Dorado and First Canadian Title Announce Exclusive Distribution of Dorado's Enterprise Lending System
|July 10, 2007|
SAN MATEO, Calif., July 10 /PRNewswire-FirstCall/ -- Dorado Corporation has entered into a strategic alliance with First Canadian Title, Canada's leading provider of title insurance and related products for real estate transactions, to be the exclusive distributor of Dorado's Enterprise Lending System to mortgage lenders and banks throughout Canada. Under the terms of the agreement, announced today, Dorado will be the only provider of loan origination solutions distributed by First Canadian Title.
Dorado's Enterprise Lending System streamlines the loan process from lead to funded loan and comprises the full range of Dorado offerings, including ChannelMaster POS, ChannelMaster Production, ChannelMaster Advisor, and PriceMaster products.
"The Canadian financial services industry is sophisticated and growing quickly. Lenders who prize efficiency are looking to meet their needs with the latest technology offerings," said David Wybrow, senior vice president, First Canadian Title.
"We are very excited to bring to our customers what we consider to be a leader in the industry of lending technology. Dorado's on- demand loan origination technology is a complementary component to First Canadian Title's end-to-end integrated lending solution."
ChannelMaster POS allows originators to submit loans, get programs and pricing, request automated underwriting and settlement services, and monitor status, all at the point of sale. Once the loan application package is submitted, ChannelMaster Production is used to manage fulfillment workflow through to funded loan.
ChannelMaster Advisor provides loan officers with an easy-to-use networked storefront solution for building personalized web sites and managing leads. Loan officers can build sites complete with photographs, contact information, testimonials, product offerings, calculators and helpful links, and corporate officials then have the opportunity to review all content for compliance, brand and policy issues, before it appears online.
Dorado PriceMaster is the pricing engine that gives lenders the ability to create a centrally managed, enterprise-wide catalog of loan programs and pricing. That information can then be distributed across all channels, dramatically increasing efficiency and giving lenders the ability to respond quickly, easily, and accurately to market conditions and changes in investor requirements.
"We are pleased to be working with such a well-known and well-respected company," said Dain Ehring, founder and chief executive officer of Dorado. "First Canadian Title and Dorado are bringing the power of the network to the Canadian mortgage marketplace. This alliance will bring unique value to First Canadian Title's customers and the Canadian mortgage lending industry."
Source: Dorado Corp.