CoreLogic acquired Mercury Network last year.
NetOxygen customers could already manage appraisals from Mercury Network’s Web interface, but now there is automatic data integration between the two systems. This eliminates duplicate data entry and dramatically accelerates the appraisal process while reducing administrative burdens, the companies claim.
Lenders using the new combined offering will be able to automatically order appraisals and receive regular status updates on each order, inside the loan folder.
As a result of the integrated offering, residential and commercial appraisals can be managed and ordered from over 300 integrated appraisal management companies and over 35,000 independent appraisers in the U.S.
“Our goal is to enhance lender efficiency, with increased agility, productivity and accuracy,” says Scott Dunn, head of product management and compliance for Wipro Gallagher Solutions, in a release. “Mercury Network is a leading platform with innovative tools that will save our customers’ time on every loan.”
“The most efficient appraisal process for lenders includes a fully integrated loan file. So, we’re proud to work with NetOxygen to provide easier and faster appraisal management solutions to their broad customer base,” adds Devi Mateti, executive for CoreLogic Valuation Technologies.