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Countrywide Selects Dorado Retail ChannelMaster
Top Mortgage Lender to Enhance Communication Capabilities, Improve Customer Service for Growing Retail Channel
San Mateo, Calif. —September 30, 2002—Dorado Corporation, the leader in Demand Chain Management for mortgage banking, and Countrywide Home Loans, Inc., a national leader in residential finance, today announced a product licensing agreement for Dorado Retail ChannelMaster™. Dorado Retail ChannelMaster will provide Countrywide’s rapidly expanding network of more than 2500 loan officers and branch managers with personalized Web sites, accessible by consumers, as well as real estate professionals, and home builders. By improving communication and collaboration between consumers, business partners, and Countrywide sales personnel, Retail ChannelMaster will help Countrywide provide superior customer service.
Dorado’s Demand Chain Management (DCM) solutions are Internet applications designed to help lenders more efficiently and cost-effectively attract, close, retain, and cross sell customers. As one of Dorado’s DCM solutions, Retail ChannelMaster helps loan officers increase lead generation and accelerate the sales cycle by streamlining the process from leads, to loans, to closing.
“Countrywide prides itself in providing a superior online experience combined with excellent customer satisfaction,” said Bruce Cornelius, senior vice president, Countrywide Home Loans. “We were ranked #1 in customer satisfaction among the largest national home mortgage lenders in J.D. Power and Associates 2002 Home Mortgage StudySM, so when we decided to outsource the development and hosting of consumer-facing Web sites for our fast-growing retail channel, we had a high standard to meet and equally high expectations of the vendor. We chose Dorado because of the ease of use of their product and their experience in implementing retail mortgage lending solutions.”
“With Countrywide’s reputation for world-class online lending, we are extremely proud that they selected us to provide a Web solution for their loan officers,” said Dain Ehring, founder and CEO, Dorado Corporation. “Retail ChannelMaster will give Countrywide’s retail channel an improved way to attract and serve customers. We look forward to a long and productive relationship with Countrywide.”
About Retail ChannelMaster
Dorado Retail ChannelMaster™ connects consumers to the retail origination process and simplifies getting a mortgage. For lending institutions, Retail ChannelMaster streamlines production and provides a collaboration platform to bridge the gap between consumers and lenders. This results in lower costs and increased productivity.
With Retail ChannelMaster, loan officers can create and manage their own personalized Web sites and use them to complete loan applications, view current product and rate information, manage their loan pipeline, order credit reports and automated underwriting, and lock loans. Production managers can coordinate and process loans and applications more efficiently with better integration to back-end services and front-end sales channels. Consumers, using a personal Web portal, gain access to mortgage information and tools and can collaborate with their lender.
To help improve retention, Dorado Retail ChannelMaster can integrate a bank's servicing and marketing databases with their mortgage distribution channels and processing systems. This enables lending institutions to target refinance products to qualified customers, better capture and convert leads, provide Web fulfillment to direct mail and telemarketing campaigns, manage lead distribution efficiently, and reduce customer run-off.
About Countrywide
Founded in 1969, Countrywide Credit Industries, Inc. is a member of the S&P 500, Fortune 500 and Forbes 500. Its primary subsidiary, Countrywide Home Loans, Inc., was recently ranked #1 in customer satisfaction among the largest national home mortgage lenders by J.D. Power and Associates,* and number one overall in the third quarter 2002 Gómez Internet Mortgage Scorecard. Countrywide, through its subsidiaries and affiliates, provides mortgage banking and diversified financial services in domestic and international markets. Consumer businesses include mortgages, insurance and other financial products. Business-to-business activities encompass capital markets, transaction processing and insurance. The company is headquartered in Calabasas, California and has more than 20,000 employees with over 500 offices. For more information about the company, visit Countrywide's Web site at www.countrywide.com.
* J.D. Power and Associates 2002 Home Mortgage StudySM. Study based on responses from 6,817 home mortgage customers. www.jdpower.com.
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:
Kris Yamamoto
Countrywide Home Loans
800-796-8448
kris_yamamoto@countrywide.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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