PowerLender Acquires VirPack to Deliver End-to-End Lending Solutions

Backed by IBT Apps®, the Combined Capabilities Offer a Unified, Modern Lending Experience for Banks, HFAs, and Financial Institutions

CEDAR PARK, TX, UNITED STATES, June 4, 2025 /EINPresswire.com/ -- Effective May 1, 2025 – PowerLender, a leading loan origination solution and part of the IBT Apps^® family of financial technology platforms, is pleased to announce the acquisition of VirPack, a premier provider of document management and workflow automation solutions serving mortgage banks, housing finance agencies (HFAs), and financial institutions.

This strategic move further strengthens IBT Apps’ commitment to delivering a fully integrated and modern lending ecosystem. By combining VirPack’s secure, lender-centric document management platform with PowerLender’s highly configurable origination technology, the unified solution provides enhanced automation, efficiency, and compliance capabilities across the loan lifecycle.

“This marks a major step forward in our mission to deliver the comprehensive, modern lending experience that banks, Housing Finance Agencies, and financial institutions need in today’s environment,” said Greg Hunter, CEO of PowerLender. “With VirPack’s industry-leading document automation joining PowerLender’s powerful LOS platform, we’re now able to offer a true one-stop solution—from application to post-close—all under the IBT Apps umbrella.”

VirPack, previously owned by Innovative Workflow Technologies, has been a trusted provider in the financial services space for over two decades. Known for its LOS-agnostic approach, robust automation engine, and reliable compliance tools, VirPack empowers lenders to streamline operations and retain control over their processes—no matter how complex.

Key advantages of the combined platform include:
• A fully integrated LOS + DMS solution that reduces vendor sprawl and simplifies workflows
• Greater automation and configurability to support specialized programs like MCCs, down payment assistance, and secondary market compliance
• Seamless document access and retention during LOS transitions
• Built-in exception tracking, stipulation resolution, and automated purchase workflows

The VirPack team will join the PowerLender organization, ensuring continuity for existing customers while accelerating innovation and support across the unified platform. Clients can expect uninterrupted service and ongoing enhancements that align with IBT Apps’ vision of delivering flexible, scalable banking and lending technology nationwide.

With this acquisition, PowerLender—backed by the full strength of IBT Apps— is now positioned to serve the end-to-end lending needs of community banks, HFAs, credit unions, and mortgage lenders across the country.

For more information, please visit:
www.powerlender.com

Or please contact:

David Stricklen
PowerLender, an IBT Apps Company
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