Technology for Lenders

Features for Post Closing & Shipping

Listed below are some key functionalities of the VirPack platform that help Post Closers and Shippers.

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Workflow Automation

Benefit: Business rules promote workflow automation and eliminate process gaps facilitating a shorter loan cycle.

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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.

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Task Management

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

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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.

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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.

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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.