McLean, Va., May 23, 2014–VirPack,the leading provider of Document Management and Delivery technology for the residential mortgage industry, reports that more than 58% of loan files contained between 501-2,000, compared with 32% in 2012. According to the first VirPack Mortgage Origination Loan File Statistics Report, VirPack found that 20% of files originated by two clients were between 1,000 and 2,000 pages.

“The growth in the number of pages per loan file is due to additional CFPB and QM regulations, increased lender and investor scrutiny, increased penalties and buy back liabilities, as well as other related factors.” said Cy Brinn, VirPack’s COO.

There are several additional findings and trends that VirPack’s Loan Origination Report identified, such as the following:

  • The number of pages of documents in residential loan origination files continued to grow in 2014.
  • More than half of all residential loan origination files exceed 500 pages. The percentage of loan files containing more than 500 pages increased 26% in 2013 compared with 2012
  • In 2013, 58% of loan origination files contained 501-2,000 pages. In 2012, 32% of loan origination files contained 501-2000 pages.
  • The largest loan file put through VirPack’s Document Management and Delivery technology was 2,061 pages.
  • The average loan origination file across all loan file categories in 2013 included 488 pages, from 459 pages in 2012. The average size of a loan origination file in the fourth quarter of 2010 was just 405 pages.
  • The statistics in the report exclude loans with fewer than 200 pages because loan origination files of less than 200 pages are typically denied or withdrawn loans.

The data is based on loan origination page counts from the residential mortgage lenders using VirPack Document Management and Delivery System in 2013. The lenders using VirPack’s DMDS technology include financial institutions, independent mortgage bankers, and housing agencies that sell loans to Fannie Mae, Freddie Mac, Federal Housing Authority, Veterans Administration, and more than 200 institutional mortgage buyers. VirPack will issue its Loan Origination Statistics Report following the close of Q2 2014 and on six-month intervals after that.

About VirPack

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