Oklahoma City, OK —a la mode today announced Real Property Insight has chosen the Mercury Network Vendor Management Platform (VMP) to manage the valuation portion of their new, groundbreaking product, the Real Property Insight (RPI) Report.
The report gives asset managers, banks, mortgage insurers, investment funds, and their front line staff the information they need to extract maximum return through the best disposition strategy for a particular property. The RPI report consists of a certified home inspector’s assessment, a renovation expert’s executable repair bid, and a licensed appraiser’s Pricing, Income and Market Analysis report. The result is a much more transparent and comprehensive evaluation than the current limited options, such as broker price opinions (BPOs) and other variations, on the market today.
“Many financial institutions are struggling by using information tools they’ve always had, dating back to when foreclosures were rare and home prices were always appreciating,” stated Kim Thompson, President of Real Property Insight. “With the flood of distressed assets in their portfolios now, they’re set to lose at least $70 billion more than they should by relying primarily upon BPOs and other incomplete, obsolete reports. Our RPI Report informs the full range of disposition options – from modification, short sale, and trustee sale to REO sale or lease – by asking the right local experts the right questions.”
The RPI report is available for order through Mercury Network, the premier online Vendor Management Platform, or VMP, already used by a lengthy roster of the nation’s largest lenders and appraisal management companies. Appraiser participation will also be far more widespread than alternatives since the appraiser’s Pricing, Income and Market Analysis form is available through WinTOTAL, a la mode’s appraisal form filling software that is used by more than half the nation’s real estate appraisers.
“Access to the most qualified appraisers and the ability to manage all of the assignments is critical to providing the timely, accurate information our customers need,” said Thompson. “That made a la mode our clear choice.”
“We’re thrilled that RPI has chosen Mercury Network as their platform to manage the valuation aspects of this landmark product,” said Jennifer Miller, Executive Vice President of Products for a la mode’s Mortgage Solutions Division.
“RPI’s thorough understanding of the real and urgent needs of today’s asset owners and managers makes them a critical provider of REO services. Our Mercury Network clients will be armed with the information to save billions, and we’re proud to help make that a reality.”
About Real Property Insight
Real Property Insight is a specialized integrator of information and services focused on distressed asset disposition. Nationally, it offers financial institutions, agencies, investors and insurers credible, consistent and comprehensive information insights into the homes in their portfolios and acquisition pools. With its integrated delivery, nationwide repair management and other services, its customers can optimize their results on the scale this mortgage crisis demands. For more information, visit www.realpropertyinsight.com or call 1-800-661-0595.
About a la mode
Founded in 1985, a la mode develops desktop, mobile, and Web tools for the real estate and mortgage industries. a la mode’s mission-critical products are used by hundreds of thousands of appraisers, agents, inspectors, and lending professionals to complete the nation’s real estate transactions. a la mode’s state-of-the-art offices are located in Salt Lake City, Oklahoma City, and Washington, DC. For more information, visit www.alamode.com or call 1-800-ALAMODE.
Mortgage Solutions Division
(405) 359-6587 x 339