Fort Washington, Pa., and McLean, Va., June 3, 2014– LoanLogics,a recognized leader in loan quality management and performance analytics and VirPack, the leading provider of Document Management and Delivery solutions, announced today a technology partnership that combines the mortgage industry’s premier Document Management and Delivery offering with the most advanced loan performance analytics, management and monitoring platform.
“This partnership is all about removing the friction of delivering loan files for quality assurance and quality control by providing the significant benefits of two of the mortgage industry’s top service and technology providers, providing a seamless exchange between VirPack’s technology and the LoanLogics loan quality management platform, LoanHD®,” said Brian K. Fitzpatrick, CEO and President of LoanLogics. “This is another example of how we are expanding our LoanHD® AppQ Network™, an ecosystem of service and technology providers that enable us to provide enterprise-level loan quality management from pricing to payoff.”
“VirPack and LoanLogics completed this integration because it supports the ability of lenders, origination service providers and mortgage investors to simplify document management for loan quality audit reviews, improve efficiency and ensure accurate loan file shipments,” said Cy Brinn, VirPack’s COO. “Through integrations such as with LoanLogics, VirPack is providing lenders with expanded service provider options, more efficient service ordering, file preparation, delivery, tracking and results review.”
The result is that clients can gain the benefits of compliance with Consumer Financial Protection Bureau regulations, can perform real-time automated quality control, and can create an electronic paper trail for audits. In addition, the integration improves accuracy and eliminates the expense of manual management of loan file documents, while providing frictionless shipment of files to service providers and investors.
LoanLogics delivers the only automated platform in the mortgage business that scrutinizes loan quality and applies advanced analytics starting at prequalification and continuing through the life of the loan.
LoanLogics was founded nine years ago to improve the transparency and accuracy of the mortgage process and improve the quality of loans. LoanLogics serves the needs of residential mortgage lenders, servicers, insurers, and investors that want to improve loan quality, performance and reliability throughout the loan lifecycle. It develops advanced solutions that help clients validate compliance, improve profitability, and manage risk during the manufacture, sale and servicing of loan assets. Achieving these goals was the motivation in the development of the industry’s first Enterprise Loan Quality and Performance Analytics Platform. To learn more, visit www.loanlogics.com.
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.