McLean, Va., April 4, 2014–VirPack, the leading provider of document management and delivery technology, was named to the inaugural HW TECH100 list, recognizing the most successful, innovative technology companies spanning residential real estate to residential mortgage lending, servicing and investments.
VirPack was awarded the honor for its Document Management and Delivery System that enables its customers to drive efficiencies throughout the loan process by leveraging rules based tasking and workflow, loan checklists with condition tracking, “one click” delivery to over thirty investors and third party service providers and the company’s Automated Document Indexing module with full text OCR. Firms were assessed based on the degree to which their technology was innovative such as a unique solution, an elegant implementation, market influence, growth, and market potential.
“Since VirPack opened its doors, we have taken great pride in the innovative solutions that our team has designed and brought to market, and we are thrilled that HousingWire recognized our success,” said Michael Coar, President and CEO of the company. “Each year, we have been first to market with technology that improves, and more than occasionally, revolutionizes the mortgage process. The result has been great acceptance by the marketplace and that accounts for the growth of VirPack.”
“With more than 400 firms under consideration this year, selecting 100 was incredibly difficult – and making the cut should be considered a distinct honor. What really stands out to me is this: for the firms included in the 2014 HW TECH100™, the average reported customer growth rate year-over-year was a whopping 359 percent. This tells me that innovation is really taking off when it comes to the future of the housing economy,” said Jacob Gaffney, Executive Editor of HousingWire.
VirPack is the leading provider of document management and delivery solutions to the mortgage industry. Founded in 1998, VirPack has pioneered many industry firsts, such as the first vendor to support electronic investor loan delivery in 2004. VirPack supports more than 30 “One Click” deliveries to major investors and service providers in the mortgage industry. VirPack’s platform also automates the stacking and packaging of loan files to more than 50 additional investors and service providers. VirPack’s award-winning technology drives the industry’s premier delivery solution and its end-to-end paperless document management platform. VirPack simplifies the loan process and creates increased efficiency, helps ensure compliance, and provides significant enterprise-wide cost savings. For additional information, visit www.virpack.com.
About the HW TECH100 List
The HW TECH100 looks to find the housing economy’s 100 most innovative technology companies. The annual program looks at the entire housing economy, spanning residential real estate to residential mortgage lending servicing and investments. Collectively, the housing economy represents roughlyone-third of the U.S. economy, and more than 600 technology firms and dot-coms offer solutions that serve this market. HousingWire magazine covers residential mortgage lending, servicing, investments and real estate operations.