In response to your interest in alternative valuation products, this update offers new ways to order and manage alternative valuations. Here's what you'll see.
A new alternative valuations order form
The new order form is dedicated to valuation products for situations where you don't need a full-blown appraisal. Currently, this includes the OptiVal AVM Cascade, OptiVal+, and RealCondition Report. We look forward to adding other alternative valuation products soon because demand for these solutions is on the rise as the home equity lending market heats up.
New product: OptiVal+
Speaking of home equity, the new OptiVal+ product is the ultimate HELOC valuation solution because it combines the best AVM for your subject property with an inspection report completed by a local professional, complete with exterior photos. Nothing about the combination has changed, but it's much easier to say than "OptiVal AVM Cascade and RealCondition Report." See the product page for more about OptiVal+.
Offer alternative valuation products to your clients
If you're using a VMP XSite, you can now offer these alternative valuation products to your customers via your portal. These orders are automatically assigned, and you can manage them alongside your appraisals and view them by status using the new Alternative Valuations status folder. To start using them, you'll need to enable the products in your VMP XSite Preferences as you would with other products. Then you need to...
Talk to your account manager
To get started ordering these alternative valuations or offering them to clients, you'll need to have a quick chat with your account manager so they can help you get set up and sign the contract. If you've already been ordering OptiVal and RealCondition Report, you're all set. If you don't have an account manager, our Client Relations team will be happy to help. Just call 1-800-900-4954.
Coming soon: Updated Make a payment page
You've probably heard us talk about the "Payments" feature (which is due later this year) that will give you the ability to receive the payment from the borrower for the appraisal, then pay the vendor via ACH all within Mercury Network. It's going to eliminate a lot of payment hassles to make your appraisal process more efficient. But, before that goes live, we'll release a complete redesign of the page borrowers use to enter their credit card information. Since it will be ready soon, we're releasing it ASAP to a handful of customers so their borrowers can enjoy the improved experience sooner. If you’d like to participate, let us know.
This update also improves the way an order's status is synchronized when it's assigned to an AMC, and you can find complete details in the release notes. If you have any feedback about this update or future improvements you'd like to see, let us know at info@mercuryvmp.com.