How it Works
Keep Employees In-Platform and On-Task
Modernizing Business Operations with virtual file and workflow automation, data extraction and document management with e-delivery.
How We Help
VirPack allows lenders to virtually manage loan documents and facilitates automated workflows through an online, customizable platform.
HOW VIRPACK WORKS
We provide tools for lenders to become more efficient, more productive, and more organized. Serving residential lenders, banks, credit unions, and state housing finance agencies, our technology transforms business operations.
HOW COMPANIES BENEFIT: We empower teams by alleviating manually intensive, error-prone tasking by digitizing time-wasters, applying automation, and expediting workflows.
Helping Everyone On Your Team
Functionalities and Tools to Smooth the Lending Process
A robust business rules engine supports multiple automation opportunities including tasks, third party direct deliveries, checklists, and data validation which reduces errors and deficiencies that exist in current manual processes.
A feature-rich alert and dashboard panel system reduces operational noise and ensures a focused work environment. VirPack allows you to develop a structured, integrated workflow, including quality checkpoints within your LOS from loan origination through post closing to servicing or sale of the loan.
Automating manual tasks, workflows, and business operations, with a preset and tailorable software system that is custom designed for the mortgage industry, will reduce process gaps and ensure operational excellence.
VirPack’s rule-based workflow individualizes the loan manufacturing process based on loan criteria ensuring a tailored and efficient solution across your lending enterprise.
Automatic Document Recognition (OCR)
VirPack has an extensive library of document recognition features that ensures an accurate and automated indexing of documents. Documents that are not fully recognized are clearly marked and easily addressed using VirPack’s indexing application. You can reduce the “stare and compare” with our automated data extraction functionality.
Configurable, automated business rules notify users of operations and tasks via alerts. Alerts appear within a dashboard panel allowing users a focused environment to ascertain operational needs.
Eliminate the manual “stare and compare” data validation by leveraging OCR and document recognition technology for data extraction and data verification and validation.
Improve productivity and decrease costs by reducing cycle time and increasing the number of compliance and underwriting reviews that can be completed per day by automating as much of the review as possible.
SPEED UP CYCLE TIME
Leverage automated business rules to create a hands-free final document tracking and delivery module. These business rules allow a final document due date to be automatically set based on existing data item values.
SCALED BASED ON VOLUME
As a Cloud hosted solution, VirPack is fully scalable and responsive to volume increases. VirPack’s unique business rules engine and work queue system are responsive operational resources that allow staff to shift to meet volume needs.
CLEAN USER INTERFACE
A simple user interface helps reduce confusion with automated document compare features that help ensure data integrity across documents and integrated LOS environments.
VirPack’s automatic tasking engine based on data or content changes promotes efficient and configurable compliance and underwriting reviews specific to each transaction type.
Deliver final documents automatically using configurable business rules, or with a one-click delivery module to ensure prompt electronic delivery of all final documents.
Empower your team to work anywhere, anytime with an internet connection. Work simultaneously with other team members in parallel workflows without overwriting.