First American Introduces SourceMaster(TM) Powered by Dorado

March 10, 2003

A Next Generation Technology for Vendor and Transaction Management With Advanced Bundling Capabilities

SANTA ANA, Calif., /PRNewswire-FirstCall/ -- The First American Corporation (NYSE: FAF - News),a naitonal diversified provider of business information and related products and services, today announced that it has joined forces with Dorado Corporation to create SourceMaster(TM). SourceMaster is a next generation sourcing platform for the mortgage industry that provides a full suite of vendor and transaction management, and advanced bundling capabilities. SourceMaster will include interfaces to vendor service systems from Fannie Mae DU Connections and Freddie Mac LoanProspector.com. SourceMaster will be available in second quarter 2003.

SourceMaster gives customers a new Vendor Access Network (VAN)-independent technology that offers advanced bundling capabilities to meet current and developing market opportunities. Settlement service products can now be dynamically linked to loan programs and consumer information to meet the emerging need for bundles.

Bundling is the dynamic assembly of a set of settlement services products around loan program, property, borrower and lender characteristics. Dynamic means the system automatically creates a bundle on-the-fly, orders those services and manages through the completion of the loan transaction.

"This is comparable to Dell Computers in PC manufacturing," said Roger S. Hull, senior vice president and chief information officer with The First American Corporation. "Customers will be able to assemble a bundle for each individual order based on that individual's information, the property and the lender's risk parameters. Because it is VAN-independent, SourceMaster uniquely offers better vendor coverage, independent vendor performance measurement, advanced vendor management capabilities and better bundling support."

"Dorado is very proud to receive such a significant endorsement and support from this important partner," said Dain Ehring, chief executive officer of Dorado. "We are extending our demand chain management expertise from the midoffice of a premier lender to all of the vendors that support the loan completion process. The combination of Dorado's demand chain management technology and First American's track record of customer relationships and market access will make SourceMaster a success."

Source: The First American Corporation


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.