Flagstar Adopts VirPack Direct

Vienna, Va.-based VirPack has announced that Flagstar Bank, Troy, Mich., has begun using an enhanced version of its Virpack Direct electronic image loan delivery system.VirPack Direct conforms to Flagstar’s electronic image loan delivery specification and supports delivery to Flagstar's paperless loan processing systems for both correspondents and brokers, VirPack said. Now Flagstar's correspondents and brokers can deliver fully indexed images instead of paper loan packages to reduce costs and cycle times. VirPack said loans identified for delivery to Flagstar are immediately retrieved from the VirPack system, prepared and electronically delivered in a secure fashion. Direct is integrated with VirPack's imaging systems, which provide barcoding, scan capture, and electronic document management applications designed specifically for the mortgage industry. VirPack Direct is free to VirPack customers. The company can be found online at http://www.virpack.com.