PHILADELPHIA (BUSINESS WIRE) — Aug. 25, 2017 — Radian Guaranty Inc., the mortgage insurance (MI) subsidiary of Radian Group Inc. (NYSE:RDN), today announced it has completed integration with the VirPack Document Management and Delivery System (DMDS) for document delivery. The integration offers Radian’s customers electronic interaction to securely share loan documents.
VirPack is a leading provider of document management and imaging solutions for the real estate lending industry, and its VirPack DMDS software allows Radian to capture, organize, retrieve and deliver paper-intensive documents and images.
“This is an incredibly exciting development because this partnership with VirPack will allow Radian to continue the pursuit of our primary mission – to promote and secure the ideals of homeownership in America,” said Brien McMahon, chief franchise officer at Radian. “By establishing a centralized platform that will better meet the demands of mortgage lenders, the DMDS software will improve the accessibility, convenience, and simplicity of lending services for prospective homeowners.”
The integration allows Radian customers to electronically share loan documents including post close, contract underwriting, and non-delegated documents with the company. DMDS’s innovative suite of features will help Radian streamline the loan origination process for customers and eliminate delivery costs by enabling capabilities including easy document collection and upload, automated indexing, electronic delivery, and multi-layer security control.
“The rising cost to originate residential mortgages in today’s market is a battle that lenders and service providers alike are fighting to control,” said Cy Brinn, president at VirPack. “VirPack’s one-click delivery integration to Radian will provide significant cost savings by improving turn times, reducing errors and neutralizing staffing requirements.”
About Radian Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance, risk management products and real estate services to financial institutions. Radian offers products and services through two business segments: – Mortgage Insurance, through its principal mortgage insurance subsidiary Radian Guaranty Inc. This private mortgage insurance protects lenders from default-related losses, facilitates the sale of low-downpayment mortgages in the secondary market and enables homebuyers to purchase homes more quickly with downpayments less than 20%. - Mortgage and Real Estate Services, through its principal services subsidiary Clayton, as well as Green River Capital, Red Bell Real Estate and ValuAmerica. These solutions include information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities.
About VirPack VirPack is a leading provider of document management, imaging and delivery solutions to the real estate lending industry. Founded in 1998, VirPack has pioneered many industry firsts, such as the first electronic investor loan delivery in 2004. Today, the VirPack Document Management and Delivery System (DMDS) and VirPack Partner Network support more than 80 deliveries to investors and service providers in the mortgage industry. VirPack’s suite of solutions increase operational efficiency, help ensure compliance and provide significant enterprise cost savings.