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Dorado Continues Rapid Growth in 2006; Number of Registered Users
Jumps to 350,000
Introductions of ChannelMaster 4.0 and PriceMaster 4.0 accelerate move toward end-to-end network-based automation of mortgage origination and fulfillment
San Mateo, Calif.—January 30, 2007—Dorado Corporation continued to grow rapidly during 2006, adding 150,000 new registered users of its mortgage lending technology, and introducing new versions of its flagship products, ChannelMaster and PriceMaster. At year-end, Dorado solutions were supporting over 350,000 loan officers, brokers, and processors industry-wide, an increase from 200,000 at year-end 2005. The company now counts three out of the five largest lenders in the country as customers. The big increase in users of Dorado solutions was due to several new lenders’ implementations coming online during the year, as well as to increased adoption of existing Dorado products. “While it was a challenging year for the mortgage industry as a whole, our technology solutions give lenders the flexibility to compete profitably in any business environment,” said Dain Ehring, chief executive officer at Dorado. “We are very pleased
that lenders recognize this advantage, have chosen Dorado, and are increasingly using Dorado’s products.”
Dorado’s rapid growth during 2006 and previous years earned the company a spot on Inc. Magazine’s Inc. 500 list of America’s fastest-growing companies. In addition, the company was a recipient of the 2006 MAX Award Winner from Adobe Systems Incorporated (Nasdaq: ADBE), recognizing Dorado’s innovative use of rich Internet application technology in its ChannelMaster 4 product. ChannelMaster 4.0 is the industry’s first networked, multi-channel loan fulfillment solution that enables lenders to consolidate back-office operations and integrate partners and service providers into their fulfillment workflow. By eliminating product or channel-centric silos within a lending enterprise and by connecting loan production resources, ChannelMaster provides centralized control over end-to-end operations across the lender’s entire business, incorporating every channel, every branch, every product, every process, every partner, and every user. This, in turn, enables rapid adjustment of programs and processes across the enterprise to ensure business goals are continuously being met.
The year past also saw the introduction of PriceMaster 4.0, which enables business users to rapidly create new loan programs and risk-based pricing that can be quickly delivered to every channel and business unit with no IT involvement.
“Last year’s introduction of ChannelMaster 4.0 and PriceMaster 4.0 represented major steps forward in our efforts to automate and streamline mortgage origination and fulfillment for our customers and their borrowers,” said Mr. Ehring. “We believe that 2007 will be the year in which the idea of the ‘networked’ lending system will come of age.”
Dorado Corporation
Dorado Corporation delivers an on-demand network of home lending applications and services that enables lenders to be more agile. Targeting large and emerging lenders in the United States and Canada, Dorado’s innovative, network-based solutions enable over 350,000 lending professionals to increase productivity and better serve their customers. Dorado solutions have been adopted by many leading lenders, including Chase Manhattan Mortgage Corporation, Countrywide Home Loans, and Washington Mutual. www.dorado.com
About Adobe Systems Incorporated
Adobe revolutionizes how the world engages with ideas and information – anytime, anywhere and through any medium. For more information, visit www.adobe.com.
Copyright © 2007 Dorado Corporation. All rights reserved. The Dorado logo, Dorado ChannelMaster and Dorado PriceMaster are registered trademarks of the Dorado Corporation. The Dorado nameis a trademark of Dorado Corporation. Other company and/or product names may be trademarks or registered trademarks of their respective companies.
Press contact:
Mike MacMillan / Chris Sullivan
MacMillan Communications
212-473-4442
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