First American Loan Processing Division and Dorado Deliver Form Joint Venture
|March 31, 2006|
SAN MATEO, Calif., /PRNewswire/ -- Dorado Corporation,and Frst American Fulfillment Solutions has partnered with Dorado to deliver a true end-to-end loan origination solution. Using the Dorado ChannelMaster(R)/POS and PriceMaster offerings, First American Fulfillment customers will now have the ability to leverage point-of-sale and pricing functionality when utilizing First American Fulfillment Solutions.
The offering creates a multi-client solution where First American Fulfillment customers can browse loan programs and pricing, select programs and rates, collect the loan application and submit to Fulfillment Solutions without the need for external systems or services. The offering will allow lenders the ability to rapidly expand their footprint or experiment with new markets without significant resource and technology constraints.
In addition to the partnership, First American Fulfillment Solutions has selected ChannelMaster(R)/POS and PriceMaster as their internal technology solution for a variety of loan officer and consumer related functions for the newly introduced Mortgage Lead Services offering. The Dorado technology will be used in conjunction with First Americans' state of the art call center technology, proprietary loan processing, workflow and decision systems to provide call center and processing solutions to the marketplace.
Dorado ChannelMaster/POS is a multi-channel, networked point-of-sale solution for home lending that connects dispersed users, disparate systems and business partners through a Unified POS, fostering real-time collaboration and communication. ChannelMaster also brings back-office workflow to the point of sale, enabling real-time status, decisioning, and service ordering. For bank managers, ChannelMaster provides centralized viewing and control of all loans from all channels, ensuring corporate goals are continuously being met. "First American & Dorado are using the power of the network to remove friction for major lenders. No other single company or partnership is doing this in the market today," said Frank Florence, SVP Marketing & Corporate Development for Dorado. "Before the Internet, this wasn't even possible. Our partnership with First American provides us with many joint opportunities to deliver innovative, integrated solutions for lenders that expand top line volume, deliver bottom line results, and accelerate time-to-market"
Source: Dorado Corporation