Content area
Full text
CoreLogic, the data and analytics spin-off of the First American Corp., purchased mortgage technology vendor Dorado Network Systems for $32 million, Santa Ana, Calif.-based CoreLogic said.
CoreLogic previously held a 38% interest in San Mateo, Calif.-based Dorado, which specializes in software-as-a-service origination technology, including a loan origination system, point-of-sale tool, product and pricing engine, and other products.
In July, the U.S. Patent and Trademark Office issued a Notice of Allowance to Dorado for a patent application it submitted in April 2006. The patent, "Dynamic Workflow Architectures for Loan Processing," was granted for the workflow process used in Dorado's loan origination system, called ChannelMaster.
Other LOS platforms have a static workflow, meaning that there is a fixed order for the steps to process the...