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a la mode to Waive Fees for Disaster Inspection Reports

Real estate technology provider ""a la mode, inc."":http://www.alamode.com/ announced that its ""Mercury Network"":"":http://www.mercuryvmp.com/ service will waive all fees related to gathering disaster reports in areas impacted by Hurricane Sandy.


According to a company release, in the aftermath of Sandy, orders for disaster inspection reports from lenders increased more than 200 times the normal level.

Mercury Network is a vendor management platform that handles transactions for lenders and appraisal management companies.

Vendors and clients can start conducting transactions at no cost by visiting ""www.mercuryvmp.com/sandy."":http://www.mercuryvmp.com/sandy/


a la mode also assured that with 3,300 appraisers available in the affected areas, appraisers should be able to access properties in a lender's portfolio to provide inspection reports, safety conditions permitting.

""Our focus right now is to make sure lenders are able to immediately move forward on closings for unaffected properties, and get rapid assessments using the Catastrophic Disaster Area Inspection Report, or CDAIR, on those that have been impacted,"" said Jennifer Miller, president of a la mode's mortgage solutions division. ""We're glad to be in a position to help the industry and the local area's housing markets at a time when they need it the most.""

John Farley, president of a la mode’s appraisal division, explained what to expect when ordering an inspection report.

""We designed the CDAIR as a triage tool, to give lenders a quick assessment as to whether the property is still viable collateral,"" said Farley. ""It’s intentionally not a full appraisal. Remember that in a disaster, the appraisers serving the area are working under highly abnormal conditions, so delivery times for traditional appraisals with the full URAR scope of work will stretch to several weeks or months.""

Farley added full appraisals or engineering reports should be requested after CDAIR’s conclusions have been reviewed.

a la mode is headquartered in Naples, Florida, with additional offices in Oklahoma City, Salt Lake City, and Washington, D.C.

About Author: Esther Cho


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