Chicago, IL — From the floor of the MBA’s Annual Convention, a la mode announced today that Xerox Mortgage Services will use Mercury Network’s DataCourier service to add a new appraisal management service to the BlitzDocs® intelligent collaborative network. Xerox Mortgage Services’ clients will now be able to receive and store appraisals in the BlitzDocs electronic loan folder™ (eFolder), submit appraisals to the GSEs in compliance with the Uniform Appraisal Dataset (UAD), and also send the appraisal and all related documents to investors.
Mercury Network will allow BlitzDocs users to manage the newly required “UAD” MISMO 2.6 Errata 1 GSE Extended format appraisals inside their eFolder, and receive Native XML directly from the largest panel of appraisers in the country. The Native XML eliminates the need for error-prone PDF conversion and the fees and possible delays associated with sending PDFs to the GSEs. In addition, Mercury Network runs an extensive set of quality control and compliance rules on the appraisal so users can correct any compliance issues before submitting it to the GSEs’ Uniform Collateral Data PortalSM (UCDP®).
Results and all documents returned from the GSEs, including the Submission Summary Report and Doc File ID, will be automatically stored in the BlitzDocs eFolder for easy, integrated investor delivery per investor requirements.
BlitzDocs users will avoid any portal fees, as submission to the UCDP through Mercury Network is absolutely free via a direct connection to the UCDP. Xerox Mortgage Services’ clients can also move to a full Mercury Network configuration for compliant appraisal ordering with no account fees.
Jennifer Miller, EVP of Products for a la mode’s Mortgage Solutions Division, welcomed Xerox Mortgage Solutions to the Mercury Network platform. “We’re pleased that Xerox is expanding their best-in-class service with the most powerful appraisal management for streamlined UMDP compliance. a la mode will work with Xerox to provide a compliant, cloud-based appraisal management solution that provides high value to BlitzDocs users.”
Xerox Mortgage Services General Manager, Nancy Alley, noted, “By adding the Mercury Network service, we’re simplifying and speeding the underwriting process. Our clients can better satisfy investor requirements by managing the MISMO 2.6 XML appraisal and all returned documents from the UCDP within the BlitzDocs eFolder.”
Xerox’ Mercury Network integration will be live inside BlitzDocs in November. For more information on Mercury Network, visit www.MercuryVMP.com.
About a la mode
Celebrating 26 years as a technology leader, 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.
About Mercury Network
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.
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Press inquiries, contact:
Mortgage Solutions Division
a la mode, inc.
(405) 359-6587 x 339