McLean, VA (August 16, 2013) – VirPack President and CEO Michael Coar, Jr., is one of three finalists to receive the Mortgage Technology Steve Fraser Visionary Award recognizing lifetime accomplishments as an outstanding mortgage technology innovator, visionary, or evangelizer. Coar founded VirPack, a leading provider of mortgage industry document management and Delivery solutions, capping a career of leadership in systems integration, software development and document management.
“We started VirPack in 1998 when the concept of a virtual loan package did not exist and no investor could accept an electronic loan file. The fact that it is commonplace today is a testament to the success of VirPack and the innovation of our team,” Coar said.
Coar is a 19 year veteran of the mortgage industry, notably serving as Fannie Mae’s Director of Imaging. Coar’s experience includes roles in software development and engineering at Compact Software (a CAD software engineering vendor), Image Business Systems and Price Waterhouse. He started VirPack to realize his vision of creating electronic mortgage loan files, paperless processing, and electronic delivery. He is motivated to provide the best imaging, document management, workflow, and Delivery solutions in the mortgage industry.
“Sharing our passion for paperless was our goal the day we founded VirPack. This nomination recognizes those efforts, which have always been driven by the support and confidence of our clients and partners over the years,” Coar said.
VirPack continues to experience strong growth, including a 46 percent increase in revenue last year, and is on track for healthy double digit revenue growth in 2013. VirPack recently moved into expanded headquarters and opened a new customer training center at 8300 Greensboro Drive in McLean, VA to accommodate increasing demand for VirPack’s industry-leading paperless solutions.
The Mortgage Technology Steve Fraser Visionary Award winner will be revealed at a ceremony October 27, 2013 at an event coinciding with the MBA Annual Convention in Washington, DC.
VirPack is the leading provider of document management and Delivery solutions for the mortgage industry. Founded in 1998, VirPack has pioneered many industry firsts and on-boarded virtually every major investor. VirPack’s award-winning technology drives the industry’s premier Delivery solution and its end-to-end paperless platform, Document Management and Delivery System. VirPack simplifies business processes throughout every step of the loan process resulting in increased efficiencies and significant enterprise-wide cost savings. Additional information may be found at www.virpack.com.Contact: Sheldon Ripson 636-751-5733 or R5CommunicationsLLC@gmail.com.