VMP Mortgage Solutions and Dorado Corporation Strengthen Alliance25 October 2005
VMP(R) MortgageSolutions, Inc. and Bankers Systems, Inc., both a part of Wolters KluwerFinancial Services, and Dorado Corporation, providing the on-demand network atthe lender point of sale, today announced that Dorado will offer VMP andBankers Systems' Expere(R) Integrated Enterprise (Expere IE) solution as anintegrated Web service. Access to the Expere IE Web service will be availableas a standard feature of Dorado Unified Point-of-Sale solutions -- the DoradoEnterprise Lending System and Dorado ChannelMaster(R). Expere IE is an open-architecture technology and content solution thatenables financial institutions to author, select, assemble, and managecompliance documentation across their entire enterprise according to the rulesspecified by their unique business practices, including mortgage and homeequity. The Expere IE solution serves as a central repository for themultitude of data comprising an institution's documents. When data is added,deleted, or changed in the repository, appropriate updates are automaticallymade to all of the documents -- allowing an institution to use a singledocument library instead of multiple ones. This helps the institutionincrease the efficiency, consistency, and accuracy of all of its documents. The Dorado Enterprise Lending System is based entirely on aservice-oriented architecture that enables rapid, cost-effective integrationof people, information, systems, and services into a lender's workflow. Thesolution's unique architecture enables services to be leveraged across theenterprise and called upon at any time in the production process, deliveringdynamic, event-driven process flows to ensure maximum speed and flexibility.It is the industry's first lending solution and service platform that enablesthe unification of all loan channels, products, services, personnel,customers, and fulfillment partners through a single point of sale. DoradoChannelMaster is a comprehensive, networked point-of-sale (POS) solution forhome lending that also provides the POS component of the Dorado EnterpriseLending System. The alliance with Wolters Kluwer Financial Services also provides Doradoclients the opportunity to process electronic loan data against establishedcompliance mandates. Through a seamless integration with compliancetechnology provided by PCi Corporation, a Wolters Kluwer business, clientswill have direct access to a comprehensive set of web-based compliance reviewssuch as anti-predatory lending, HOEPA, HMDA/CRA edit checks, fair lending,geocoding, fraud, and flood determinations. The PCi suite of compliancechecks reviews every loan against applicable laws quickly, efficiently andeconomically -- without impeding loan production or service. "By applying the same logic traditionally used by the compliancedepartment to the front-end of the loan process, lenders can ensure that allloans are compliant prior to funding or purchase as well as significantlylower the cost of compliance", said Todd Cooper, chief product manager for PCiCorporation. "One of the key reasons we developed the Enterprise Lending System was toempower lenders to adopt a 'best-of-breed' vendor strategy for loanproduction," said Dain Ehring, chief executive officer of Dorado Corporation."One way we do this is by providing lenders with point-of-sale access to theDorado on-demand network of home lending applications and services. Thispartnership is a perfect example of how Dorado is building the on-demandnetwork for our customers. From an operational standpoint, the integrationwill save lenders significant time and money by automating document selection,assembly, and packaging. We are proud to have Wolters Kluwer FinancialServices providing a native document solution for the Enterprise LendingSystem." "Expere IE uses flexible, scalable technology to give lenders the power toclose loans faster and decrease time to market. By using Wolters KluwerFinancial Services' proven compliance content, the solution also reduceslenders' risk of using obsolete documentation," John Bryant, senior vicepresident of banking for Wolters Kluwer Financial Services, said. "Theintegration of Expere IE and PCi's suite of compliance checks with the DoradoEnterprise Lending Systems will give the mortgage lending industry a new,unprecedented level of control over document production." About VMP Mortgage Solutions, Inc. VMP Mortgage Solutions, a part of Wolters Kluwer Financial Services, hasbeen providing the mortgage lending industry and government agencies withleading-edge technology and forms solutions for more than 35 years. To learnmore about VMP Mortgage Solutions, visit http://www.vmpmtg.com or call800.521.7291. Wolters Kluwer is a leading multinational publisher and informationservices company. The company's core markets are spread across the health,corporate services, finance, tax, accounting, law, regulatory, and educationsectors. Wolters Kluwer has annual revenues (2004) of Euro 3.3 billion,employs approximately 18,400 people worldwide, and maintains operations acrossEurope, North America, and Asia Pacific. Wolters Kluwer is headquartered inAmsterdam, the Netherlands. Its depositary receipts of shares are quoted onthe Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100indices. About Dorado Corporation Dorado Corporation delivers an on-demand network of applications andservices to the home lending point of sale. Dorado's innovative network-basedsolutions are utilized by numerous top- and emerging-tier lenders and todayenable more than 190,000 lending professionals to increase efficiency andproductivity at the point of sale. The solutions also drive cross-sell/up-sell opportunities by increasing workflow flexibility and simplifyingtechnology integrations for leading lenders such as Chase Manhattan MortgageCorporation, Citi, Countrywide Home Loans, and Washington Mutual.http://www.dorado.com Bankers Systems Inc. and Expere are registered trademarks of BankersSystems, Inc. VMP is a registered trademark of VMP Mortgage Solutions, Inc. All other trademarks are the property of their respective owners.
Source: PR Newswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
Related Articles
|