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Dorado Announces PriceMaster 3.0
More Flexible, Powerful Rule Definition Gives Lenders Better Control Over Channel Profitability
SAN DIEGO—October 20, 2003—Dorado Corporation, the leader in Web Services-based systems for home lending, today announced availability of PriceMaster™ 3.0, a pricing and decisioning engine for financial products. PriceMaster 3.0 offers more flexible, powerful rule definition, enabling lenders to optimize their offerings with channel-specific products and gain better control over channel profitability. New features include advanced ratesheet generation, table-based pricing adjustment rules, and support for subsidies, service values, and servicing release premiums (SRP). PriceMaster currently serves as the core of GreenPoint’s e-Point™ system, an industry-leading platform for wholesale origination.
PriceMaster 3.0 extends the product’s powerful rules-based product definition capabilities to support channel- and firm-specific subsidies as well as the calculation of service values and SRPs needed for profitability analysis. Table-based rules allow rapid creation of loan products with fine-grained adjustments based on inputs such as credit scores. Advanced ratesheets support automated creation and distribution of ratesheets based on product definition rules.
“We will be implementing PriceMaster across our retail, wholesale, and correspondent channels,” said Angie Kolb, vice president, systems analyst, for Guaranty Residential Lending. “PriceMaster will enable us to rapidly distribute up-to-the–minute information to all of our sales professionals. Because of its automated selection capabilities, we hope to decrease the costs associated with erroneous loan submission.”
“PriceMaster now truly surpasses the traditional notion of a pricing engine,” said Dain Ehring, chief executive officer, Dorado. “PriceMaster delivers the power of a rules-based decisioning engine combined with all the necessary support for complex channel and even firm-specific pricing and subsidies. No other pricing technology on the market today can compare to that.”
PriceMaster 3.0 New Features
PriceMaster 3.0 helps mortgage institutions create and deliver more profitable loan products, while greatly reducing the complexity of product administration. Expanding on the capabilities and functions of PriceMaster 2.0, the new release adds:
| Feature |
Description |
| New
Functionality |
|
| 1. Subsidies |
Conditions and rules can be defined
and managed that calculate the subsidy for any loan product.
Subsidies can be managed independently of product eligibility
and applied to any level in the organizational hierarchy. |
| 2. Servicing
values |
Conditions and rules can be defined
and managed that calculate the servicing value for any loan
product. |
| 3. Service
release premiums |
Conditions and rules can be defined
and managed that calculate the service release premium (SRP)
for any loan product. |
| 4. Ratesheet
generation |
Traditional loan product “ratesheets”
can be designed, populated, and distributed. A design tool enables
the administrator to control the content and layout of ratesheets,
which are populated using the products defined in the rules
engine. Ratesheets can be created specifically for and distributed
to entities at any level in the organizational hierarchy. |
| 5. Tabular
adjustment rules |
Adjustment rules can have tables
with ranges in addition to simple numbers. For example, a table
can be entered that associates ranges of credit scores or loan-to-value
ratios with different adjustments to interest rates or points. |
| 6. Loan
eligibility failure report |
A loan application can be tested
for eligibility a particular loan product to generate a report
that shows what rules disqualified the application. |
| 7. Organizational hierarchy and import API |
A complex hierarchical structure (e.g. corporate,
channel, branches) can be created and used to organize and parameterize
program rules. The structure may be imported or exported through
an API. |
| 8. Base rate groups |
Base rates can be organized into groups, and
new rate tables can be uploaded for groups independently of
each other. |
| 9. Granular lock periods |
Base rate tables have explicit lock period
values for each rate. |
Availability
Dorado PriceMaster 3.0 will be generally available in December, 2003.
Dorado Corporation
Dorado Corporation is the leader in Web services-based systems 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
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.
Press contact:
Melinda Mattei
Dorado Corporation
650-227-7329
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