Mercury Network 3.0 - January 27, 2021 Update

This update contains enhancements throughout the platform. See the blog post here.

New Features

New loan purposes:
To simplify your workflow, we've added two new loan purposes: Home Equity and Estimate of Value. In the past, you many have used a loan purpose of Other for these orders, but you let us know that caused unnecessary revision requests. Now, because you can specify these purposes, your orders are more accurate and streamlined.
Archiving:
As we get closer to Mercury Network's ability to archive historical orders, we want to let you know about an upcoming change to the way the platform calculates vendor statistics and ratings.
To ensure you have the most accurate data when calculating ratings and stats, we are updating our logic to only take into account orders placed in the last 18 months. The goals of this change include better efficiency when performing these calculations, plus the fact that the data included will be more relevant rather than using information from all historical orders — possibly many years old. This is our last task before we begin the archiving process, and we expect it to be finished next month.

As more lenders are scaling up operations to accommodate high transaction volumes, we're making it easier for you to manage a larger number of Mercury Network users. Specifically, you can now have an unlimited number of users in your Mercury Network account.

Recently, there were cases when vendors were seeing an error message when clicking Save after making changes to their profile, and their changes weren't saved. At the same time, lenders and AMCs may have received a notification that a vendor's profile was updated, but they saw no changes as a result of the error. This has been resolved so vendor profiles can be successfully updated and notifications to their clients are accurate.