Technology for Lenders

Features for Processors

Listed below are some key functionalities of the VirPack platform that help Processors.

Rules-Based Tasking

Benefit: VirPack will automatically generate tasks based on your defined criteria in the loan to help ensure there are no gaps in the loan process.

Early Detection

Benefit: Data Extraction allows early detection of loan discrepancies between LOS data and document data helping to ensure a timely loan close.

Vendor Integrations

Benefit: Direct integrations with e-signing technologies ensures that executed documents are captured automatically at the time of signing.

LOS Integrations

Benefit: Ensure a seamless workflow allowing users to access VirPack with a single click, automatically posting loan documents.

Custom Views

Benefit: Facilitates a workflow process specific to the processor.

Annotations

Benefit: Individualized stamps and annotations allow for key details on documents to be flagged.

In-Platform Messaging

Benefit: Send messages directly to other users through the built-in messaging application.

Dashboard

Benefit: Streamline workload through a dashboard customized to meet the individual users’ needs.

Business Rules

Benefit: Ensure required documents are satisfied within a configurable timeline and based on loan data.

 

 

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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.

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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.

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Task Management Tools

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

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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.

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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.