Technology for Lenders
Features for Compliance & Management
Listed below are some key functionalities of the VirPack platform that help Compliance and Management.
Audit Logs
Track every change made by every user with a simple mouse click. Audit trails capture data at loan level, document level, and page level.
Loan Stage Access Controls
Enhanced role security combined with configurable business rules ensures file access is limited to parties at the appropriate loan stage.
Timely Review
Automatic delivery of files to third party quality control recipients helps ensure a timely quality review cycle.
Data Comparison Tools
Ensure file integrity at each stage of the loan process resulting in a high rate of loan saleability.
Management Reports
See the current state of the business at a glance. Create your own customized management reports with a few mouse clicks.
- A suite of operational reports provide extensive managerial insight on productivity and volume trends.
- Dashboard panels provide oversight of loans and tasks in progress.
Compliance Audits and Fraud Checking
Reduce unnecessary risk exposure with compliance and fraud checks that can optionally be configured to run automatically when the loan status changes.
Document Imaging
Go paperless and eliminate expensive third-party imaging systems. Convert paper documents into digital documents. Optical Character Recognition (OCR) software recognizes text characters in images and converts the image into a machine-readable text document.
Web Portal
Allow originators to use a browser to start loans, track status, and upload documents to satisfy conditions.
Automation
Business rules promote workflow automation and eliminate process gaps facilitating a shorter loan cycle.
Custom Fields, Experience, and Docs
Build your own fields, screens, and document views to tailor VirPack to your organization’s needs.
Task Management Tools
Stay on track and avoid overlooking required tasks with VirPack’s task tracking and metrics.
Customizable Pipeline Views
Customize the pipeline so that each user has the pipeline views necessary for his or her job function.
Multiple User Editing
Reduce bottlenecks by allowing two or more users to process the same loan file at the same time.
Custom Reports and Dashboards
See the current state of the business at a glance. Create your own customized management reports and dashboards with a few mouse clicks.
Data Extraction
Transform digital images as well as scanned documents into, comparable data elements through automated data extraction (ADE) that extracts and structures loan file data.