VirPack announced that it has launched the VirPack Partner Network, which provides lenders with “One Click” access to service providers and investors as well as increased throughput, accuracy, and lower costs.
“The VirPack Partner Network was created to enable lenders, origination service providers and mortgage investors to integrate their services into the VirPack Document Management and Delivery System,” said Cy Brinn, VirPack’s COO. “VirPack is focused on providing expanded service ordering and investor delivery choices for lenders. We work continuously to provide them with increased origination efficiency and to help them achieve a zero defect rate when manufacturing mortgages.”
The VirPack Partner Network provides lenders and servicers with the ability to order and receive services throughout the loan lifecycle—from cradle to grave -- directly through VirPack’s Document Management and Delivery Platform. Lenders can also order services outside of their loan origination system, which reduces the time required to move documents into their document management system’s loan files while eliminating manual labor and filing errors. Clients will have more choices of service providers and pay lower fees than in the past.
“There is nothing like the VirPack Partner Network in the mortgage industry, which combines a Document Management and Delivery Platform with the benefits of unparalleled access to service providers,” said Brinn. “We spent time with lenders to understand their pain points and how they wanted them addressed. This is the forward-looking technology they sought to improve their processes, reduce costs, and improve accuracy.”
“The new features we provide for loan delivery receipt and two-way communications about loan delivery status and follow-on document requirements from investors was included for that purpose,” said Brinn.
“Ordering services through the VirPack Network means greater accountability and efficiency because documents ordered from a participating service provider are delivered automatically into the Document Management and Delivery Platform,” said Tony Eelman, chief operating officer at FBC Mortgage, LLC. “When we order services through this platform, we are buying them direct and can negotiate a price. That price is almost always lower than through a loan origination system.”