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-- Integration Forges Connection to MGIC's Mortgage Insurance --
MILWAUKEE, July 28, 2014 /PRNewswire/ -- Mortgage Guaranty Insurance Corporation (MGIC) announced today that it has joined the VirPack Partner Network. VirPack customers now have the availability to send loan documents directly to MGIC through VirPack's Document Management and Delivery System. VirPack is a leading provider of document management and delivery technology to the residential mortgage industry.
VirPack now provides single-click service-ordering and document delivery to MGIC through its new direct delivery interface. Through the integration, customers can securely send loan documents to MGIC without leaving VirPack's Document Management and Delivery System. This automation – unique to MGIC – increases accuracy and saves customers time from having to manually select, stack and upload the documents elsewhere. The integration marks the first of a series of implementations for MGIC with VirPack.
"Our partnership with VirPack demonstrates our continued dedication to automating access to our mortgage insurance services," said Sal Miosi, Vice President of Marketing at MGIC. "Through the VirPack system, customers can easily send documents to MGIC. This partnership further illustrates MGIC's commitment to providing a best-in-class customer experience."
Cy Brinn, VirPack COO, added, "We are pleased to have MGIC as one of our valued VirPack Partner Network service providers. Our integration with MGIC enables our customers to eliminate the time needed to assemble document images to deliver to MGIC. Because our Document Management and Delivery System knows exactly which documents MGIC requires to issue mortgage insurance, our customers can also eliminate delivery errors and the time and cost associated with re-delivery. VirPack and MGIC are keenly focused on providing mortgage originators the ability to drive down loan manufacturing costs in order to improve their profitability. We look forward to collaborating with MGIC to deliver additional innovative tools and services to our mutual customers in the future as well."
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation, serves lenders throughout the United States, Puerto Rico and other locations, helping families achieve homeownership sooner by making affordable low-down-payment mortgages a reality. At June 30, 2014, MGIC had $159.3 billion primary insurance in force covering approximately one million mortgages.
VirPack is the leading provider of document management and delivery solutions to the mortgage industry. Founded in 1998, VirPack has pioneered many industry firsts, such as the first vendor to support electronic investor loan delivery in 2004. VirPack supports more than 80 deliveries to major investors and service providers in the mortgage industry. VirPack's award-winning technology drives the industry's premier delivery solution and its end-to-end paperless document management platform. VirPack simplifies the loan process and creates increased efficiency, helps ensure compliance and provides significant enterprise-wide cost savings. For additional information, visit www.virpack.com.
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