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Dorado Announces Retail ChannelMaster 3.0 with Advanced Point-of-Sale Capabilities
New Release Offers Up-front Disclosures, Settlement Services, an Offline Utility, and New Identity Verification
San Mateo, Calif.—October 9, 2002—Dorado Corporation, the leader in Demand Chain Management for home lending, today announced availability of Retail ChannelMaster™ 3.0, a demand chain management solution for retail mortgage origination. The new release includes advanced Point-of-Sale (POS) features such as up-front documents (GFE, TIL, etc.), settlement services, wireless access, an offline utility, and an identity verification capability. Available in the fourth quarter of 2002, Retail ChannelMaster 3.0 accelerates loan closings, reduces hedging risk, and increases loan officer productivity. Current Retail ChannelMaster customers include: Countrywide Home Loans, HomeBanc Mortgage, and Guaranty Residential Lending.
Retail ChannelMaster 3.0 is a Web services-enabled application. Leveraging the recently announced Dorado .MOR™ Web Services, it comes integrated with a complete package of MISMO 2.1 compliant Web services including: up-front documents, settlement services (credit, title, flood, and appraisal), automated underwriting, LOS integrations, pricing engines, POS integrations, and online payment. Supported vendors and service providers include: VMP Mortgage Forms, First American, Fannie Mae, Freddie Mac, Gallagher, FiTech, FiServ, LoanSoft, LOP, Calyx, and CyberSource. These Web services are available through the Dorado .MOR Web Services Center. (See Dorado .MOR Web Services announcement dated September 17, 2002.)
In addition, Retail ChannelMaster provides support for wireless and offline use, as well as a new identity verification capability. Wireless and offline use support eliminates the need for desktop POS software systems while maximizing the loan officer's flexibility in working with customers in the field. The new identity verification capability is in partnership with VMP Mortgage Forms and Bankers Systems, and meets the rigorous consumer identification specifications mandated by Section 326 of the USA Patriot Act, effective October 2002.
" Retail ChannelMaster 3.0 expands the point-of-sale into a point of relationship, because it integrates systems and processes forward to the customer touch-point, making it easier and faster to respond to customer needs," said Joseph W. Jennings, Dorado president. "It also frees retail distribution channel management from being tied to back end processing system constraints. The new .MOR Web Services from Dorado will make retail the premier channel for retention, and up- and cross-sale in mortgage banking and home lending."
Retail ChannelMaster Features
" Retail loan officers cater to a wide range of customers with a wide range of needs, and we have designed Retail ChannelMaster 3.0 to support them wherever, whenever, and however they need," said Hassan Rashid, senior vice president, Dorado Sales and Business Development. "Improved POS capabilities, Web services support, and wireless access make the loan officer more mobile, independent and able to focus attention on customers and their needs."
Expanding on the capabilities and functions of Retail ChannelMaster 2.0, the new version of ChannelMaster adds:
| Capabilities |
Features |
Web
Services Enabled |
| New
Point-of-Sale |
Up-front
Disclosures |
VMP |
| |
Settlement
Services |
First
American |
| |
APR,
Amortization Calculations |
Math
Corp. |
| |
Downloadable
Ratesheets |
|
| |
Pipeline
Reports |
|
| |
Fliers
and Proposals |
|
| |
Identity
Verificiation |
|
| |
Offline
POS Client |
|
| New
Web Services |
.MOR
Server Options |
.MOR
Web Services Center |
| 2.0
Demand Chain Management Features |
Pipeline
Management |
|
| |
Task
Center |
|
| |
Document
Center |
|
| |
Communication
Center |
|
| |
Status
Center |
|
| |
Credit
Reports |
MorNet,
First American |
| |
Automated
Underwriting |
Fannie
Mae, Freddie Mac |
| |
Product
Definition, Search |
|
| |
Branch,
LO Web Sites |
|
| |
My
Loan Center |
|
| |
Consumer
Loan Application |
|
| |
SFA/Contact
Management |
Outlook,
ACT! |
| |
New
Wireless |
Sprint
Wireless Modem |
| |
Offline
POS Utility |
|
Dorado Retail ChannelMaster 3.0 provides critical capabilities traditionally offered by POS client software, and in addition delivers faster credit and underwriting decisions, increased data integrity, and insures fewer compliance issues. Because it is Web services-based, it expands the flexibility and efficiency of existing LOS and LPS software, enabling an easy migration path for services and processes.
MBA 89th Annual Conference and Exposition
Dorado Retail ChannelMaster 3.0 will be demonstrated at the Swissotel, Chicago, one block from the Chicago Hyatt Regency, during the MBA's 89th Annual Conference & Exposition. Contact Tom Wilkins at 650-776-3520 to schedule a demonstration appointment.
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:
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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