North American Savings Bank, F.S.B. has licensed VirPack’s Document Management and Delivery System. After evaluating its processes and third-party options, North American Savings Bank (NASB), a national mortgage lender headquartered in Grandview, Missouri, has concluded that licensing VirPack’s advanced Document Management and Delivery System would reduce its dependency on paper and trim costs and improve origination efficiency. Also, it increases its loan origination capacity, and ensures compliance with Consumer Financial Protection Bureau and state regulations.
“NASB continues to look for ways to enable our loan origination staff to expedite the collection, review and approval of loan documents to compress the time and cost required to underwrite and close loans,” said Bruce Thielen, executive vice president of residential lending at North American Savings Bank. “We conducted a thorough review of document management and delivery systems in order to find a solution that would provide the capabilities needed to accelerate the mortgage origination business.”
NASB required a system that interfaced with its loan origination system and made document submission, upload and handling easier and more efficient than it was in the past. NASB found the VirPack system easy to use and highly configurable, which will enable them to streamline workflow throughout the loan process.
“We are pleased that NASB selected VirPack’s Document Management and Delivery solution. Their selection of VirPack is yet another confirmation that the investments we continually make to expand our document management system technology and capabilities are aligned with the needs of technology focused mortgage lenders like NASB,” said Cy Brinn, chief operating officer at VirPack.