VirPack has launched a new e-collaboration platform designed to help lenders transition from paper, to paperless, to electronic. The platform is a Web-based system built using C-Sharp programming language on Microsoft's .NET framework. The platform, dubbed Enterprise Center, was designed from the ground up with the particular needs of the correspondent and wholesale lender in mind. New features include multilayered security at user, loan and document levels, Web-based query, viewing, editing and central administration, and a suite of Web-based upload tools for documents and files from remote users, branches, business partners, brokers and even borrowers. Enterprise Center supports a hybrid document environment to ease the transition from paper-based processes to an e-document world. A new scan application allows remote capture with indexing and the new virtual print driver allows users to add content from any application.
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The industry leaders are sparring over refinance business from a Mr. Cooper portfolio, and UWM contends it didn't specifically try to harm its rival.
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The trade group supports FHFA's overhaul but urges longer comment periods, more flexibility and protections to prevent unintended consequences.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
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The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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