Industry News

Technology partners developing new platform for lenders

First American, Dorado announce plans to launch new product

Officials at First American Corp. and Dorado Corp. on Tuesday announced they are jointly developing a common, unified point-of-sale platform to provide lenders with on-demand loan processing and fulfillment. The new system is expected to be launched by the end of first-quarter 2006. The platform combines Dorado's ChannelMaster lending software and SourceMaster ordering software with First American's Vendor Management platform, according to the companies' announcement. In May 2005, Dorado and First American announced a strategic partnership developer a more unified approach to mortgage lending. "This approach aims to transform mortgage origination from a compartmentalized process with frequent starts and stops into a highly integrated, open and dynamic process that enables the best execution from both a customer service and lender operations perspective," according to the announcement. The companies now provide integrated point-of-sale solutions to: EverBank, Oak Street Mortgage and U...