Technology for Lenders
Features for Post Closing & Shipping
Listed below are some key functionalities of the VirPack platform that help Post Closers and Shippers.
Workflow Automation
Benefit: Business rules promote workflow automation and eliminate process gaps facilitating a shorter loan cycle.
Automated Document Recognition and Data Extraction
Benefit: Integrated OCR-based document recognition and data extractions reduces manual document classification and existing stare and compare process by leveraging innovative comparison tools to ensure document data and loan data match.
Task Management
Benefit: Stay on track and avoid overlooking required tasks with VirPack’s task tracking and metrics.
E-Delivery
Benefit: Deliver loans automatically using configurable business rules, or with a one-click e-delivery module to ensure prompt electronic delivery of all loan documents.
Long-term Retention
Benefit: Long-term storage, backup, and archive of all loans, documents, and data ensures on-demand access and retention policy compliance without the need of physical storage space.
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.