This update improves several of Mercury Network's efficiency-boosting features, including automated Statement of Engagement letters, Intelligent Selection Settings, and automated borrower payments. We’ve shown some highlights below, and as always, you can see the release notes for complete details.
Automated Statement of Engagement
One of Mercury Network's features helps you save time and ensure compliance by automatically attaching your customized Statement of Engagement letter to orders when they're placed. You can load your own engagement letter as a template (and you can have as many versions of it as you need) then insert merge fields so that details about the order's client, vendor, subject address, and more can be included when it's automatically attached. In this release, we resolved an issue that prevented the engagement letter from being attached as intended.
Click here and we’ll walk you through configuring your automated statement of engagement letter (which you can do for residential and commercial orders, with a specific version of the engagement letter for each).
Automated vendor selection
Selecting the right vendor for an order depends on weighing a fairly complex set of criteria including distance to subject, the vendor's past performance and current workload, a valid license in the state, and in some cases, a specific designation that qualifies them for the job. Mercury Network's Vendor Selection System in conjunction with Product Requirements lets you automate this process by filtering and ranking vendors using a large array of your selected criteria. We fixed an issue that, in some cases, filtered out vendors based on their designations who should have been considered eligible. This way, your automated vendor selection will continue to perform reliably.
Click here and we’ll walk you through configuring your Product Requirements, which is where you can determine which designations a vendor should have for specific product types.
Automated borrower payments
Part of Mercury Network's Accounting Automation solution helps improve your borrowers' experience by automatically sending a custom-branded email requesting their credit card payment. Then, the borrower can pay anywhere using your secure, branded Make a Payment page anywhere they have internet access.
This is part of a broad solution that can also automatically pay appraisal fees via direct deposit to the appraiser's bank account and verify their tax ID with the IRS database. There were cases when the initial payment-request email wasn't being sent if the payment method was changed after an order was assigned to a vendor, but this has been corrected.