Lender Processing Services’ LSI Division chooses Mercury Network for appraisal management with Native XML data

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OKLAHOMA CITY, Okla. — a la mode announced today that LSI, a division of Lender Processing Services (LPS) has chosen to connect its appraisal ordering and management services with Mercury Network to receive the native XML appraisal data necessary for error-free Uniform Mortgage Data Program (UMDP) compliance.

The two companies have developed a custom plug-in that connects LSI with Mercury Network’s vast real estate appraiser panel, which has 100 percent nationwide coverage. The plug-in will run an extensive set of LSI quality control rules against the appraisal report prior to delivery and will create the completed appraisal report in both PDF and native MISMO 2.6 XML formats. Unlike PDF extractions, LSI clients will receive the native XML straight from the appraisers’ desktops to promote error-free submission to the GSEs, per their UMDP mandate.

“We welcome LSI to Mercury Network. LSI is a widely respected collateral valuation leader, and the plug-in with Mercury Network arms their clients with the most streamlined compliance of the GSEs’ UMDP initiative. It’s yet another example of LSI looking out for their customers,” said Jennifer Miller, EVP of Products for a la mode’s Mortgage Solutions division.

“This technology is a part of our continued commitment to work with industry leaders, such as a la mode, to develop and deploy meaningful solutions that further promote efficiency and accuracy within the industry.” said Mark Johnson, Valuations Executive for LSI.

Mercury Network is the premiere online Vendor Management Platform (VMP), allowing lenders and appraisal management companies (AMCs) to manage their entire appraisal workflow. Mercury Network has been used by more than 200,000 mortgage professionals since 2002 to completely automate the full “round trip” of tens of millions of appraisals. a la mode and Mercury Network are in a unique position to offer the pre-delivery, customizable quality assurance checks and native XML needed by the GSEs because a la mode’s WinTOTAL is the leading appraisal desktop form-filling software used by more than half of the nation’s appraisers. For more information, visit http://www.MercuryVMP.com.