Mercury Network Transaction Fee Changes

As of January 7, 2014, we removed the median fees from Mercury Network.  This means that all fees are between the client and the appraiser (and the client can determine which party pays the transaction fee).

In the past, the transaction fee was assessed based on the vendor's published fees and the assignment fee compared to the median fees for the subject property's county.  Based on overwhelming demand from appraisers, lenders, and AMCs, this was eliminated so each client now has total control over their own transaction fees.  Clients can choose to pay all transaction fees, always pass them to the vendor, always pay for specific vendors, or choose on a per-order basis.  Click here to learn more about transaction fee settings. 

Vendors can offset transaction fees by raising their published assignment fee.  Click here for more information. 

NOTE:

The Mercury Network transaction fee is separate from the vendor's fee to complete the assignment.  As always, vendors set their own fees for any job and can accept or decline an offer, or negotiate fees for any order.  No Mercury Network transaction fees are applied until the order is accepted by the vendor.

If you have any questions or concerns about median fees, feel free to let us know directly at info@mercuryvmp.com.