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

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 quickly roll out new programs, alter production workflow, begin using new services and applications and interacting with partners, make informed, enterprise-wide business decisions, and of course, decrease turn time.

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

Home lending technology has not traditionally been engineered for the agile business – until now.

Building an Agile and Efficient Business

Dorado ChannelMaster Production 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 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 solution
• 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

Dorado ChannelMaster Production is the industry’s first networked, multi-channel loan fulfillment solution. This means that it 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 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.

ChannelMaster Production 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 a single networked platform—the Enterprise Lending Platform. The platform 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, 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 process.

The Enterprise Lending 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 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 "best-of- breed" production strategy.

ChannelMaster Production delivers a fully automated 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.

Product Features

• Flexible Organization & User Definition manages user authentication and associates roles with permissions and membership in organizational entities and workgroups.
• Pipeline Views let managers see an organization’s loans, filter by user and status, and assign 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 or fax in 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 including 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 support including 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.