Setting The Stage

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 9 of 67

8 | Th e M Rep o RT VirPack Touts Newest Enhancements to Doc Management System New update will reduce operatiNg costs aNd improve effectiveNess. I n Virginia, document services provider VirPack announced the latest upgrade to its Document Management and Delivery System. The new update brings the system to Version 3.3 and contin- ues VirPack's mission to deliver innovative features that reduce labor costs, improve accuracy, and increase origination and delivery efficiencies. "VirPack's Document Management and Delivery System remains well ahead of the rest of the industry, but we wanted to open that gap even wider, and with this new release, we have done that," said CEO Michael Coar. "We are constantly speak- ing to our customers, lenders, and our partners for ways to enhance the solution. Their recommendations were the basis of several upgrades that make the technology easier to use, more flexible, improve efficien- cies, and deliver competitive ad- vantages to them," Coar added. The upgrade adds a pack of enhancements, including loan checklists, image tags, status-based access controls, automated assign- ment of tasks, and more. "Too often, lenders rely on the document management features that their loan origination system provides. LOS vendors simply do not have the time and expertise to develop the type of robust platform that is required, espe- cially considering the heightened regulatory scrutiny that lenders of all sizes face," Coar went on. "In contrast, we are down in the trenches with our customers and focused on improving our enterprise-wide document man- agement system every day." Web Rules Technology has increased the industry's ability to be nimble and adapt. IDS, MortgageFlex Develop Doc Prep/ LOS Integration compaNies use techNology to keep up with New regulatioN. I nternational Document Ser- vices (IDS), a mortgage docu- ment preparation vendor, and MortgageFlex Systems, a mort- gage loan software provider, announced the development of a joint "lights out" interface be- tween IDS' flagship preparation system—idsDoc—and Mortgage- Flex's LoanQuest software. With the interface between the two systems, users can now gen- erate compliant mortgage docu- ments in idsDoc without leaving LoanQuest, giving them access to all the capabilities of both. Also included with the inte- gration is the ability to create custom mappings according to lender preference and to include processing docs and verification forms in packages. Borrowers also have access to idsDoc's e-Sign functionality through LoanQuest, simplifying the signing process. "With all the regulatory changes lenders have faced just in the past three months, simplic- ity is a lender's best friend these days," said Mark Mackey, EVP at IDS. "At IDS, we always strive to make life easier for our clients, and integrations like these allow lenders to access multiple best-in- class systems while streamlining the origination process." According to a release, the two companies share between them similar histories and a development culture, making the integration all the more logical. "Both IDS and MortgageFlex share a similar culture of develop- ment, which makes partnerships like these work so smoothly," said Craig Bechtle, EVP at MortgageFlex. "Compliance is at the top of our customers' list of concerns, and the ability for our customers to access the sophisticated doc prep capabili- ties of idsDoc without leaving the LoanQuest system eliminates data transfer errors that could compro- mise compliance." on the web

Articles in this issue

Archives of this issue

view archives of TheMReport - Setting The Stage