After recently acquiring Platinum Data Solutions, Mercury Network continues to complete strategic acquisitions. Now, Mercury Network, the valuation technology company used by more than 800 lenders and Appraisal Management Companies (AMCs), announced it has acquired Appraisal Scope, Inc., a fast-growing provider of valuation management software. Here’s what this acquisition means for the mortgage industry:
“The nation’s housing economy depends on efficient, accurate valuation operations,” said Will Clemens, CEO of Mercury Network. “The acquisition of Appraisal Scope, combined with our expanded investments in R&D, allows us to offer lenders and AMCs of all sizes the most innovative collateral valuation tools from a single provider.”
Jennifer Miller, President of Mercury Network, added, “With this acquisition the combined companies now have more than 45 staff members dedicated to product development and IT. Both platforms, Mercury Network and Appraisal Scope, will continue to be offered, and we plan to continue our investment into both.”
“We feel great alignment with Mercury’s culture and mission,” said Jordan Rothstein, Founder of Appraisal Scope. “The combination of the two companies will allow Appraisal Scope customers to benefit from Mercury’s greater scale and infrastructure. We will thrive and continue to grow and innovate as part of Mercury.”
No sale price was disclosed. Appraisal Scope, Inc. is a leading provider of valuation management software for appraisers, BPO providers, AMCs and mortgage lenders. The company’s technology is integrated with more than 40 industry vendors and offers a single destination for AMCs and lenders, no matter how complex their valuation management needs. Appraisal Scope, Inc. is based in Baltimore, and was founded in 2011.
Mercury Network now serves almost 1,000 lenders and AMCs with six core valuation technology solutions, including the two leading appraisal management platforms, as well as Add-on modules for commercial appraisal, appraisal quality control, alternative valuations, and additional closing services such as flood certificates and income verification.