August 2, 2011
Acris Technology, formerly Acris Solutions, a provider of paperless technology for mortgage bankers and lenders, unveiled Mortgage VCO, a cloud-based “virtual corporate office” suite of software applications, IT, and consulting services that enable mortgage lenders to run a compliant, scalable, paperless mortgage business without the expense and complexity of on-site servers, software, maintenance, and upgrades.
Developed and refined over a period of 12 years, Mortgage VCO had been in use privately for years by Millenia Mortgage to process over $10 billion in funded loans and is now available to mortgage bankers, regional and community banks, credit unions, and other mortgage lenders.
The suite of solutions includes cloud-delivered virtual desktops, loan origination and processing software, paperless document storage, digital signature technology, IP telephony, and mortgage-specific consulting and IT services. Mortgage VCO reduces lenders’ IT costs so they can focus on closing more loans in less time. It also removes geographical boundaries from a lender’s hiring criteria and integrates communications among all parties—including emails and phone calls—into the mortgage production process. Lenders simply need a high-speed internet connection to run Mortgage VCO.
“The enormity of the changes sweeping through the mortgage industry is having a fundamental effect on how lenders do business,” said Richard Johnston, president of Acris Technology. “If there was ever a time to reinvent the mortgage office, this is it.