings are most pronounced by enabling users to work on loans in a collaborative fashion, accessible via the internet. In addition, cost savings are realized when our clients choose to expand into new channels, since most of CoreLogic Dorado's existing LOS functions can be leveraged across multiple channels and external integrations.

The following are some example of the ROI realized by users of CoreLogic Dorado's solutions:

• Prior to engaging with CoreLogic Dorado, a top five U.S. lender did an analysis that showed it would save $30 million a year in hard operating expenses, with no volume uplift, in its wholesale channel alone. Upon implementation, the calculations were shown to be conservative, and the lender subsequently rolled CoreLogic Dorado's system out to its retail operations.
  
  These savings were tied to:
  
  • lower IT expenses for operating systems
  • higher productivity in sales support and loan production staff
  • reduced paper handling expenses
  • lower FedEX, and other supporting costs
  • improvement in pricing quality, thereby reducing hedging costs
  • lower post-close QA expenses
  
  
• After the first year of operation on CoreLogic Dorado’s system, a large west coast lender experienced the following improvements:
  
  • Faster loan close cycles
  • Loan pull-through efficiency increases of 15% within the first 3 months of use
  • Savings of $3 million+ per year by eliminating unnecessary disclosures
  • Greatly improved pricing fidelity and accuracy for better hedging
  • Improved ability to add products faster, react to market needs faster
  • Streamlined and improved agent experience with features like quick lock, accurate pricing, operational improvements
  • Significantly improved data quality by eliminating re-keying in additional system(s)
  • Improved operational efficiencies and reduced expenses as more end-to-end transaction responsibility is put on the sales force upfront which improves the quality of a lead/transaction
  • Reduced expenses in HLC support staffing by getting brokers to access the application for information and submissions
  • PriceMaster efficiencies reduced time to promote new loan programs into production from 7 days to 2 days.
  
• A large East Coast lender was able to consolidate from 14 regional offices to 6 in their mortgage operations.

• Another large lender using CoreLogic Dorado’s event-driven platform to request, receive, and parse credit reports alone saved the company the equivalent of 20 full-time employees.

• A lender saw an increase from 7 to 10 average loans processed per employee per month. The resultant staff savings was significant.

• CoreLogic Dorado's platform dramatically increased productivity in one bank's lending operation… What once took a 12-person team devoted to handling paper loan submissions was reduced to one person, part-time.

• The CoreLogic Dorado platform shaved more than 25% off loan approval times for one bank.
• A lender realized an increase in loan officer productivity due to reducing/eliminating conditions that arise late in the process (which conditions required application restart with their existing system).

• A lender found that the elimination of software and hardware maintenance expense alone associated with their current LOS would more than pay for the cost of using CoreLogic Dorado. In addition, data center CAPEX and staffing were eliminated or redeployed.

• Due to CoreLogic Dorado's improved borrower and broker interface, one lender saw a more than 10% increase in its capture rate of new inquiries.

• As a result of CoreLogic Dorado's automated process with faster, streamlined close, several lenders saw increases of 8% or more in the number of applications that closed.

• Several of CoreLogic Dorado's lending customers, including those with billions in annual volume, have gone from error rates as high as 15% to virtually error-free loan files.
  
  

CoreLogic Dorado Return in Investment (ROI) Analysis Model

Economic Differences Between CoreLogic Dorado's Enterprise Lending System vs.
Other Lending Automation Solutions