Customized bundling on its way
March 11, 2003
First Am, Dorado sourcing platform offers vendor, transaction management
Inman News Features
The First American Corp. and the Dorado Corp. have partnered to create a sourcing platform for the mortgage industry that offers a full suite of vendor and transaction management, as well as bundling capabilities.
The platform, SourceMaster, will include interfaces to vendor service systems from Fannie Mae DU Connections and Freddie Mac LoanProspector.com, and is slated for release in second quarter 2003.
The platform features vendor access network (VAN)-independent technology that offers bundling capabilities to meet current and developing market opportunities. The bundling enables settlement service products, loan programs and consumer information to be linked together.
The system automatically creates a bundle, ordering those services needed and managing them through the completion of the loan transaction. "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," said First Am SVP Roger Hull.
The First American Corp. is a diversified provider of business information and related products.
Dorado Corp. provides mortgage, home equity and real estate products that integrate business customers and consumers into lending processes.
Copyright: Inman News Service