McLean, Va., and Emeryville, Calif., November 12, 2014—VirPack, a leadingdocument management and delivery solution provider to the residential mortgage industry, announced today that it has released an interface to the mortgage insurance system of National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH). The interface enables lenders using VirPack’s Document Management and Delivery system to very efficiently transmit loan documents that are required for mortgage insurance underwriting directly to National MI.
The interface between VirPack and National MI is designed to save lenders time and to increase accuracy by automating the process of sending documents to National MI with VirPack’s “One Click” delivery technology.
“VirPack and National MI developed the integration because it provides a faster, more efficient and accurate way for National MI to collect the documents necessary for it to make a decision on issuing and pricing insurance,” said Cy Brinn, VirPack’s COO.
“As a result of the integration, we are able to order services and securely deliver the documents that National MI requires to issue mortgage insurance,” said Tony Eelman, COO at FBC Mortgage, LLC. “We are leveraging this platform because it improves accuracy, reduces costs, and helps us to preserve our competitive advantage through advanced technology.”
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.
“We’re pleased to have this direct integration with VirPack’s top-flight document management and delivery system,” said Pete Pannes, chief sales officer at National MI. “Our integration with VirPack is part of our ongoing commitment toour lender customers to make doing business with National MI as easy as possible. We believe our mutual customers will benefit from the time- and cost-savings realized with the integration.”
“VirPack’s integration with National MI is just the latest example of our providing the service levels that lenders require to improve their processes and competitive advantages,” said Brinn. “VirPack is dedicated to developing innovations that reduce costs and increase profits for our clients.”
About National MI
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc. (NASDAQ: NMIH), is a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower’s default. To learn more, please visit www.nationalmi.com.
VirPack is a 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 electronic investor loan delivery in 2004. The VirPack Document Management and Delivery System and VirPack Partner Network support more than 80 deliveries to major investors and service providers in the mortgage industry. VirPack’s platform automates the recognition and indexing of document images as well as the stacking and packaging of loan files to investors and service providers. VirPack’s award- winning technology drives the industry’s premier delivery solution and its end-to-end document management and delivery 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.
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