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Lenders Adapt to Tightening Investor Guidelines
Lenders use Dorado’s rules-based catalog to quickly implement product and pricing changes
San Mateo, Calif.—May 16 , 2007—From subprime to Alt-A, mortgage lenders are reviewing and re-writing their lending guidelines to reflect rapidly changing market conditions and new demands from investors in the secondary market. In this environment, adaptable loan product and pricing systems such as PriceMaster from Dorado can provide a substantial competitive advantage.
As a networked solution, PriceMaster gives lenders the ability to create a centrally managed, enterprise-wide catalog of loan programs and pricing, and then distribute that information across all channels. This eliminates the need to manage pricing changes across multiple systems. Because of its inherent mortgage industry specialization and superior usability, PriceMaster dramatically increases the efficiency of loan product management, providing faster time-to-market for loan programs and delivering up to the minute mid-day pricing changes to every channel. The product gives lenders the ability to respond quickly, easily, and accurately to market conditions and changes in investor requirements.
“Having PriceMaster has ensured that we can quickly change guidelines and pricing to ensure that loans in the pipeline are compliant with the latest changes,” said Kathleen Kerstetter, President of Aegis Home Equity. “We do not need to rely on our IT staff to make these critical changes.”
“PriceMaster is now the standard for flexibility and adaptability for mortgage product and pricing,” said Dain Ehring, founder and chief executive officer of Dorado. “Previously, lenders had to rely on pricing engines that were part of the LOS or POS. Making a change to pricing or products would mean working through these disparate loan origination and fulfillment systems. With PriceMaster’s stateless nature, all changes, including those necessitated by revised investor guidelines, can be managed with minimal or no impact to the LOS or POS, with no IT involvement. We are very excited to continue working with existing PriceMaster customers and, as their partners, ensuring their success in these changing times.”
Dorado Corporation
Dorado Corporation is the only Enterprise Lending Automation Company that gives banks a Network to streamline the loan process from start to finish. Targeting large and emerging lenders in the United States and Canada, Dorado’s collaborative environment connects data and documents with practices and people, enabling over 360,000 lending professionals to increase productivity and better serve their customers. Leading lenders including Aegis Home Equity, Chase, Countrywide, Everbank, Fifth Third Mortgage, First Horizon Home Loans, GMAC Mortgage, GreenPoint Mortgage, PHH Mortgage, PNC Consumer Services, Union Bank of California, and Washington Mutual have adopted Dorado solutions. See www.dorado.com
Copyright © 2007 Dorado Corporation. All rights reserved. The Dorado logo, ChannelMaster, and PriceMaster are registered trademarks 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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