Hybrid EVF FAQ: For internal use only
When will the "Hybrid" update be out?
We will transition specific clients before the end of the year. This is a very large update so we want to thoroughly test it with clients before pushing it out to the entire market.
When CAN We MARKET it?
We've been telling clients and prospects this is coming so feel free to mention it whenever appropriate. We will do a full scale launch at the beginning of 2017, after we've made sure our clients love it.
do we have any Resources now for selling it?
what's the brand? What's it called?
"Hybrid" is a major upgrade to Mercury. "Hybrid" is just an internal code name originating from when we were describing the account clients were requesting, the ability to order from AMCs AND appraisers or a "hybrid account on Mercury". Think of "hybrid" as an internal code name like we use with all updates (rock bands, oscar winning movies, etc.). It just goes away when the update is launched.
Mercury will power orders to AMCs or appraisers.
what happens to EVF?
The name and brand "EVF" will be discontinued after the Hybrid release. Just like all branding changes, it will happen over time but we are in the process of simplifying brands and EVF be eliminated in favor of simplicity. Our industry doesn't need more vague acronyms. Word.
why is this good for lenders?
This update makes it easy for lenders to automate their order preferences, and assign orders individually to any vendor they choose. It can help them find vendors to reduce turn times, expand to areas they haven't served before, and fall back to vendors in compliance with third party oversight requirements. Lenders need the flexibility to quickly work with any vendor they choose and this update makes it easy for them to do that.
Why is this good for Amcs?
Integrated AMCs will have instant visibility and a ready-to-order connection to more than 700 lenders. Mercury will significantly accelerate the AMC's sales cycle with new lenders by eliminating any technical obstacles or training for placing orders. When an AMC sells to a prospect's office that uses Mercury, it's much easier to convince the prospect to give the AMC an opportunity to earn the business without the hassles of technical due diligence or training the prospect to use the AMC's website.
WHY IS THIS GOOD FOR Appraisers?
Appraisers will have instant visibility to dozens of large lenders and there are several circumstances where a lender wants to place orders to an appraiser. Mercury will make it much easier for appraisers to work with more lender clients, without the hassles of technical due diligence, long sales cycles and "change in process".