Northern Lights Mortgage Selects Dorado Retail ChannelMaster
Web Services-based Solution to Probvide Foundation for Business Growth
San Mateo, Calif. and Robbinsdale, Minn.—January 29, 2003—Dorado Corporation, the leader in Demand Chain Management for home lending, and Northern Lights Mortgage, today announced a licensing agreement for Dorado Retail ChannelMaster™. Retail ChannelMaster will enable Northern Lights' loan officers, affiliate partners, and retail operations personnel to streamline the origination process. As a Web services-based solution, Retail ChannelMaster delivers flexibility and scalability as Northern Lights aggressively expands its business.
As high-growth, mid-tier mortgage banks emerge from the "safety" of their correspondent relationships with larger banks, strict adherence to the Real Estate Settlement Procedures Act (RESPA), security, privacy and other government and industry regulations becomes a business imperative. Dorado's Web services-based platform and applications give banks rapid access to industry-standard services that insure compliance. Dorado Web services also enable growing banks to easily build distribution channels by giving affiliate companies Web-based access to their loan programs and services.
"Dorado's world-class customer list and their innovative, Web services-based approach to loan origination made them the natural choice for our business," said Tim Jaynes, president and CEO of Northern Lights Mortgage. "We're planning significant growth over the coming year and need a system that will enable us to easily evolve and expand our product portfolio and sales channels while adhering to home lending rules and regulations. Dorado's .MOR Web Services platform will insure that our technology infrastructure provides the support we need to realize our business goals."
Dorado Retail ChannelMaster will enable Northern Lights to capture and manage leads online and facilitate communication and collaboration between customers and Northern Lights personnel. Later this year, Northern Lights plans to implement Dorado
PriceMaster™ and the Dorado .MOR™ Server integration server. .MOR Server will facilitate integration of ChannelMaster and PriceMaster with Northern Lights' legacy systems and enable all applications and services to be accessed as Web services.
"Our agreement with Northern Lights marks an important transition into a new market segment for Dorado-the mid-tier of mortgage banking," said Joseph W. Jennings, president of Dorado. "By enabling the gradual implementation of new services on an as-needed basis, Dorado .MOR Web Services make our technology viable for smaller banks who want to hit an aggressive growth curve."
About Northern Lights Mortgage
Established in 1999, Northern Lights Mortgage has rapidly become one of the Midwest's largest brokerage firms and an active lender in Minnesota, North Dakota, and Iowa. Focusing solely on the residential mortgage industry, Northern Lights offers the buying power of a larger institution with the personalized attention of a small independent broker. Northern Lights' dedicated, experienced mortgage professionals take pride in the company's Hi-Tech, Hi-Touch approach to loan origination, often working at a client's home or business to guide borrowers smoothly through the loan process. For more information, please visit www.nlmco.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:
Tony Barranco
Northern Lights Mortgage
763-746-8733
tbarranco@nlmco.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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