Dorado Enterprise Lending System Streamlines Lending Process for Canadian Banks
OAKVILLE, Ont., Oct. 31, 2007 � First Canadian Title, Canada�s leading provider of title insurance, announced today that it is now an exclusive distributor of the Dorado Corporation�s Enterprise Lending System, a premier lender origination solution for Canadian mortgage lenders and banks.
�Lenders prize efficiency and are constantly seeking the latest technology solutions in addressing business needs,� said David Wybrow, senior vice president, First Canadian Title. �Dorado�s leading, on-demand loan origination technology is a complementary component to First Canadian Title�s end-to-end integrated lending solution.�
Dorado has built a customer base of more than 350,000 currently using its Enterprise Lending System, a technology platform utilized by some of the largest financial institutions in the United States, to reduce costs, increase productivity and streamline and simplify the loan process for lenders.
�We are very excited to have First Canadian Title as our exclusive distribution partner in Canada,� said Dain Ehring, founder and chief executive officer of Dorado Corporation. �First Canadian Title has a great brand and excellent relationships within the Canadian financial industry, which is highly sophisticated and growing quickly.�
Under the agreement, First Canadian Title will distribute the full range of Dorado�s products, including ChannelMaster POS, ChannelMaster Production, ChannelMaster Advisor, and
- 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.
- ChannelMaster Production is used to manage fulfillment workflow through to funded loan after a loan application package is submitted.
- ChannelMaster Advisor provides loan officers with a 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, allowing corporate officials 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. This information can then be distributed across all channels, increasing efficiency and giving lenders the ability to respond quickly, easily and accurately to market conditions and changes in investor requirements.
About Dorado Corporation
Dorado Corporation is the only Enterprise Lending Automation Company that gives banks a Network to streamline the loan process from start to finish. Targeting large and emerging lenders in the United States and Canada, Dorado�s collaborative environment connects data and documents with practices and people, enabling over 350,000 lending professionals to increase productivity and better serve their customers. Leading lenders including Chase, Countrywide, Everbank, Fifth Third Mortgage, First Horizon Home Loans, GMAC Mortgage, PHH Mortgage, PNC Consumer Services, Union Bank of California, and Washington Mutual have adopted Dorado solutions. www.dorado.com
About First Canadian Title
First Canadian Title is Canada�s leading provider of title insurance, and other related products and services for residential and commercial real estate transactions. Founded in 1991 and based in Oakville, Ontario, First Canadian Title employs approximately 1,000 people from coast to coast. Its customers include more than 15,000 lawyers and notaries nationwide, every major Canadian chartered bank, credit unions, other lending institutions, real estate agents, mortgage brokers and builders. First Canadian Title is the registered business name of FCT Insurance Company Ltd. and of the Canadian branch of First American Title Insurance Company. For more information about First Canadian Title, please visit www.FirstCanadianTitle.com
About The First American Corporation
The First American Corporation (NYSE: FAF), a FORTUNE 500® company that traces its history to 1889, is America�s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people�s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information and First Advantage. With revenues of $8.5 billion in 2006, First American has approximately 2,100 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.