FIRST AMERICAN’S VENDOR MANAGEMENT SERVICES AND DORADO ANNOUNCE CO-MARKETING AND DISTRIBUTION AGREEM
—Strategic Relationship Will Streamline Customer Access to Mortgage Vendor Management Products and Services—
March 13, 2002, ATLANTA
Vendor Management Services, Inc. (VMS), the nation’s leading vendor management products and services provider, and Dorado Corporation, the leader in demand chain management for mortgage banking, today announced a strategic co-marketing and distribution agreement.
Under the terms of the agreement, VMS, a wholly-owned subsidiary of The First American Corporation (NYSE: FAF), will market and distribute Dorado’s mortgage demand chain management products, which are Internet application suites that attract, sell and retain customers for the retail and wholesale mortgage sales channels. Dorado will integrate VMS’ technology platform, TheVendorManager™, with its retail and wholesale ChannelMaster software products, instantly making all VMS services available to existing and future Dorado customers.
“A goal of VMS is to provide our key First American customers with a set of value-added services and enabling-technologies that streamline the real estate transaction process while providing our lender partners with profit-sharing opportunities,” said Roger Hull, chief information officer of The First American Corporation. “We expect the Dorado relationship will add value to our existing and future clients.”
“Our customers and Dorado are very pleased to have this strategic agreement in place for marketing and distributing VMS services,” said Dain Ehring, founder and chief executive officer of Dorado Corporation. “We believe VMS and First American are the clear leaders in their field. We know the partnership will provide immediate value to our customers and the mortgage industry.”
About VMS and First American
VMS provides national and regional mortgage lenders with a complete menu of solutions designed to reduce the cost of their operations, enhance the performance of their vendors and create new sources of revenue that add to the lenders’ net earnings. Information on VMS’ Bottom Line Solutions, which include technology, workflow management, vendor management and new revenue generation, can be found on the company’s Web site at www.tvmsi.com.
Tracing its history to 1889, The First American Corporation (NYSE: FAF) is the nation’s leading, diversified provider of business information and related products and services. The corporation’s three primary business segments include: title information and services; real estate information and services, which includes mortgage information services and database information and services; and consumer information and services, which provides automotive, subprime and direct-to-consumer credit reporting; direct-to-consumer public records reporting; resident screening; pre-employment screening; automobile title administration; property and automotive insurance tracking services; property and casualty insurance; home warranties; investment advisory; and trust and banking services. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com.
About Dorado Corporation
Dorado Corporation is the leader in Demand Chain Management (DCM) solutions for the mortgage industry. Dorado Retail ChannelMaster™, Wholesale ChannelMaster™ and PriceMaster™ are Internet application suites that attract, sell, and retain customers for the retail and wholesale mortgage sales channels. Dorado’s customers include Chase Manhattan Mortgage Corporation, Washington Mutual, First Horizon Home Loans, GreenPoint Mortgage, and H&R Block Mortgage. For more information, please visit www.dorado.com.