ValuAmerica, a national title agency which also has appraisal and technology divisions, integrated into the Mercury Network vendor management platform.
This integration allows lenders using the Mercury Network vendor management platform to place appraisal orders with ValuAmerica and streamlines communications by automatically passing order statuses and documents back and forth, the company announced in a news release. Mercury Network will route orders to ValuAmerica based on each lender’s unique assignment and compliance requirements. The system captures a complete audit trail of the assignment.
More than 700 lenders and AMCs use Mercury Network to manage compliant and efficient appraisal operations.
“Our partnership with Mercury Network will help streamline appraisal ordering, management and payment. And it eliminates duplicative data entry on multiple systems, which can create errors,” ValuAmerica Executive Vice President Shawn Murphy said. “Lenders utilizing Mercury Network will see efficiency gains in their appraisal management process.”
“Lenders use Mercury Network to place orders with their AMCs for compliance with banking regulations from CFPB, OCC, FDIC, and they rely on us to develop the technology that connects them to all their preferred AMCs,” Mercury Network President Jennifer Miller said. “We’re proud to welcome ValuAmerica to the roster of AMCs connected to Mercury.”