Acris Technology, formerly Acris Solutions, has unveiled Mortgage VCO, an end-to-end, cloud-based “virtual corporate office” suite of software applications, IT and consulting services that enable any mortgage lender to run a compliant, scalable, paperless mortgage business without the expense and complexity of on-site servers, software, maintenance and upgrades. Developed and refined over a period of 12 years, Mortgage VCO had been in use privately for years by Laguna Hills, Calif.-based Millenia Mortgage to process more than $10 billion in funded loans and is now available to mortgage bankers, regional and community banks, credit unions, and other mortgage lenders.
Mortgage VCO’s suite of solutions includes cloud-delivered virtual desktops, sophisticated loan origination and processing software, paperless document storage, digital signature technology, IP telephony, and mortgage-specific consulting and IT services. As a virtual, cloud-based office solution, Mortgage VCO drastically reduces lenders’ IT costs so they can focus on what matters: closing more loans in less time. It also removes all geographical boundaries from a lender’s hiring criteria and integrates all communications among all parties —including e-mails and phone calls—into the mortgage production process, enabling ultimate transparency and accountability within a lender’s operations.
"The enormity of the changes sweeping through the mortgage industry is having a fundamental effect on how lenders do business,” said Richard Johnston, president of Acris Technology. “If there was ever a time to reinvent the mortgage office, this is it. For the first time, lenders can have one office solution that does everything they need it to do and more—including a completely integrated communications platform that provides total control over leads and call campaigns, and the ability to run an entirely paperless operation. Simply put, Mortgage VCO makes lenders’ lives easier and more productive.”
The Mortgage VCO suite begins with the VCO Desk platform, which delivers a Windows desktop environment to any computer, laptop, thin client, iPad or tablet PC with a high-speed Internet connection. VCO Desk also includes the Microsoft Office suite and MS Exchange Server. Any third-party or proprietary software can also be hosted and delivered through VCO Desk’s secure Citrix environment. Each of the five separate components described below can be added individually or together as part of the integrated suite:
►VCO Lend: Loan origination and processing software that lets lenders enjoy increased productivity from their sales and processing teams, get real-time visibility into their operations and staff, reduce errors and ensure complete, compliant loan files. Designed for a compliance-driven marketplace, VCO Lend features highly-advanced task parsing and file queuing technology, custom rules-based workflow management, real-time performance reporting, incentive-based compensation, lead tracking and distribution, and comprehensive secondary marketing tools. VCO Lend allows multiple people to collaborate on the same file at the same time, improving turn times from application to funding. VCO Lend is packed with features yet can be fully customizable to a lender’s unique business needs.
►VCO File: An easy-to-use paperless document management and hosted storage solution that integrates seamlessly with VCO Lend and other loan origination systems, VCO File saves time, money, and eliminates the need for on-site servers and file cabinets, enabling instantly-searchable digital file sharing anywhere, anytime.
►VCO Sign: A digital electronic signature tool that uses public key encryption to ensure security, turbo-charging a lender's pre-disclosure and document signing processes.
►VCO Link: Provides seamless integration links with a variety of title, escrow, flood, credit, appraisal management, compliance and other settlement service providers – plus the ability to integrate with most pricing or automated underwriting engines.
►VCO Voice: Based on IP-PBX technology, VCO Voice integrates call center phone service capabilities into the mortgage production process, with features such as a CRM-driven dialer that provides click-to-dial capabilities directly from a borrower’s file and the ability to have a borrower’s loan file appear on the loan officer's screen when the borrower calls. Integrated call reporting ensures company-wide accountability and performance monitoring.
“It’s important to understand that while Mortgage VCO is new to the market commercially, it is a tried and proven platform that benefited from full-time developers and mortgage banking professionals, working side-by-side for many years—with innovation and process improvement as two of our primary core values,” said Martin Williams, chief executive officer of Acris Technology. “We believe it’s the ultimate complete office solution for mortgage lenders that want to minimize overhead costs and IT complexity, increase efficiency and improve business processes.”