Now, OptiVal AVM cascades and RealCondition Reports can be ordered just like any other product in Mercury Network. We also added a new Find tool in your fee panel, gave you more control over user permissions, and more. The highlights are below, and you can read the release notes here.
New products to order in Mercury
We're pleased to announce that you can now order OptiVal AVM cascades and RealCondition Reports directly inside Mercury.
OptiVal AVM cascade is designed to objectively surface and rank the best-performing AVMs in each specific geographic region, providing enhanced visibility and transparency for AMCs, Investors, Mortgage Lenders, Mortgage Insurers, Servicers, Credit Unions, Mortgage Compliance Companies, and Banks and Thrifts.
RealCondition Report is a comprehensive analysis and assessment of the current property condition of the subject property and its neighborhood derived from onsite inspection of external structural components of the subject compared to nearby properties.
You have the option to order these products separately, or you can get both an OptiVal AVM cascade and a RealCondition Report for the same property in one order. For example, if you're underwriting a HELOC, you can often use a combination of a well-chosen AVM report and a RealCondition Report to verify the property's current condition.
Before you can order these products, you'll need to enable them in Product Requirements - click here and we'll show you how. The first time you enable any of these products, we'll need to activate them for you, so contact your account manager directly or call the sales line at 1-800-434-7260.
Find in fee panel
You told us you wanted an easier way to search your fee panel vendors - such as looking for an appraiser who covers a specific county. So, we added the Find button to the toolbar. When viewing the Appraiser/Agent or AMC/Firm tabs, click Find and enter your search criteria. You don't have to enter complete search terms, just type the first few letters and click Find to see your results. Depending on which tab you're viewing, the available search fields will change. Here's what you'll see:
Appraiser/Agent tab:
AMC/Firm tab:
Below, you’ll see your search results, along with a panel which shows your search criteria. Click the X on the right to clear your search and view all vendors.
Finer control over Vendor Selection Settings user permissions
When setting up your users, you now have more detailed control over how they can change your Vendor Selection Settings. We separated the permissions into 3 categories: Vendor selection, Intelligent Selection Settings (ISS), and Ordering options.
There are many ways you can use these new permissions. For example, you can allow a user to alter how the vendor is selected (Vendor selection) but prevent them from changing settings which affect how you pay the transaction fee (Ordering options.)
Mark vendors eligible for Complex orders
Another new feature is the ability to control whether a vendor is eligible to receive orders marked as Complex. The goal is to help make sure your vendors are only receiving the orders you intend. By default, existing and new vendors will be marked eligible for Complex orders, so if you don't want one of them to be assigned to those orders, you'll need to open their vendor profile and uncheck that option in the Products tab.
VMP XSites: New option to sync completed reports
If you're using a VMP XSite, you can now automatically sync the completed report when the order enters the Pending Quality Review status. Plus, you can include the completed report in the notification email. We added this because we heard that, often, your own employees are using your client portal, and they need to be able to see the completed report as soon as it becomes available from the vendor. We hope this helps you streamline that portion of your workflow.
Let us know what you think of these improvements, and as always, tell us your ideas for new features and tools. That's where our inspiration comes from, so we look forward to hearing from you at info@MercuryVMP.com.