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Dorado Announces 65% Revenue Growth, 100% Customer Renewals, and Adds 75,000 to User Base in 2004
Growth Results from Continued Focus on Driving Lending Innovation, Customer Benefits, and Satisfaction
San Mateo, Calif.—February 15, 2005—Dorado Corporation, the leader in mission-critical, on-demand solutions for home lending, today announced continued and significant growth for 2004. The Company increased revenues 65 percent, earned renewals from 100 percent of customers due for renewal, and more than doubled its user base from 65,000 seats to 140,000. Combined with the ongoing evolution of its award-winning solutions, Dorado continues to strengthen its industry leadership position by delivering powerful business benefits to top-tier and emerging lenders in the home lending business.
“GreenPoint Mortgage was able to buck the downward trend that impacted so many lenders in 2004,” said S.A. Ibrahim, CEO, GreenPoint Mortgage. “Not only did our total number of loans increase, but our conversion percentage also improved. A key component of this success is the flexible, Web services-based technology foundation we have built for our brokers with Dorado’s help. e-Point, GreenPoint’s broker origination platform, has helped make us a “must-have” partner for over 20,000 brokers.”
“Today, technology has become a key driver in lending,” said Dain Ehring, CEO, Dorado Corporation. “Top- and emerging-tier lenders are finding innovative ways to differentiate and automate, and they are quickly separating from the pack. Dorado’s ability to help customers like GreenPoint grow their businesses, even in a tough year, is a testament to the unique benefits we provide. Our continuing goal is to help lenders own and control the loan origination process at every customer touch point across every sales channel, providing a dynamic view of their entire loan pipeline.”
With the Dorado Unified POS, lenders can seamlessly integrate all personnel, lines of business, partner organizations, and vendor services at the point of sale, as well as pull forward key functionality like underwriting and decisioning. This enables lenders to up-sell more seamlessly and cross-sell other financial services as part of their consumer programs. With Dorado, lenders can completely transform the origination process without having to rip and replace existing systems by rapidly integrating new functionality at a reasonable cost.
Dorado’s growing top- and emerging-tier customer base includes: AmSouth Bancorporation, Cendant Mortgage, Chase Manhattan Mortgage Corporation, Citibank, Commercial Federal Bank, Countrywide Home Loans, EverBank, First Horizon Home Loans, GreenPoint Mortgage, Guaranty Bank, Irwin Mortgage, Oak Street Mortgage, Union Bank of California, Universal American Mortgage Company, and Washington Mutual, Incorporated.
Dorado Corporation
Dorado Corporation is the leader in mission-critical, on-demand solutions for home lending. Dorado’s innovative solutions are installed by numerous top-tier and emerging tier lenders and today enable more than 146,000 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 © 2005 Dorado Corporation. All rights reserved. THe Dorado logo,Dorado ChannelMaster and Dorado PriceMaster are registered trademarks of the Dorado Corporation. Dorado, 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 contact:
Melinda Mattei
Dorado Corporation
650-227-7329
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