Naples, FL and Aliso Viejo, CA —
Mercury Network, the leading appraisal management platform, and Platinum Data Solutions, a provider of collateral valuation and risk assessment technologies, have announced an agreement to integrate Platinum Data’s RealView® appraisal quality tool into Mercury Network’s Appraisal Quality Management (AQM) system.
RealView uses business intelligence to analyze and validate appraisal data in context with neighborhood information gathered from a database created from public and private sources.
More than 600 of the nation’s lenders and appraisal management companies (AMCs) use Mercury Network to manage more than 20,000 appraisal deliveries in compliance with burgeoning regulations and investor requirements. Those customers, as well as the thousands of lenders and AMCs receiving appraisals via Mercury’s DataCourier™ service, will have integrated access to Platinum Data’s RealView from directly within their core appraisal management platform.
“This integration gives Mercury Network’s users more options to keep pace with the new quality control requirements” said Phil Huff, CEO of Platinum Data. “Smart lenders know that if GSEs are using their technology to QC appraisals, they had better follow suit. Mercury Network users will have fast, easy access to a lender-focused version of the type of technology that GSEs have created for their own use.”
“Mercury Network is a central dashboard for efficiently and compliantly managing all aspects of a lender or AMC’s appraisal operations,” noted Jennifer Miller, president of Mercury Network. “Each organization has their own quality assurance benchmarks, and their own workflow and automation needs. We’ll continue to integrate the tools they request, so that Mercury Network is their centralized appraisal management software solution.”
About Mercury Network
Mercury Network (http://www.mercuryvmp.com/) is the nation’s premiere vendor management platform serving the mortgage industry. Mercury Network's SaaS platform is used by tens of thousands of lenders, appraisal management companies, credit unions, servicing professionals, appraisers, real estate agents, and other entities to manage compliance and workflow for more than 20,000 transactions a day. The company’s solutions include Mercury Network for appraisal vendor management, Enterprise Vendor Framework (EVF) for lender management of multiple AMCs, AQM for quality assurance and quality control compliance, and SureReceipts for compliant eDisclosures to the borrower. For more information about the company, visit http://www.mercuryvmp.com/.
About Platinum Data Solutions
Platinum Data, “The Appraisal Quality Company,” provides technologies that help mortgage lenders, servicers, investors, appraisal management companies and their vendors value collateral, and identify and manage collateral risk. Its online platform and analytical tools are being used by hundreds of companies to perform due diligence, prevent buybacks and protect billions of dollars in assets across the U.S. The company's RealView system pioneered computer-assisted appraisal underwriting. Its valuation analytics channel provides services that assure the accuracy and compliance of collateral evaluations used for entire portfolios as well as for individual transactions. Platinum Data Solutions is based in Aliso Viejo, California and was founded in 2002. For more information, visit PlatinumData.com, follow @Platinum_Data or email info@PlatinumData.com.
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