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VirPack has announced the launch of its Borrower Portal product, a Web portal that enables lenders using VirPack’s Document Management and Delivery System to provide their borrowers with a variety of Web-based capabilities to make the lending process more efficient and secure. The VirPack Borrower Portal presents borrowers with a list of documents they need to provide to the lender based on the loan type and purpose. Borrowers can securely upload the requested documents, securely download documents sent to them by their lender, monitor loan status and exchange secure messages with their lender and other loan participants.
“Our aim was to develop a Web portal for lenders to provide to their borrowers to reduce the time required by both the borrower and the lender during origination, loan processing and underwriting,” said Cy Brinn, chief operating officer at VirPack.
Through the use of VirPack’s Borrower Portal, lenders save time gathering documents and communicating with their borrowers resulting in a higher level of customer service that strengthens their borrower relationships. Internally, after a document is uploaded to a lender through the Borrower Portal, one or more lender staff receives notifications that the documents have been added to the borrower’s file. Lenders can use the Borrower Portal to request additional documents from the borrower and borrowers are able to go online to track their loan status and stay up to date with document requests and messages.
“We created the Borrower Portal with the objectives of enabling our lender customers to further extend the value and efficiency gains of their VirPack Document Management and Delivery System along with improving the efficiency of the document delivery and communication process with their borrowers” said Brinn.