The following are excerpts from the April edition of Mortgage Technology magazine. To read the full story and much more,
Mortgage Technology: Dorado recently had a big piece of news in getting acquired by CoreLogic. How is that going to affect you and the things you do at Dorado as you guys move forward?
Dain Ehring, co-founder and senior vice president of CoreLogic Dorado: When you talk about information processing, you’re talking about technology. And CoreLogic, what they’re looking at is needing the third leg of the stool. They recognize that for data, as well as information services, they need a technology offering, the third leg.
The vision is actually to influence one of every two loans in the next couple of years. We want to actually make them better. We want a higher quality in these loans, and we want to have an impact.
Mortgage Technology: How does cloud computing play a role in the implementation of mobile technology?
Dain Ehring: When you have a need for information, the information sources come from everywhere. And the more information you have, the better quality the loan is going to be and the more profit you’re going to make.
Nobody has any investment capital right now, so to be able to manage your investment in technology on a business outcome basis, or a closed loan basis, is crucial. That’s a hugely powerful concept for this industry and it’s actually really affected the adoption of the cloud.
It’s amazing when you think about these companies that traditionally would build technology in-house and the graveyard of all these CIOs who lost at trying to build in-house. There’s a whole new look to this industry right now where they’re now looking for technology partners.
Vladimir Bien-Aime, president and CEO, Global DMS: I’ve seen a trend and I would agree with that 100%. It’s always been around—before they called it the cloud, it was SaaS computing.
It’s been interesting for us to watch how things have evolved over the last decade because it’s all we’ve ever done. We did it because we couldn’t figure out another way to do it with the shoestring budget we had when we started. We needed a low staffing and instant deployment delivery. When I see other vendors in this industry with million-dollar system installs and six-month implementations, that’s a tough pill to swallow these days.
Mortgage Technology: Why is it so difficult to complete IT projects?
Steve DeBlasio, national sales manager, Axacore: We run into that a lot on the document management side because of our dealings with LOS’s. A lot of folks are attempting to be that “be all to everybody” type technology.
As it has been in the past, you’re starting to see that shift where vendors are saying “Let’s not try to be that one-size, we do it all firm.” When you try to be that do-it-all firm, you have a lot of fallout. It could market and sell well, it could demo well and be real sexy technology, but when we actually go in and start using it, six months later, you’re often like, “Wow, it really doesn’t do what we thought it did.”
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