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Irwin Mortgage Selects Dorado PriceMaster
Rules-based Application Streamlines Pricing and Eligibility Decisions Across Retail, Wholesale and Correspondent Channels for Top 25 Lender
San Mateo, Calif.—February 23, 2004—Dorado Corporation, the leader in Web services-based applications for home lending, today announced that Irwin Mortgage Corporation has selected Dorado PriceMaster™ to automate complex loan product pricing and program eligibility decisions for its network of more than 2,800 loan officers, brokers, and correspondents. PriceMaster will integrate with Irwin’s existing loan origination system to process pricing subsidies, service release premiums and servicing values, administer policies, and produce rate sheets. PriceMaster’s Web services-based architecture and powerful rules engine give Irwin the flexibility, centralized control, and rapid integration needed to get new products to market quickly.
“Our loan origination system had some challenges with product pricing and eligibility,” said Erik Sorensen, senior vice president, Irwin Mortgage, “so we searched for a vendor and a product with the capabilities we needed. We selected Dorado to provide the features we need immediately, plus the capability to aggressively add new features to meet future requirements. PriceMaster’s flexible foundation can easily integrate with new and existing systems, ensuring that our technology will keep up with our business needs.”
With Dorado PriceMaster, pricing and program eligibility rules can be centrally created, ensuring rapid distribution of new products and error-free program selection across multiple sales channels. Dorado PriceMaster is based on the company’s .MOR™ Web Services platform, which enables lenders to easily and economically integrate new products and services with legacy systems, and more rapidly deliver those services to their customers.
“Like many lenders today, Irwin was looking for technology that could better align with their business goals,” said Dain Ehring, CEO, Dorado Corporation. “The extreme complexity of today’s pricing rules makes automated decision-making an imperative for cost-conscious businesses that rely on product innovation to remain competitive. PriceMaster not only automates the pricing process from end-to-end, but its flexible technology foundation enables lenders to easily integrate it with their existing systems and start pricing like pros within a few months!”
Irwin Mortgage
Irwin Mortgage Corporation helps turn home dreamers into homeowners with products offered through selected retail, wholesale, correspondent and Internet channels. It provides expertise and specialized services to customers who want to finance or refinance homes. The Indianapolis-based lender, with roots dating back to 1944, has branch offices throughout America. In 2003 alone, Irwin Mortgage helped more than 158,514 families buy or refinance their dream homes. Irwin Mortgage is a subsidiary of Irwin Financial Corporation (NYSE: IFC). For more information, visit its website, irwinmortgage.com.
Dorado Corporation
Dorado Corporation is the leader in Web services-based applications for home lending. Dorado’s innovative enterprise solutions are installed by seven of the top 10 lenders, enabling more than 85,000 lending professionals to increase efficiency and productivity at the point of sale. The solutions also drive cross-sell/up-sell opportunities by increasing workflow flexibility and simplifying technology integrations for leading lenders such as Chase Manhattan Mortgage Corporation, Citi, Countrywide Home Loans, and Washington Mutual. www.dorado.com
Copyright © 2004 Dorado Corporation. All rights reserved. Dorado ChannelMaster is a registered trademark of the Dorado Corporation. Dorado, the Dorado logo, 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 contacts:
Melinda Mattei
Dorado Corporation
650-227-7329
Jennifer Gasiorek
Irwin Mortgage
(317) 537-3178
jennifer.gasiorek@irwinmortgage.com
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