VirPack has announced that it has released an interface to the mortgage insurance (MI) system of National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings Inc. The interface enables lenders using VirPack’s Document Management and Delivery system to very efficiently transmit loan documents that are required for MI underwriting directly to National MI. The interface between VirPack and National MI is designed to save lenders time and to increase accuracy by automating the process of sending documents to National MI with VirPack’s “One Click” delivery technology.
“VirPack and National MI developed the integration because it provides a faster, more efficient and accurate way for National MI to collect the documents necessary for it to make a decision on issuing and pricing insurance,” said Cy Brinn, VirPack’s COO.
“As a result of the integration, we are able to order services and securely deliver the documents that National MI requires to issue mortgage insurance,” said Tony Eelman, COO at FBC Mortgage LLC. “We are leveraging this platform because it improves accuracy, reduces costs, and helps us to preserve our competitive advantage through advanced technology.”
FBC Mortgage LLC, a Sterne Agee Group Company, is a national mortgage lender based in Orlando that works with borrowers, as well as many of the largest real estate firms and builders in the U.S.
“We’re pleased to have this direct integration with VirPack’s top-flight document management and delivery system,” said Pete Pannes, chief sales officer at National MI. “Our integration with VirPack is part of our ongoing commitment to our lender customers to make doing business with National MI as easy as possible. We believe our mutual customers will benefit from the time- and cost-savings realized with the integration.”
