a la mode announced today a new integration between Mercury Network and Byte Software’s popular Byte-Pro loan origination software (LOS). The integration allows users to click a button inside the Byte-Pro system to log into Mercury Network and use the platform to manage their entire appraisal workflow. In addition to the time-saving automation, the interface provides tools that help users comply with all appraisal independence standards and applicable banking regulations.
One of the integration’s features pre-fills the data from the loan file within Byte Software into the appraisal order, eliminating errors and delays that often result from manual data entry. Byte Software users can import appraisal status messages directly into the loan file, and download the completed appraisal, and any supporting documents such as the GSE submission summary reports, into the LOS in both PDF and the newly required MISMO XML formats.
Byte Pro users can take advantage of Mercury Network’s streamlined compliance and cost-free, direct integration with the GSEs’ Uniform Collateral Data Portal (UCDP). These key differentiators set Mercury Network and Byte Pro apart from competing solutions that require the use of multiple and costly applications to comply with the new appraisal submission standards. Byte users gain the benefit of Mercury Network’s superior automated and customizable appraisal quality control (QC) measures that include a regimen of more than 1,000 quality rules. The QC rules are run on the appraisal before it’s delivered back to the Byte user, which dramatically speeds the underwriting and manual coordination process.
“We’re pleased to offer the latest in appraisal management automation to our clients,” said Joe Herb, General Manager of Byte Software. “Our objective is to provide the most comprehensive LOS. This new integration with Mercury Network gives our clients easy access to a powerful vendor management platform, and a much-needed integration with UCDP. It’s a definite advantage for our clients.
Mercury Network is ready to efficiently handle the increase in transaction volume from the addition of the Byte Software user community. “Mercury is the backbone for over 20,000 appraisal transactions a day, so we’ve proven the scalability”, noted Jennifer Miller, President of a la mode’s Mortgage Solutions Division. “We welcome Byte Software’s customers to Mercury Network and look forward to helping them eliminate the delays and the extra fees many lenders are facing now.”
a la mode's Mercury Network is the nation's premiere Vendor Management Platform in the appraisal and BPO industries, offering both interfaceless "black box" MercuryDirect services and APIs, as well as “turn key” MercuryManaged Web front ends for use by loan officers and compliance staff. It’s used in both capacities by a lengthy roster of the nation's largest lenders and AMCs, as well as by numerous community banks, credit unions, wholesale and correspondent lenders, and mortgage brokers, simplifying full compliance with appraisal independence standards and banking security regulations. It’s been used by more than 200,000 mortgage professionals since 2002 to automate the full “round trip” of tens of millions of appraisals. For more information, visit www.MercuryVMP.com.
About a la mode
Celebrating 26 years as a workflow technology leader, a la mode’s mission-critical desktop, mobile and Web tools are used by more than 100,000 real estate and mortgage lending professionals located in every county of every state in the U.S. State-of-the-art offices are located in Salt Lake City, Oklahoma City and Washington, D.C. For more information about the company, visit www.alamode.com.
About Byte Software
Founded in 1985 by mortgage professionals, Byte Software is a leading provider of mortgage software solutions for banks, credit unions, and mortgage bankers and brokers. Byte Software products streamline mortgage processes, allowing users to focus on generating additional business and revenue. Byte Software is part of the CBC Companies family of businesses. A privately held company headquartered in Columbus, Ohio, CBC Companies provides risk management, credit reports, employment and resident screening, property and settlement services, and fraud prevention solutions to customers in the business, government, and not-for-profit sectors. To learn more about Byte Software visit http://www.bytesoftware.com or call 800.695.1008.
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Press inquiries, contact:
Mortgage Solutions Division
a la mode, inc.
(405) 359-6587 x 339