An Innovative Partnership

We’re closing in on the deadline for our Innovations Awards. If you have not gotten in your application yet, the deadline is this Friday. Apply HERE. In the interim though, I want to continue to write about what I think are innovative companies and partnerships. To that end, I just heard that a la mode’s 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. Here’s the scoop:

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 The Author

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Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.