Mercury Network 3.0 – April 20, 2017 Update

This update contains enhancements throughout Mercury Network.

New Features

• Order OptiVal AVM cascade & RealCondition Report within 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 can order these products individually, or both at once.  For instance, if you’re underwriting a HELOC, you can often do so by using OptiVal to find the right AVM, then include a RealCondition Report to verify the property’s current condition. Or, you can order OptiVal AVMs to value the properties in a portfolio to set loan loss reserves, update LTVs and CLTVs, and identify candidates for marketing programs.
  • To start using these products, contact your sales representative so we can activate them in your account.
• Find an appraiser on your Fee panel
  Until now, finding an appraiser in your fee panel who covers a specific county wasn’t as easy as it could have been. With this release, you can use the new Find button in your fee panel to search for an appraiser or AMC/Firm meeting specific criteria. And if you can’t remember the correct spelling, don’t worry, just type the first few letters to see what we find.
• Configure Vendor Selection Settings permissions
  The Vendor Selection Settings permissions have been split by Vendor selection, Ordering options and Intelligent Selection System (ISS) so you have more options when configuring which settings your users may change.
• Configure vendors for Complex orders
  From the Products tab in your vendor's profile, you can now control whether the vendor is eligible for complex orders.
• Sync completed reports
  When syncing the Pending Quality Review status, you now have the option to include the completed report and the appraised value. This is useful if the VMP client is an employee who needs to see the report as soon as it’s available.

Mercury Network - Order management

• In an effort to help prevent failed EAD submissions, the FHA case number can no longer be entered as all ones or zeros.
• If you’re using our Advanced Auto Assign feature with AMCs but also assign orders to appraisers, you may now choose to assign supplemental orders to the same appraiser.
• When you prefer to use a staff appraiser, Mercury will sort staff appraisers at the top of the list regardless of the other Intelligent Selection System (ISS) criteria when manually assigning the order.
• You may now configure users to receive a notification when a document is sent using SureReceipts.

Mercury Network - Users

• When you add a new user and turn off all notifications, that preference is now saved so the user doesn’t receive unexpected notifications.

Mercury Network - Fee panel

• We’ve updated how we calculate our star ratings so you have a more complete picture of the vendor’s performance at a glance. Find out more here.

Mercury Network - Account

• When adding a checking account to pay your Mercury transaction fees, we now display the name of the bank once you’ve typed in the Bank routing number field so you can be sure you’ve entered it correctly.
• When a Mercury Network transaction fee is charged to your checking account, the Mercury Network invoice number will appear on your banks statement for easy reconciliation.

Mercury Network - AQM

• AQI now accounts for older versions of a rule being passed when recalculating the score from a QC module.

Mercury Network - VMP XSites

• Both your global and client group settings will be used when automatically sending reports via SureReceipts.
• When a payment method is changed, the client portal will now show the the person who made the change instead of the person who originally placed the order.
• If you’ve chosen to have your client portal display the vendor account information instead of your own, we now hide the appraiser name in the orders grid and order details when you’ve assigned the order to an appraiser instead of an AMC, so you can remain in compliance.
• In an effort to help prevent failed EAD submissions, the FHA case number can no longer be entered as all ones or zeros.