The latest Mercury Network update gives VMP XSite users an easy way to sync more order information to the client’s order without opening the XSite. There are also newly available products and a loan type. Plus, we made several general improvements throughout the platform, and you can find all the details in the release notes. Continue reading for a few highlights from this update.
Improved workflow for syncing updated fees with the client
If you use a VMP XSite, this feature is intended to streamline the task of syncing fees to the XSite order. Now, if a vendor conditionally declines an order and proposes a new fee which you accept, you'll have the option to instantly sync the updated fee to the XSite order. If you do, for clarity, the audit trail will display the labels as Original Vendor Fee and Proposed Vendor Fee.
If the vendor has already accepted the order then requests a modification with a new fee, you can sync that newly accepted fee in the same way, and the audit trail will show those labels.
This improvement is part of our ongoing initiative to consolidate client-related workflow items within the Mercury Network order, reducing the need to open the XSite order. There’s more to come, so watch this space.
New products available
Based on feedback you’ve shared about your unique lending programs, we added three new products which can be enabled for your account.
Condo FHA 203k (1073)
Multi-Family FHA 203k (FNMA 1025)
Uniform Residential Appraisal FHA 203k (FNMA 1004)
You can enable and configure these in Product Requirements, and here’s a quick walkthrough to get started fast.
VMP XSite users can add this product to their clients’ order form in VMP XSite Preferences - Configure Order Form, and here’s a walkthrough for that, too.
New loan type available
We also added a new Foreign National or ITIN loan type which can be selected for residential or commercial appraisal orders. Mercury Network users will see the option in the Loan type drop-down when placing a new order. VMP XSite users can add this loan type to their clients’ order form in Configure Order Form.
As with any product or loan type, there are a variety of automations available, from default instructions and documents to automated portal submissions. If you’d like to learn more, contact your Account Manager or call Client Relations at 1-800-900-4954. You can also schedule a quick consult at a time that works for you. We’d love to help you use these new features for better efficiency and profitability.