cLean, Virginia and Grandview, Missouri, December 16, 2014–VirPack,a leading document management and delivery solution provider to the residential mortgage industry, announced today that North American Savings Bank, F.S.B., has licensed its Document Management and Delivery System.
After evaluating its processes and third-party options, North American Savings Bank (NASB), a national mortgage lender headquartered in Grandview, Missouri, has concluded that licensing VirPack’s advanced Document Management and Delivery System would reduce its dependency on paper and trim costs and improve origination efficiency. Also, it increases its loan origination capacity, and ensures compliance with Consumer Financial Protection Bureau and state regulations.
“NASB continues to look for ways to enable our loan origination staff to expedite the collection, review and approval of loan documents to compress the time and cost required to underwrite and close loans,” said Bruce Thielen, executive vice president of residential lending at North American Savings Bank. “We conducted a thorough review of document management and delivery systems in order to find a solution that would provide the capabilities needed to accelerate the mortgage origination business.”
NASB required a system that interfaced with its loan origination system and made document submission, upload and handling easier and more efficient than it was in the past. NASB found the VirPack system easy to use and highly configurable, which will enable them to streamline workflow throughout the loan process.
“We are pleased that NASB selected VirPack’s Document Management and Delivery solution. Their selection of VirPack is yet another confirmation that the investments we continually make to expand our document management system technology and capabilities are aligned with the needs of technology focused mortgage lenders like NASB,” said Cy Brinn, chief operating officer at VirPack.
North American Savings Bank, is a division of NASB Financial Inc. (OTC: NASB) is a national mortgage lender that provides services for residential and commercial real estate lending. The lender has assets of more than $1.2 billion and has closed almost $9 billion in residential loans since 2008. NASB ranks among the top-25 lenders in Veterans Administration loans and is one of the 100 largest mortgage lenders in the U.S. NASB operates offices in Kansas City as well as Harrisonville, St. Joseph, and Excelsior Springs. For additional information, visit www.nasb.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, visitwww.VirPack.com.
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