VMP and Dorado Expand Alliance Relationship to Include Documents, Document Delivery and Fraud Management
San Mateo, Calif.—March 15, 2004—Dorado Corporation, the leader in Web services-based systems for home lending, and VMP® Mortgage Solutions today announced an expanded alliance relationship to deliver an end-to-end document management solution called Dorado DocStart™. Through this new offering, Dorado will provide VMP’s solutions, including mortgage documents, vmpdelivers® and ID Flag® for Mortgage, as Dorado .MOR™ Web Services. DocStart will dramatically speed loan processing by enabling originators to produce, print, and distribute documents via the Internet as an integrated part of their loan origination platform.
The vmpdelivers secure Internet document delivery system will be available as part of Dorado ChannelMaster® alongside VMP’s RAKIS® system, which Dorado integrated last year. The vmpdelivers system provides lenders with substantial time savings and significantly decreased shipping costs via a data center that meets the privacy requirements of the Gramm-Leach-Bliley Act.
The IDFlag for Mortgage tool from VMP’s Fraud Management Solution will also be available within ChannelMaster, enabling lenders to easily and conveniently validate and verify identity information provided by loan applicants. IDFlag for Mortgage was developed as a first line of defense against identity theft and offers lenders additional benefits by helping them meet the requirements of the USA PATRIOT Act.
Developed with version 2.1 of the Mortgage Industry Standards Maintenance Organization’s (MISMO) data standards, DocStart will be delivered as a Web service using the .MOR Server, and will be provided as a Dorado Managed Service. This ensures the solution can be rapidly and cost-effectively integrated with existing legacy systems while maintaining maximum security and privacy. With Dorado .MOR Web Services, lenders can deliver mortgage-specific products and services to the marketplace quickly without the risk and cost associated with implementing new technology.
“The integration of VMP’s documents and services into Dorado’s system continues our tradition of meeting the needs of the industry,” said Norman Tononi, executive director for VMP and the mortgage business unit of Bankers Systems, Inc. “We highly value this opportunity to provide more lenders with the benefits of our solutions while strengthening our relationship with Dorado through this unique development.”
“ Dorado and VMP have developed a very special partnership,” said Dain Ehring, CEO, Dorado Corporation. “Our industry-leading Web services platform provides a range of business options for our alliance relationships. We hope to steadily continue filling out our portfolio of available Web services in this way, making it very easy for our customers to have point-of-sale access to the services they need to achieve their 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.
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, Dorado SourceMaster, 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
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