Dorado to Standardize on MISMO 2.1
Reduces Cost and Time Required for Mortgage Software Integrations
San Mateo, Calif. —March 11, 2002—Dorado Corporation, the leader in Demand Chain Management for mortgage banking, today announced its intent to standardize its products on the Mortgage Industry Standards Maintenance Organization (MISMO) 2.1 data interchange standard. MISMO compliance ensures that all Dorado products can be rapidly and reliably integrated with other MISMO compliant applications and Web services, enabling Dorado customers to benefit from plug-and-play mortgage services. MISMO compliance also provides an open platform for other vendors to rapidly develop applications and services that interoperate with those from Dorado.
MISMO was formed in 1999 to address electronic commerce issues in the mortgage industry. It comprises members of the Mortgage Bankers Association of America (MBAA), technology companies, and other industry representatives, including Freddie Mac and Fannie Mae. MISMO Version 2.1 is currently under member and industry review. Based on XML, version 2.1 enables vendors to create interoperable applications and services that are easily extensible to accommodate numerous transactions. This allows for rapid, cost-effective integration of virtually any type of mortgage application.
“The key to reducing the cost of mortgage application development and deployment is the creation of a standard integration interface,” said Robert Carpenter, founder and CTO of Dorado Corporation. “Dorado’s support of the emerging MISMO 2.1 standard will make it easier and more cost-effective for other companies to interface with our applications and vice versa. The greatest beneficiary of industry-wide MISMO standardization is the lender, who will be able to rapidly and reliably implement the best possible applications at a lower cost.”
Dr. Carpenter was elected to the MISMO Governance Committee in July of 2001. The MISMO board of governors is elected from a cross section of the industry and provides oversight for the organization's administration and policy development. In the coming year, members of the committee will direct MISMO's efforts in publishing and releasing MISMO Version 2.1. Dr. Carpenter holds an Origination Technology seat on the board.
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 contact:
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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