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McLean, Va., June 11, 2014–VirPack,a leading document management and delivery solution provider to the residential mortgage industry, announced that FBC Mortgage, LLC has selected and deployed VirPack’s Document Management and Delivery System.

FBC Mortgage, LLC, a Sterne Agee Group Co., is a national mortgage lender based in Orlando that works with borrowers, as well as many of the largest real estate firms and builders in the U.S. The firm has proven expertise in residential mortgage lending, from purchasing to refinancing to construction lending.

“FBC Mortgage is focused on originating mortgages as efficiently and cost-effectively as possible while ensuring compliance with federal, state, and investor regulations and requirements. We leverage technology wherever possible to make it as easy and as fast as possible for borrowers, loan producers, and our processing staff to originate loans with FBC,” said Tony Eelman, Chief Operating Officer at FBC Mortgage. “We have created competitive advantages with our technology and continually seek to strengthen our competitive position with on-going technology innovation.”

Because of the significant increase in the number of documents and pages a typical loan file now contains, FBC Mortgage recognized it could achieve a higher level of productivity and accuracy using advanced document management and delivery technology. After evaluating a wide array of document management technologies, the lender selected VirPack’s Document Management and Delivery System because it provided the most functionality of any system on the market.

“Our processors and underwriters found the design to be easy to learn and use. We also expected that it would substantially increase loan throughput while ensuring compliance with the new Consumer Finance Protection Bureau regulations,” said Eelman “Shortly after we deployed VirPack’s documentmanagement solution our mortgage origination operation began realizing significant cost reductions through the increased efficiencies it generated for us,” said Tony Eelman, Chief Operating Officer at FBC Mortgage.

The VirPack software enables FBC Mortgage to avoid processing pitfalls and realize efficiencies that have eluded the industry in the past.

“This technology delivers tremendous capabilities we are leveraging to speed up and enhance processes where other lenders often experience bottlenecks under the weight of new regulations, ballooning loan files, and reduced staff levels,” said Eelman. “Also, because FBC Mortgage creates competitive advantage with proprietary technology and integrations, it was important for us to find a document management technology partner that had the experience, skill, and capacity to assist us with doing so. We found the VirPack team to be very experienced, capable and interested in supporting our efforts to gain additional competitive advantage with our mortgage origination technology.”

VirPack has released a number of innovations over the past few months that have been of significant importance to FBC Mortgage. For instance, VirPack’s Automated Document Indexing feature has reduced the labor and time it takes to identify and file document images by, on average between 85-95% per lender. The VirPack Partner Network enables lenders to negotiate directly with service providers outside of the “bundled services” offered by LOS providers. Through VirPack’s integrations with service providers, documents generated by service providers are automatically delivered directly into loan files with zero processor labor.

“To be sure, VirPack delivers what we promise lenders—highly effective document management and delivery technology that helps them improve their throughput and compliance while improving turn-times and reducing costs.” said Cy Brinn, VirPack’s COO. “With the lenders facing more regulatory scrutiny and economic pressure than ever before, lenders are turning to our platform to ensure compliance, increase capacity, deliver high levels of service, without having to hire additional staff.”

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 www.virpack.com.