Lenders seeking to build a more agile business use CoreLogic Dorado's ChannelMaster Production LOS as a fulfillment solution that consolidates back-office operations for all channels while integrating partners and service providers into the overall workflow. ChannelMaster Production LOS enables lenders to cost-effectively replace, or gradually transition away from end-of-life, resource-draining, or inflexible legacy production systems. It offers a secure, modular, and networked solution that is automatically and frequently updated to meet changing business needs.

ChannelMaster Production LOS delivers a fully automated electronic loan fulfillment solution that integrates and streamlines every step of originating, processing, underwriting, closing, and funding mortgage loans. Its modular architecture, open platform, and on-demand delivery dramatically reduce the cost of professional services customization and decrease development, delivery, and deployment time for even the most complex implementations.

Legacy Systems-Roadblock to the Agile Business

The agile business is able to keep pace with change. Agility in mortgage lending means being able to roll out new programs quickly, alter production workflow, begin using new services and applications, interact with partners, and make informed, enterprise-wide business decisions. ChannelMaster Production LOS empowers organizations to adapt to changing conditions in a seamless way, with minimal effect to business continuity.

Traditional loan origination systems (LOS) are built on obsolete technology that can slow you down. They offer poor interoperability and lack the ability to evolve. Attempts to replace these systems can require large capital investment and extended project timelines, often leaving lenders with many of the same problems with which they started.

Building an Agiile and Efficient Business

CoreLogic Dorado ChannelMaster Production LOS is a networked, loan fulfillment solution designed from the ground up to ensure that your business will never be locked-in to obsolete processes, programs, or technologies. ChannelMaster Production LOS accelerates loan processing time and enables you to:

• Eliminate product and channel "silos" in the back office.
• Centrally view and control enterprise-wide operations.
• Implement a best-of-breed loan production strategy by rapidly integrating appropriate partners and services into an open cloud computing-based system.
• Streamline operations with a rich Internet application and dynamic, event-driven process flows.
• Gracefully sunset existing LOS systems by replacing them with newer, modular, networked technology.

More Loans with Fewer People in Less Time

ChannelMaster Production LOS enables centralized viewing and control of all loans, channels, products, services, personnel, customers, and fulfillment partners. It offers one system for the production of all loans across the enterprise, including processing, conditions management, underwriting, closing, and funding.

By eliminating the chronic product and channel silos within a lending enterprise, ChannelMaster Production LOS gives you end-to-end visibility into all loans and loan production processes. This enables rapid adjustment of programs and processes across the enterprise to ensure business goals are continuously being met.

Loan processors, underwriters, and closers also have on-demand access to critical information and services. Access to these resources is determined dynamically, based on business rules, and can be easily adjusted to optimize processing efficiency, quality, and security.

Cloud Computing Agility

ChannelMaster Production LOS offers an unparalleled user experience that maximizes both efficiency and satisfaction through the use of rich Internet application (RIA) technology. Rich Internet applications leverage advanced Internet-based technology to provide sophisticated, client-side user interaction in a distributed, Web-based environment.

RIA provides a number of benefits to loan fulfillment. For example, underwriters and processors can efficiently work on multiple loans at once, and multiple users can view loan status, reducing the distractions caused by phone calls and faxes. This also enables loan files to seamlessly change hands as often as required.

ChannelMaster is built on top of CoreLogic Dorado's networked transaction management platform. This platform acts like an ERP system for the handling of electronic information, and enables many of the product's unique capabilities, including dynamic, event-driven process flows, which ensure maximum speed and flexibility. This means that with ChannelMaster Production LOS, one instance of a service–such as automated underwriting, pricing and eligibility, document ordering, credit ordering, appraisal, or a compliance check–can be leveraged across the enterprise and called upon at any time in the transaction process.

The transaction management platform also enables rapid, cost-effective integration of systems and services into the lender's process flows. This gives users in every channel on-demand access to CoreLogic Dorado's networked community of Internet-based applications and services. Services in this networked community can be leveraged at any point in the lending process, enabling a streamlined production strategy.

Product Features

• Flexible Organization & User Definition manages user authentication and associates roles with permissions and membership in organizational entities and workgroups.
• Regulatory Compliant workflow rules and a non-compliance alert system enable RESPA adherence.
• Pipeline Views let managers see an organization’s loans, filter them by user and status, and assign them to user or workgroup.
• Activity Plans define workflow and are automatically selected by loan data and business rules.
• Origination & Processing tools include create loan, pull credit, select program, lock, submit to AU, estimate closing costs, generate up-front disclosures, order settlement services, etc.
• Conditions are set by underwriters or created automatically from loan program stipulations and AUS findings; they are satisfied when originators or processors upload required documents.
• Underwriting Review includes an overview of all key data including qualifying ratios, credit reports, income, assets, liabilities, and appraisals.
• Underwriting Decisioning can include approve, deny, second look, suspend, and counter-offer.
• Closing activities include choosing and scheduling the closing agent, setting up title & vesting, reviewing taxes & insurance, calculating final fees, and generating the closing docs.
• Funding allows the setup, approval, and review of wire transfers.
• Post Closing includes collateral file audits, master audits, and post close documentation.
• Third-Party Services are accessed through a networked community of major providers; these include automated underwriting, settlement services, mortgage insurance, compliance checking, mortgage forms, etc.
• FHA and VA support includes case number and authorization management, MIP premium calculations, and maximum mortgage calculations.
• Document Generation of upfront disclosures (GFE & TIL) and closing documents is done using VMP’s RAKIS or Wolters Kluwer’s Expere® Dynamic Document Solutions service.
• Alerts, Notes, Attachments can be associated with any loan file.