 |
Leading Mortgage Industry Service Providers Endorse New Dorado Enterprise Lending System
Appraisal.com, ComplianceEase, Overture, and VMP Mortgage Solutions Announce Support, Agree to Develop Interfaces for New Solution
Orlando, Fla.—March 30, 2005—Dorado Corporation, the leader in mission-critical, on-demand solutions for home lending, today announced that four leading mortgage industry service providers have agreed to support the Dorado Enterprise Lending System (ELS) by developing interfaces that will seamlessly integrate with the new solution. (See related press release dated today: “Dorado Introduces the Enterprise Lending System.”) The four leading companies, Appraisal.com, ComplianceEase, Overture, and VMP Mortgage Solutions, provide a comprehensive range of essential mortgage services, including appraisal, compliance, custom sub-prime pricing, and documents. Because of its layered, service-oriented architecture, the Dorado ELS enables new vendor services to be quickly and easily added to a lender’s process flow, enabling lenders to adopt a “best-of-breed” vendor strategy.
“The ELS is all about our partners,” said Dain Ehring, CEO, Dorado Corporation. “The mortgage process is highly collaborative in nature, involving many touch points by external partners whose activities need to be coordinated. The Dorado ELS effortlessly orchestrates this activity, delivering a seamless experience to the user. Because of its underlying service-oriented architecture, the Dorado ELS enables third-party services to be developed and integrated as “plug-and-play” modules, so the lender can implement a “best-of-breed” approach and select only the services that best suit their needs. We have selected these four service companies as core partners because they are recognized as best-of-breed players in the industry.”
As a Dorado ELS partner, these companies will receive the ELS Software Developer Kit (SDK), which will provide access to the ELS application programming interface (API). The ELS API uses the specifications created by the Mortgage Industry Standards Maintenance Organization (MISMO) and Web services standards to facilitate partner companies in developing ELS interfaces for their services. These interfaces will enable rapid, seamless integration of partner services into the ELS’s dynamic, end-to-end loan process flow. Dorado will be developing an ELS Certification Program for these and other partners, ensuring that lender-selected services have been rigorously tested for compatibility with the Dorado ELS system.
What Dorado Partners are Saying About the Dorado ELS
“Dorado is the leader in giving lenders the flexibility to choose the vendors they want to work with,” said Mark Yellen, CEO, Appraisal.com. Appraisal.com and our 32,000+ appraisers are proud to announce our partnership with Dorado. This new partnership will bring new levels of tools and capabilities to the desktops of the nation's largest mortgage lenders. Lenders that desire to maintain relationships with appraisal management companies and also build direct relationships with independent appraisers will now be able to do so.”
“VMP Mortgage Solutions is always interested in participating in technology advancements that can improve and make the loan origination process more efficient for mortgage lenders,” John Bryant, senior vice president of banking for Bankers Systems and Wolters Kluwer Financial Services, said. “We’re pleased to expand our alliance partnership with Dorado to include this new initiative.”
“These days, anti-predatory lending and regulatory compliance are on every lender’s mind. Implementing and maintaining a compliance solution within the loan workflow can be a complex and costly proposition,” said John Vong, CEO of ComplianceEase. “The Dorado ELS enables lenders to centrally manage compliance rules that can be leveraged across all channels and products, without disruption to core business processes.”
“Overture and Dorado have lots of synergies,” said Bill Kelvie, Founder and CEO of Overture Technologies. “We have worked with Dorado in many capacities over the years, and we look forward to the new lender capabilities they will bring to the market with this introduction. The industry has been waiting for this for years, and we at Overture are excited to be a part of it.”
About The Dorado Enterprise Lending System
The Dorado Enterprise Lending System (ELS) is the industry’s first lending solution and service platform that enables unification of all loan channels, products, services, personnel, customers, and fulfillment partners through a single point of sale. It is designed to gracefully work with existing systems, allowing lenders to deploy a Unified Point of Sale (UPOS) strategy, which provides a centralized view and control of any loan, any channel, any user, and any partner, at any time. The Dorado ELS encompasses, enhances, integrates, and augments all Dorado product components, including ChannelMaster®, PriceMaster®, SourceMaster™, .MOR™, and third-party services, delivering one best-of-breed system for loan production. The Dorado ELS service-oriented architecture (SOA) enables rapid, cost-effective integration of people, information, systems, and services across multiple technology platforms, business channels, and partners.
About Appraisal.com
Appraisal.com provides the technology that is used by over 40,000 real estate appraisers in North America to run their businesses. The company’s Day One® product line has a 21-year track record with both independent appraisers and the appraisal departments of large lending institutions. In addition, the Appraisal.com Nationwide Appraisal NetworkTM connects mortgage lenders and real estate appraisers together on one seamless online transactional platform. Appraisal.com’s online transactional community allows lenders and appraisers who may have never met to work with each other in a secure environment. For more information, visit www.appraisal.com.
About ComplianceEase
San Francisco, CA-based ComplianceEase, a division of LogicEase Solutions Inc., is a premier provider of intelligent business solutions to the financial services industry. The ComplianceEase platform is the industry's first automated compliance solution to utilize advanced artificial intelligence reasoning and decisioning technologies as well as natural language processing. ComplianceEase powers beginning-to-end solutions at a fraction of the time and cost of the traditional approaches, while providing better accuracy and integrity. For more information, visit www.ComplianceEase.com.
About Overture
Overture offers Mozart AUS™, the next generation in Automated Underwriting. Mozart is composed of discrete business services that include “best fit” analysis, product eligibility, pricing for non-conforming or customized loan products, and stipulations and conditions. Mozart features a transparent English language authoring system, smart workflow, and a unique simulation capability that models the business impact of policies and decisions prior to their implementation. For further information please contact Overture at (301) 492-2141 or visit www.overturecorp.com.
About VMP Mortgage Solutions, Inc.
VMP Mortgage Solutions, Inc., a Bankers Systems, Inc. company, has been providing the mortgage lending industry and government agencies with leading-edge technology and forms solutions for more than 35 years.
Bankers Systems and VMP Mortgage Solutions are part of Wolters Kluwer’s Corporate & Financial Services division. Wolters Kluwer is a leading multinational publisher and information services company. The company’s core markets are spread across the health, corporate services, finance, tax, accounting, law, regulatory, and education sectors. Wolters Kluwer has annual revenues (2004) of €3.3 billion, employs approximately 18,400 people worldwide, and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its depositary receipts of shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
For more information about VMP Mortgage Solutions, visit the company’s web site at www.vmpmtg.com or call 800.521.7291.
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 160,000 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, Universal American Mortgage Corporation, and Washington Mutual. www.dorado.com
Copyright © 2005 Dorado Corporation. All rights reserved. Dorado ChannelMaster and Dorado PriceMaster are registered trademarks of the Dorado Corporation. Dorado, the Dorado logo, 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
|
|
