Technology for Lenders

Features for Originators

Listed below are some key functionalities of the VirPack platform that help Originators with improved communication in operations.

Features by Role
9

Automated Workflow

Benefit: Facilitates automatic loan status change notifications and updates for you and your borrower.

9

Originator Portal

Benefit: Improves communications with operations and streamlines discussion.

9

Early Discrepancy Detection

Benefit: Ensures a timely close from early-stage Data Extraction loan discrepancy notifications. 

9

Condition Satisfaction

Benefit: Helps borrowers and assists with securely satisfying conditions.

9

Business Rules Engine

Benefit: Provides alerts and tasks at key milestones in the loan process allowing for improved transparency.

h

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.

I

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.

k

Task Management Tools

Stay on track and avoid overlooking required tasks with VirPack’s task tracking and metrics.

f

Customizable Pipeline Views

Customize the pipeline so that each user has the pipeline views necessary for his or her job function.

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Multiple User Editing

Reduce bottlenecks by allowing two or more users to process the same loan file at the same time.

d

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.