VIENNA, VA ‐‐ VirPack, a leading provider of electronic loan delivery and imaging solutions for the mortgage industry, officially launched its next generation end‐to‐end paperless solution, Enterprise Center 2.0 (DMDS 2.0). In conjunction with this best of breed technology launch, the company also introduced a new face to the public via a new brand and Web site ‐‐ www.virpack.com.
Built directly from customer and partner feedback, some Enterprise Center 2.0 functionality highlights include:
- TaskQ, a proprietary application, which allows for customized workflow by tasking the loan through each step of the loan process. The loan can be tasked to an individual or a team and the application provides task reporting and also manages task duration and performance.
- A secure and lender branded Web Portal for quick and easy document submission by both originators and borrowers.
- A pre‐delivery loan validation which conducts a loan‐level audit and prevents the delivery of a loan that is missing investor required documents.
- An enhanced viewing interface that features a new content indicator and a VirPack history panel, displaying each action in the loan and task history.
“VirPack has always had a strong client‐focused philosophy and over the past 18 months as the mortgage industry recalculated itself, we took the time to truly understand what clients wanted from an imaging partner. What they shared is in Document Management and Delivery System 2.0,” said Michael J. Coar Jr., VirPack’s president and chief executive officer. “Imaging, paperless loan processing and Delivery are VirPack’s core competencies ‐‐ we own the design, development and implementation of our solution and when incorporating DMDS 2.0 into their processes, lenders will realize significant cost savings at every stage of the mortgage process.”
Document Management and Delivery System 2.0 is the one solution that provides lenders a single platform for paperless operation from origination through post‐closing, including fully indexed Delivery to investors, the Department of Housing and Urban Development (HUD) and other business partners.
“VirPack has been a valuable and integral partner of EverBank’s success for nearly a decade. We have been piloting the new 2.0 version and are excited about rolling out its tasking and the image upload portal features, which will decrease our email attachment delivery server traffic and allow the entry of electronic document submission directly from our customer to the imaging platform,” said Paul Ottendorf, EverBank’s Wholesale National Operations Manager. “In addition, the TaskQ feature of DMDS 2.0 will fully blend tasking and workflow to the imaging platform, which is one of the most exciting aspects of development teamwork, and will take us to the next level of efficiency and reporting. VirPack has done a fantastic job of listening to our needs and have worked diligently to develop solid enhancements that directly meet the needs of our institution.”
Partnership with Arbor Day Foundation
To support its passion for paperless and in conjunction with the launch of Document Management and Delivery System 2.0, VirPack announced an annual program in partnership with the Arbor Day Foundation. VirPack will support the Arbor Day Foundation’s reforestation program, which focuses on replanting America’s National and State Forests. For one calendar year, VirPack will plant one tree for every 10,000 pages imaged by VirPack clients, and, to kick off the partnership, VirPack will plant 2000 trees on behalf of its current clients. The U.S. Forest Service will determine the forests and areas where the need is the most critical.
“VirPack has been and continues to be passionate about paperless, and we truly feel that the launch of Document Management and Delivery System 2.0 will be revolutionary for clients. Partnering with the Arbor Day Foundation to help replant our Nation’s Forests on behalf of our clients is a small but important way to say thank you for imaging with VirPack,” said Coar.