Pittsburgh-based national title agency, appraisal management company (AMC), and technology provider ValuAmerica and Oklahoma City-based AMC software platform Mercury Network have announced that ValuAmerica is now integrated into Mercury Network’s vendor management platform.
The integration will allow lenders and AMCs who use the Mercury Network platform to place appraisal orders with ValuAmerica and streamlines communications by automatically passing order statuses and documents back and forth without the lenders having to modify their workflow.
With the new integrated system, Mercury Network will route orders to ValuAmerica based on each lender’s unique assignment and compliance requirements, and a complete audit trail of the assignment is captured by the integrated system.
“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,” said Shawn Murphy, EVP of ValuAmerica. “Lenders utilizing Mercury Network will see efficiency gains in their appraisal management process.”
Mercury Network is used by more than 700 lenders and AMCs to manage compliant and efficient appraisal operations, according to the announcement.
“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,” stated Jennifer Miller, president of Mercury Network. “We’re proud to welcome ValuAmerica to the roster of AMCs connected to Mercury.”