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With the integration of VirPack's API, electronically signed documents can be automatically accessed and retrieved from DocMagic's eSign platform, according to a press release. Additionally, these documents can be delivered to the appropriate recipient. The companies state that this is a more secure way of transferring sensitive borrower information to the correct recipient. According to the release, the integration centralizes a paperless environment in hopes to create a more efficient process and eliminate errors.
"This integration helps our mutual clients to efficiently automate document workflows and consolidate the retrieval and packaging of documents according to their specific preferences," said Steve Ribultan, director of business development at DocMagic. "Ultimately, we’re bringing a greater level of organization and centralization to bundling executed documents for borrowers, lenders and investors."
"Our technology focuses on improving operations by limiting manual intervention, reducing operational overhead and oversight, and increasing loan transparency,” said Wayland Pond, chief operating officer at VirPack.