Leveraging Dorado ChannelMaster and PriceMaster, the Dorado Unified POS platform provides an "underwriting highway" for brokers, which will underwrite up to 70% or more of Union Bank's loans, and shave 20-25% off approval times.

The new system has positioned Union Bank to significantly increase loan volumes without having to add staff. With the Dorado Unified POS, Union Bank's brokers now have the power to price and lock loans, order settlement services, submit exception requests, check loan status, and get automated loan approvals right at the point of sale. Loan data is electronically uploaded from the brokers' POS to Union Bank's new web-based platform.

"Implementing the Dorado Unified Point of Sale has been a dramatic and welcome change for our brokers, and for Union Bank," said Craig Cole, Union Bank's senior vice president of sales and marketing for residential lending. "Union Bank deals in very high balance loans to affluent clients, requiring streamlined underwriting and documentation. Prior to implementing the Dorado solution, our system was entirely manual, cumbersome and time consuming for our brokers and our staff. With our new streamlined processes, we are now equipped to handle more volume efficiently without hiring more staff. We selected Dorado because they offered the only solution that could automate our unique workflow, and it's starting to pay off."

Prior to implementing the Dorado POS, 100% of Union Bank's mortgage applications required manual delivery and underwriting, and brokers had no way of tracking loan status. Post-deployment, that number has already dropped to 80%, and Union Bank and Dorado are working together to decrease that number to 30% or lower. Even the loans ineligible for automated approval are electronically routed by the system to Union Bank's underwriting team for manual approval. The POS also supports brokers and secondary marketing by providing on-line locks and pricing options. Once a loan is approved, Dorado seamlessly delivers the loan data to Union Bank's system of record to finalize loan closure. In addition, brokers can view the status of every loan delivered to Union Bank without making time-consuming phone calls to Union Bank staff.

The Dorado Unified POS for Union Bank's wholesale channel comprises two products: Dorado ChannelMaster and Dorado PriceMaster. Dorado ChannelMaster provides point-of-sale access to the Dorado on-demand lending network, ensuring streamlined, best-of-breed loan production. ChannelMaster also facilitates communication and improves productivity by tightly integrating all participants in the mortgage process at the point of sale.

Dorado PriceMaster is a complete product and pricing system for the mortgage industry. Its rules-based decisioning engine enables centralized administration and rapid distribution of product, pricing, and eligibility rules across an enterprise from a single pricing desk. Both ChannelMaster and PriceMaster are built on a service-oriented architecture designed to leverage industry standards and protocols. This design makes integration with legacy LOS systems and external services faster, easier to maintain, and more cost-effective to implement.

"Union Bank of California needed automation in the face of complexity," said Dain Ehring, CEO, Dorado Corporation. "Only a system like the Dorado Unified POS, which delivers on-demand access to a network of home lending services and components, can address the requirements of a process as complex as Union Bank's. Now Union Bank can focus on best serving their client's needs, rather than worrying about which piece of paper is stuck where in a disjointed process flow."