CoreLogic Chooses Mercury Network for Appraisal Management

Oklahoma-based ""a la mode"":http://www.alamode.com announced this week that ""CoreLogic"":http://www.corelogic.com chose to connect its ValuEdge platform with Mercury Network for receipt of the Native XML appraisal data needed for compliance with Fannie Mae and Freddie Mac's ""Uniform Mortgage Data Program"":http://www.efanniemae.com/sf/lqi/umdp/index.jsp (UMDP).

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CoreLogic is a California-based provider of consumer, financial, and property information, analytics, and services to business and government.

""The new integration gives CoreLogic the Native XML they'll need for compliance, plus direct access to the most qualified pool of appraisers in the country,"" said Jennifer Miller, EVP of products for a la mode's mortgage solutions division. ""CoreLogic has a progressive approach to quality assurance and data compliance that serves their clients very well.""

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""Mercury Network"":http://www.MercuryVMP.com is an online vendor management system allowing lenders and appraisal management companies (AMCs) to manage their entire appraisal workflow. More than 200,000 mortgage professionals have used it since 2002 to automate tens of millions of appraisals.

A custom plugin will connect CoreLogic with the Mercury Network of real estate appraisers. The plugin will run an extensive set of quality control rules against the report prior to delivery and will bundle the completed report in both PDF and Native MISMO 2.6 XML formats.

The completed appraisal helps position CoreLogic to comply with the GSEs' mandated UMDP program. This partnership also enables CoreLogic to connect to any appraiser regardless of the software the appraiser uses.

""We're pleased to be working with Mercury Network,"" said Wes McDaniel, chief appraiser for CoreLogic Valuation Services. ""This relationship gives our clients a huge advantage with accurate, expert collateral valuations that are in compliance with the evolving regulations and GSE requirements.""

""CoreLogic clients will be ready for UMDP, and won't face any of the fees or pipeline delays that ill prepared lenders will encounter,"" according to Molly Dowdy, a spokesperson for a la mode.