VMP Mortgage Forms and Dorado Announce .MOR Web Docs Service Agreement
Dorado to Offer VMP RAKIS as a Web Service
San Mateo, Calif.—October 21, 2002—Dorado Corporation, the leader in Demand Chain Management for home lending, and VMP Mortgage Forms®, known for its advanced forms technology and mortgage solutions, today announced a Web services agreement. Under the terms of the agreement, Dorado will integrate VMP's RAKIS®, document control and production system into Dorado .MOR Web Services, available through the Dorado ChannelMaster 3.0 POS system. The Dorado document service, called Dorado .MOR™ Docs, provides loan officers and other originators with printable Good Faith Estimate (GFE), Truth in Lending (TIL), and other up-front documents and disclosures required within 72 hours of application. The first customers for .MOR Docs include HomeBanc and Guaranty Residential Lending.
As a MISMO 2.1-compliant Web service, Dorado .MOR Docs leverages Dorado .MOR Server and is hosted in the Dorado .MOR Web Services Center. It can be rapidly and cost-effectively integrated with existing legacy systems while maintaining maximum security and privacy. With Dorado .MOR Web Services, home lenders can get to market fast with mortgage-specific products and services, while decreasing the risk and cost of implementing new technology.
The Dorado .MOR Docs Web service provides the full power of RAKIS, a state-of-the-art print server designed to expedite the printing of form documents. .MOR Docs includes both VMP-maintained government-compliant documents and lender-defined custom documents. A sophisticated rules engine determines which documents are included in the up-front package for a given application based on borrower data, loan product, and other attributes.
" We are pleased to have our document service packaged as a .MOR Web Service," said Norman Tononi, VMP's general manager. "This relationship partners VMP's RAKIS with a leader in demand chain management for service delivery."
" VMP is the industry standard for mortgage documents," said Joseph W. Jennings, president, Dorado. "Offering VMP's RAKIS as a .MOR Web Service will give lenders much faster access to up-front documents as an integrated piece of their overall system. We are pleased to be able to offer this and many other services that lenders can "turn-on" as needed for all of their sales channels."
Implementing RAKIS as a Web Service
Customers can quickly convert to Dorado .MOR Docs using Dorado ChannelMaster or other point-of-sale systems. Based on the customer's workflow and document logic, .MOR Docs will be integrated into the point-of-sale system to enable simple, efficient generation of up-front documents. The customer's existing library of standard and custom documents will then be migrated from the legacy system to .MOR Docs.
For new customers, the process begins with a standard up-front document set rather than a legacy library. This standard set is extended and configured per the customer's requirements and then integrated into the point-of-sale system. .MOR Docs supports ongoing, non-disruptive modification of the document templates, allowing customers to update workflow according to evolving business needs.
About VMP Mortgage Forms
VMP Mortgage Forms is a division of CBF Systems, Inc., a Bankers Systems, Inc. company. VMP has been providing the mortgage lending industry and government agencies with leading-edge technology and forms solutions for more than 30 years. For more information, visit the VMP web site at www.vmpforms.com or call 800.521.7291.
About Dorado Corp.
Dorado Corporation is the leader in Demand Chain Management software applications for U.S. home lending banks. Dorado’s mortgage, home equity, and real estate products integrate business customers and consumers into lending processes. Dorado’s Web services-based solutions increase flexibility and efficiency and enable the up- and cross-sale of financial products and services. www.dorado.com
Press contacts:
Shelley Ayers
VMP Mortgage Forms
800-521-7291 x 386
sayers@cbf.com
Melinda Mattei
Dorado Corporation
650-227-7329
Copyright © 2003 Dorado Corporation. All rights reserved. Dorado, the Dorado logo, Dorado ChannelMaster, Dorado PriceMaster, and Dorado .MOR are trademarks of Dorado Corporation. Other company and/or product names may be trademarks or registered trademarks of their respective companies.
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