 |
Dorado and VMP Announce Web Services-based Documents
Dorado Delivers VMP™ Mortgage Solutions’ RAKIS as a Web Service
San Mateo, Calif. and St. Cloud, Minn.—March 4, 2003—Dorado Corporation, the leader in Demand Chain Management for home lending, and VMP Mortgage Solutions, today announced availability of a new Dorado .MOR™ Web Service. The new service is a document control and production system that is based on VMP’s RAKIS® solution and enabled with VMP’s lending documents. Available through Dorado ChannelMaster™, the service provides loan officers and other originators with printable Good Faith Estimate (GFE), Truth in Lending (TIL), and other “up-front” documents and disclosures required within 72 hours of application.
Also announced today, Dorado and VMP have extended their .MOR Web Services agreement to include closing documents, such as the HUD-1, the mortgage note, and security instruments. Closing documents will be available as a Dorado .MOR Web Service later this year.
As a MISMO 2.1-compliant Web service, the document service leverages Dorado .MOR Server and is hosted in the Dorado .MOR Web Services Center. It can be rapidly and cost-effectively integrated with existing legacy systems while maintaining maximum security and privacy. With Dorado .MOR Web Services, lenders can get to market fast with mortgage-specific products and services, while decreasing the risk and cost of implementing new technology.
“We are pleased to extend our agreement with Dorado to include closing documents in their .MOR Web Services offering,” said Norman Tononi, executive director for VMP and the mortgage business unit of Bankers Systems, Inc. “Now the full complement of VMP’s documents is part of Dorado’s demand chain management solutions.”
“Dorado is steadily filling out our portfolio of available Web services,” said Joseph W. Jennings, president, Dorado. “Offering both up-front and closing documents as .MOR Web Services will enable lenders to rapidly implement and access these services as integrated parts of their overall system. On-demand access to critical mortgage services will help lenders achieve best loan execution in every case.”
About VMP Mortgage Solutions
For more than 35 years, VMP Mortgage Solutions has been the leading provider of forms automation technology, regulatory compliance support and services, Internet delivery solutions, documents, and lending materials for the mortgage lending market place. VMP’s position and knowledge of the mortgage industry drive the efforts of the mortgage business unit of Bankers Systems Inc. Based in St. Cloud, MN, Bankers Systems (www.BankersSystems.com) is the leading provider of compliance resource solutions for financial institutions and their legal counsel. For more information about VMP, please contact Joanne Gaskin, director of marketing at VMP and Bankers Systems' mortgage business unit, at 800-343-5586, extension 326, or visit www.vmpmtg.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:
Joanne Gaskin
VMP Mortgage SolutionsMortgage Business Unit
Bankers Systems, Inc.
800-343-5586, ext. 326
Joanne.Gaskin@vmpmtg.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.
|
|
