The addition of new HFAs further validates the operational efficiency and increased productivity provided by DMDS
MCLEAN, Va., October 25, 2017 – VirPack, a leading provider of document management, imaging and delivery solutions to the mortgage banking and financial services industries, announced today that two state Housing Finance Agencies (HFAs) have selected VirPack’s Document Management and Delivery System (DMDS). Both are located in the southeastern U.S. and join a growing number of HFAs who have deployed VirPack’s DMDS to reduce costs and improve their operating efficiency and lender satisfaction.
Each HFA will utilize VirPack’s DMDS and Lender Portal within their single-family lending operations to streamline file upload from their lenders, shorten funding review and condition clearing times, and reduce the time required to prepare and deliver loans for quality control review. Additional benefits are extended to the servicing department where homeowners’ files are quickly accessible and servicing-specific documents can be added.
The growing list of HFAs that have chosen VirPack’s DMDS and Lenders Portal do so because of the many time saving features and functionality it has to offer. Some include:
- VirPack’s integrated Lender Portal, a secure point of access that makes it easier for an HFA’s lenders to upload and download documents and files.
- Automated document recognition and OCR technology that reduces the time it takes to manually identify, name and organize loan documents and files.
- Customizable workflow and loan-level tasking that routes uploaded documents and files to designated workflow queues and notifies teams for review and processing.
- Web services API and data services utility that interfaces with an HFA’s loan reservation and/or origination systems, other business systems, or third party service providers.
“VirPack’s Document Management and Delivery System helps housing finance agencies increase productivity, speed loan review processes and reduce overhead costs.” said Cy Brinn, president of VirPack. “We look forward to continuing our collaboration with our HFA customers to identify and create new software capabilities and services that will generate additional document and image management efficiencies for them.”
VirPack is a leading provider of document management, imaging and delivery solutions to the mortgage banking and financial services industries. Founded in 1998, VirPack has pioneered many industry firsts, such as the first electronic investor loan delivery in 2004. Today, the VirPack Document Management and Delivery System (DMDS) and VirPack Partner Network support more than 80 deliveries to investors and service providers in the mortgage industry. VirPack’s suite of solutions increase operational efficiency, help ensure compliance and provide significant enterprise cost savings. Additional information may be found at www.virpack.com.
For details regarding this announcement or inquiries about VirPack’s HFA solutions, please contact:
Wayland Pond, SVP Sales