LoanLogics and VirPack have announced a technology partnership that combines the mortgage industry’s premier document management and delivery offering with the most advanced loan performance analytics, management and monitoring platform.
“This partnership is all about removing the friction of delivering loan files for quality assurance and quality control by providing the significant benefits of two of the mortgage industry’s top service and technology providers, providing a seamless exchange between VirPack’s technology and the LoanLogics loan quality management platform, LoanHD,” said Brian K. Fitzpatrick, CEO and president of LoanLogics. “This is another example of how we are expanding our LoanHD AppQ Network, an ecosystem of service and technology providers that enable us to provide enterprise-level loan quality management from pricing to payoff.”
“VirPack and LoanLogics completed this integration because it supports the ability of lenders, origination service providers and mortgage investors to simplify document management for loan quality audit reviews, improve efficiency and ensure accurate loan file shipments,” said Cy Brinn, VirPack’s COO. “Through integrations such as with LoanLogics, VirPack is providing lenders with expanded service provider options, more efficient service ordering, file preparation, delivery, tracking and results review.”
The result is that clients can gain the benefits of compliance with Consumer Financial Protection Bureau regulations, can perform real-time automated quality control, and can create an electronic paper trail for audits. In addition, the integration improves accuracy and eliminates the expense of manual management of loan file documents, while providing frictionless shipment of files to service providers and investors.
LoanLogics delivers the only automated platform in the mortgage business that scrutinizes loan quality and applies advanced analytics starting at prequalification and continuing through the life of the loan.